Carver Legacy Center, a Black-owned financial and wealth building system, opens in North Omaha
Published: Tuesday, May 3, 2022
The Carver Legacy Center, an innovative collaborative approach to building black businesses and thriving communities was publicly announced on August 30, 2020 and formally opened on April 4, 2022.
Carver Legacy Center Owners and Partners with Elected Officials and Strategic Collaborators (April 4, 2022 Soft Opening)
After nearly five years of behind the scenes work to develop formal partnerships, the collaboration is bringing new life to the historic Carver building located in the village at 24th and Lake.
Co-founders and co-owners Willie and Yolanda Barney and Martin, and Lynnell Williams have created a joint venture with American National Bank to make it happen.
The focus of the Center is creating wealth for African-Americans and North Omaha residents through business ownership, home ownership and community ownership.
“18 months ago we stood before the community and promised to renovate the historic Carver building and launch a new financial center, develop a Hub and Accelerator for small businesses where they can launch, scale and grow, and create a store and pop-up incubator where Black businesses and North Omaha entrepreneurs can feature their products and services. Today, we are back to have you experience it for yourself. Welcome to the Carver Legacy Center,” said Willie Barney, co-owner and co-founder.
“For over 22 years, Yolanda and I have worked to launch, support, promote and expand black businesses.”
“We are excited to partner with Martin and Lynnell Williams and American National Bank. To be able to do this in the historic building where the first Black-owned financial institution in Nebraska was opened 78 years ago, the place where Whitney Young launched a program to increase Black homeownership and the building that housed the offices of some of Omaha’s history-making black leaders is especially meaningful to all of us.”
The Carver Legacy Center will have several components.
Carver Legacy Center Co-owners and Co-Founders: Willie and Yolanda Barney and Lynnell and Martin Williams. Carver Savings and Loan, the first Black-owned financial institution in the state of Nebraska opened in 1944 and closed in the mid 1960’s. The Carver Legacy Center owners purchased the building and partnered with American National Bank to bring financial services, hubs and accelerators and wealth building systems back to 24th and Lake.
CARVER LEGACY FINANCIAL SERVICES
The Carver Legacy Financial Services Center, a joint venture with American National Bank, will bring banking services to 24th and Lake, and provide increased access to credit and capital for Black businesses and North Omaha residents.
With the joint venture with American National Bank, individuals, families, organizations, churches and businesses can open accounts and make deposits at any American National Bank location by designating a Carver Legacy Account. American National Bank is a member of the FDIC which means deposits are insured.
Loans leveraged by these deposits will benefit Black businesses and individuals, and North Omaha residents and businesses.
In Phase III to come later, the Carver at 24th and Lake is working to become a full service branch which will allow all banking services to be provided at that location.
“We are excited about partnering with the Barney and Williams families to make this happen at this historic location,” said John Kotouc, Co-chairman of American National Bank. “We are bringing our banking experience, expertise and considerable investments to this collaborative approach.”
“American National Bank is committed to supporting this Black-owned business and initiative and we want this to serve as another catalyst for further community-based development in North Omaha.”
Kotouc also emphasizes that this is not an exclusive situation. “We will play a role, but we challenge and encourage other financial institutions to also get involved with this project. It will benefit the entire community.”
In addition to the financial center, the Carver Legacy Center will house three other important components: Hub & Accelerators; Revive Omaha Store and Pop-Up Incubator; and Legacy Wealth Center.
HUB AND ACCELERATORS
The Hub will be the new home for Revive Omaha and the Revive Black Business Network. It will also feature shared office and meeting space for the DreamBusiness Accelerator and other business collaborators.
“Nine years ago, we created the Revive Black Business Network which has connected with over 300 black owned businesses,” said Yolanda Barney, co founder and Vice President of SMB Enterprises.
“One of the things we have heard most consistently is we need more funds to launch and expand our business. We can’t get loans. Entrepreneurs have also told us they would like support with finance, sales, technology, admin, marketing and branding.”
While the Financial Center will help bring funding together, the Hub will be a place to help entrepreneurs with connecting with other business owners and resources, launching their vision and provide technical assistance to help take their businesses to scale.
The Accelerators run by the Barneys and Williams will also connect black businesses to supplier diversity and procurement opportunities with major companies.
“We are excited to be open for business at the Carver Legacy Center. The process of building and introducing this financial services center was a work of passion and commitment to our community,” said Martin Williams, co-owner and co-founder.
