Today we’d like to introduce you to Stephone Coward II.
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
I always laugh when I think of the way I got started. In 2004, at 19, I returned home to my parents’ house in Copperas Cove, Texas, after finishing my first semester at the University of Texas at Arlington. I wanted to make enough money for the upcoming Fall semester. My parents and Uncle got me a job at a local hardware store/lumber yard, where I THOUGHT I would be working as a cashier. Instead, I was in the store’s lumber yard, moving window frames and doors. Well, after two weeks of that, in one of the hottest summers I had ever experienced in Central Texas and filling out countless job applications, I landed a job at First National Bank of Texas. I not only achieved the financial security I desired for the next semester, but it allowed me to stay with the company and transfer back to Dallas-Fort Worth to work as a teller at First Convenience Bank in Arlington, Texas.
From there, I spent the next 19 years earning experience in the banking industry by working at Washington Mutual, JP Morgan Chase, Sterling Bank, Comerica Bank, CitiBank, and Capital One. I worked through the “Great Recession,” where many banks failed or bought. At a point, I joked that every bank I joined gets bought out by a bigger bank. I began to understand better the extent of the economic consequences when financial systems discriminate against and prey upon vulnerable populations in this country.
Around 2016, it became more evident to me that the current economic system needed to change for the better fundamentally, and that’s where my financial activism journey began. We needed to shift the flow of capital from financial institutions that perpetuate economic injustice and support financial institutions that support us. Over the next few years, I co-founded BankBlackUSA, which leads the #BankBlack movement, because we believed that minority depository institutions, especially, play an integral role in our economy but are under-supported. It led me to develop partnerships with the University of Kansas, the University of Michigan, North Carolina State University, Brown University & NYU to provide opportunities for students to shape our future. Through COWRIE Initiative, a nonprofit I co-founded, and generous donations, I have been able to hire interns and provide them substantial stipends as well. In 2022, I received an incredible opportunity to work for Hip Hop Caucus to lead our economic justice work to support those who are first and worst impacted by economic injustice as the Justice Paid in Full Campaigns Director.
We all face challenges, but looking back would you describe it as a relatively smooth road?
I am blessed to be in a space where I can be vulnerable and share that it has not been a smooth road. I have faced professional and personal challenges that have shaped who I am. In 2018, while building my nonprofit and work, I was laid off from Capital One. I was out of work for over six months until I was allowed to do consulting and chart a new path forward by a dear mentor and friend. Simultaneously, I found myself losing ground in my mental health. I suffered from and still, to this day, suffer from anxiety and depression. I have a great network of resources, family, and friends to pour into me. I have become a mental health advocate because I found out that speaking to a therapist is a powerful tool. The pandemic we have been living through has taught me that we must speak up louder than ever about mental health; too many people are suffering silently.
As a founder, building something you are confident can add value to society without financial support has been challenging. The lack of access to capital to pursue your passion is problematic, especially for Black and Brown communities. The ability to fail upwards is an incalculable privilege that we do not address enough. That is a privilege of the few and not an option for everyone. We must create systems, tools, and resources that champion innovation and equity and focus on it explicitly.
Thanks for sharing that. So, maybe next you can tell us a bit more about your work?
Joining Hip Hop Caucus has been a full-circle moment for me. During my banking career, I was not only a full-time employee but also a full-time student; I went on to get my undergraduate degree in History and went to graduate school for a Master’s in Sustainability. At Hip Hop Caucus, I can use my skills to serve our communities nationally by researching, building, and implementing data-driven campaigns.
Hip Hop Caucus is a national nonprofit organization that uses the power of hip-hop culture to advance civil and human rights. Hip Hop Caucus began in 2004. Our work touches many areas, including climate and environmental justice, civic engagement, racial and economic justice, women’s rights, and LGBTQ+ rights.
The economic justice work I lead is Justice Paid in Full, where we advocate for an economy that works for everyone. We promote divest-invest strategies pulling money out from industries that harm our communities and investing in economically, socially, and environmentally empowering solutions. We stand with activists demanding good jobs, access to capital for communities locked out of industries, and fair housing.
The first campaign we launched is the Bank Black and Green campaign. This multi-year campaign encourages Black-owned banks to commit against funding the fossil fuel industry and mass incarceration and deploy capital to frontline communities of color.
The campaign encourages commitment from perpetuating the harms of fossil fuels and mass incarceration and investment in ensuring communities of color are safe, healthy, and vibrant. To increase resources for frontline communities of color, Bank Black and Green encourages value-based impact investors to shift financial capital to Black-owned banks. Finally, the campaign engages communities the Black banks serve to ensure their awareness and preparedness to access green capital. The Bank Black and Green campaign aims to strengthen the economic power of frontline communities of color and reduce economic disparities while disempowering systems of mass incarceration and environmental pollution.
What I am most proud of is being able to create tools and resources for people to make more informed decisions about things to impact them and their families. I am proud of the fact that people have come to find value in the work that I have been doing. During the Great Recession, I was proud to help serve my fraternity by building something new and innovative, the all-virtual Kappa Alpha Psi Federal Credit Union. I learned so much during/from that time that I carry with me today. In 2021, I was named one of Forbes #NEXT1000 as a social entrepreneur and became a Just Economy Institute Fellow, and joined a fellowship of financial activists shifting the flow of capital from an extractive economy to the creation of a regenerative economy. I am not sure what sets me apart from others, and I will allow others to make that determination. The impact of financial insecurity and economic inequality is something I have experienced firsthand, and I have made it my mission to change the system for good.
What were you like growing up?
My family is my biggest blessing; my parents gave my sisters and me a solid foundation to be well-rounded, respectful, and loving people. They are my biggest role models, and I thank God daily for them. They have made all of this possible. My parents and grandparents have told me that I have always been a very caring person; as a kid, I would call everyone my friend. They say I always saw the good in others. My mom told me that I have always been inquisitive and constantly dig for information to understand better. My dad said I was very structured and helpful, which tracks being a military kid.
As an adult, I still am an avid gamer; playing my PS5 is a part of my self-care routine. Anime and the superhero genre (I am a Marvel superfan) are my favorite things to watch. I have various interests, but I am a HUGE Dallas Cowboys fan #DCFL and love basketball, especially the Dallas Mavericks #MFFL. Something less widely known is my love of culture, especially my own. Both sides of my family are from Louisiana, where I was born. I don’t play about my Gumbo and Boudin. I also am very interested in genealogy and l studying languages. I speak Spanish and am learning our indigenous Louisiana Creole language, Kouri-Vini.
Contact Info:
- Website: https://hiphopcaucus.org/
- Instagram: https://www.instagram.com/mostephone/
- Twitter: https://twitter.com/MoStephone
- Other: https://hiphopcaucus.org/follow-us-on-social-media/
Image Credits
Hip Hop Caucus
COWRIE
BankBlackUSA
