In the late 1800s, John H. Merrick was making a name for himself. He was no longer bound by chains but instead was a businessman his community looked up to.
His barbershops, rental properties, and haircare line businesses were thriving – but he wanted more. His great relationship with his community eventually turned into a promising business opportunity.
Slavery was legally over, but our people weren’t exactly free. Insurance companies constantly denied us coverage or jacked up premiums, making it difficult to protect ourselves, create businesses, or build wealth for our families. But Merrick was determined to change all of this.
He depended on his savvy business skills and his trusting community friends and eventually created North Carolina Mutual Life Insurance Company. This completely transformed the landscape.
The company did more than supply insurance to Black people previously denied – NC Mutual offered policyholders a stake in the company to help them build wealth. After its founding, the company moved on up to Parrish Street – a thriving Black business district of Durham, NC, nicknamed “Black Wall Street.”
The company eventually went on to be the country’s largest Black business and became a staple in Black homes. We should all follow Merrick’s example of not trying to pull up a chair at the table – but instead build our own and help our community in the process!