“We have worked for the past 30 years on cultural approaches to launch and grow successful businesses.”
He and his wife Lynnell are founders and strategic leaders of Ambassador Worship Center and have established several businesses nationally and internationally, including Barak II which is the partner with the Carver.
“Using what we have learned by helping others to launch million dollar businesses, we are blessed to be a part of bringing the Carver back to life and helping families to build generational wealth.”
The Hub will utilize a collaborative approach that all three families have dedicated themselves to over many years. The Revive Black Business Network will operate a start-up accelerator and the Williams will facilitate a scale-up accelerator through their DreamBusiness program.
Other businesses will bring their specific expertise to the table. Hayes and Associates and Advance Tax Solutions will support businesses with finance, accounting and tax services. Technology Consulting Solutions and others will assist with technology.
Business Seals and others will assist with business plans and financial forecasts. PPRP Innovations will support market research, pricing and market growth strategies. Other black owned businesses will assist with social media, branding, marketing, HR and operations.
“We wanted to create one place where an entrepreneur can go from idea to launch and then to scale and expansion,” said Willie Barney.
“We are also finalizing partnerships with other specialists and organizations who will offer services at the Center.”
REVIVE OMAHA STORE AND POP-UP INCUBATOR
Another key component to the Center will be the Revive Store and Pop Up Incubator. The space where Big Mama’s sandwich shop operated will be multi-use.
It will feature products created by African-Americans and North Omaha residents. The space will also serve as a pop-up incubator for businesses that would like to introduce their products to the community.
“It’s a perfect space for a small business to host an event to showcase their products while also giving them a chance to test market and gather valuable experience” said Yolanda Barney.
“Our goal is to help them step out into their entrepreneurship journey and then hopefully locate a business in the 24th and Lake District or another key corridor in North Omaha.”
LEGACY WEALTH CENTER
The final piece of the four part strategy is the Legacy Wealth Center. A core element in the vision is financial empowerment and community ownership. The team wants to see residents save, improve credit scores, purchase insurance, invest in stocks, purchase land and homes, become business owners and pass wealth to future generations.
The Legacy Wealth Center will feature workshops, special events and classes to help residents with accomplishing their financial goals. We will have guest speakers and experts in their fields share their time and talent with members. Participants will learn more about turning their gifts and talents into revenue producing businesses and multiple streams of income.
“This is the part that gets me most excited,” said Lynnell Williams. “We want to teach families everything we have learned about building wealth. That starts with breaking cycles and implementing discipline in the areas of finance.”
“Carver Legacy Center is committed to bridging the gap for all ages and ensuring that our young ones get a head start on understanding money matters! Our future depends on how well we financially prepare our youth.”
The Carver Legacy Center will also house the Revive Black Business Network which has national strategic advisors, including Dr. Pamela Jolly, Dr. Randal Pinkett and Tawanna Black. They will also support and offer wealth building classes and sessions.
As the Carver Legacy Center moves through the phases, the team will also work with local and national partners to create collective investment opportunities. This will be a platform to pool and leverage resources.
“We believe the reopening of the Carver is like digging up the wells that made North Omaha a great place to live, worship, work and own homes and businesses,” said Martin Williams. “As we move forward, we will work with others to help residents to create wealth and ownership.”
COLLABORATION
Other local collaborators include: Omaha Economic Development Corporation, Nebraska Enterprise Fund, Family Housing Advisory Services, Omaha 100, Shift Omaha, Creighton University, Metropolitan Community College and the University of Nebraska – UNO.
“American National Bank is committed to helping to develop strong communities and we are very supportive of many organizations in North Omaha,” said Wende Kotouc.
“We have worked with Willie and Yolanda and Martin and Lynnell for many years and they have consistently worked with others to produce measurable results. They have shown again and again they know how to make things happen. We are excited to be involved in this effort. Earnest White who has a long history of community involvement will be our ambassador to Carver.”
Willie Barney added, “We want to specifically thank Michael Maroney, Ben Gray, the City of Omaha Mayors Office and Planning Department, Lorie Lewis, Ernest White, Ryan Meyer, Steph Gould, Jackie Vinci, Patti Kuhre, Pamela Jolly and Katie Weitz for their support as we have worked to develop this Center.”
“We believe the Carver will be an important piece of accelerating progress at 24th and Lake, in North Omaha and for African-American communities.”
“Omaha is known for wealth, we want it to be known for creating Black wealth as well and rebuilding a thriving North Omaha.”
Community Features
95% increase in the number of Black-owned businesses with employees in Omaha
A recent story by the Brookings Institution highlights a 95% increase in the number of Black-owned businesses with employees in the Omaha metro.
The Brookings reports leads with the statement that Black-owned businesses are driving economic growth in America.
The report uses data from the Census Bureau’s Annual Business Survey showing an increase of 182 Black-owned businesses with employees in Omaha from 2017 to 2022.
That is great news for the organizations and businesses working to increase the number and size of Black-owned businesses.
“This is incredible. A 95% surge in Black-owned businesses with employees in Omaha is more than a statistic—it’s a testament to resilience, innovation, and economic empowerment,” said Frank Hayes, CEO and Founder of Hayes & Associates. “This growth fuels generational wealth, strengthens communities, and drives the local economy forward. When Black businesses thrive, Omaha thrives!”
The Brookings report shows that minority businesses are driving economic growth in the entire country.
Some neighboring cities in the Midwest and partner cities also performed very well when it comes to increasing the number of Black owned businesses.
“We set a goal in 2015 to work together to help create or scale 250 more Black-owned businesses with employees by 2025,” said Willie Barney, CEO of the Empowerment Network and co-owner of the Revive Black Business Network and Carver Legacy Center. “We’ve partnered with many organizations to host expos, markets, workshops, networking events and assist with raising capital and securing investments.”
“Even with the pandemic, we have collectively made substantial and measurable progress. This proves what can be accomplished in just five years and we want to help create or scale 250 more businesses before 2030.”
Locally, there are many support organizations and the entrepreneurs working to make things happen in Omaha:
- Nebraska Enterprise Fund
- Grow Nebraska
- Omaha 100
- Start Center
- Omaha Economic Development Corporation
- Revive Black Business Network
- Empowerment Network
- Carver Legacy Center
- Metro Omaha Women’s Business Center
- Hayes & Associates
- Business Seals
- Small Business Administration
- DreamBusiness
- Greater Omaha Chamber
- Urban League of Nebraska
- Midlands African-Chamber
- and others are focused on entrepreneurship and business growth.
“When we invest in small businesses, we invest in the heartbeat of our communities. These businesses don’t just provide services, they create jobs, generate local spending, and fuel economic growth. By empowering entrepreneurs in low to moderate-income communities, we build ecosystems of opportunity where every dollar earned circulates locally, strengthening neighborhoods and paving the way for generational prosperity,” said Veta Jeffery, CEO of Jeffery Consulting.
“These achievements are encouraging and proof that the focus on building an entrepreneurial economy-system is vital to building vibrant communities,” said Jim Reiff, Executive Director of Nebraska Enterprise Fund. “While a confirmation of our collective efforts, I see this as a call to action for the next five years and beyond. Each small business that expands or successfully starts improves all of the community.”
MOVING FORWARD
“The timing is perfect for this report as we turn our attention to Transformation 2030,” said Barney. “This should be a celebration point for Omaha and other cities and also inspire us all to push even harder after seeing what is possible.”
Investments through the North and South Omaha Recovery Program and other sources should help accelerate the pace of growth even more in Omaha over the next five years.
The additional funding is made possible through the partnership of the community and leadership of Senators Justin Wayne and Terrell McKinney to gain passage of LB1024 and LB531.
After a nearly unanimous vote in the Nebraska State Legislature and the signatures of former Governor Pete Ricketts and current Governor Jim Pillen, the legislation became law.
Awards were announced in January 2024 and The Department of Economic Development has led the allocation of funding and many Black-owned businesses benefitted from grants ranging from $50,000 to $2,000,000.
The future $30 million investment in the IHUB and $90 million business park in North Omaha will also make an impact.
These funds and other strategic investments will support the continued progress and help to increase the number of Black-owned businesses with employees. It also has an impact on future generations.
“When young people grow up seeing businesses start and thrive around them, they begin to dream bigger, knowing they, too, can build and contribute. This cycle of inspiration and opportunity fuels long-term economic resilience, ensuring that thriving businesses lead to thriving communities for generations to come,” said Jeffery.
Read the full Brookings report here: Driving prosperity: How Black-owned businesses fueled recent economic growth
For a listing of Black-owned businesses in Omaha. Revive Black Business Guide – Revive! Omaha
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More Details by Sector:
Analysis by Raheem Sanders, CEO of PPRP Innovations.
The growth in Black-owned businesses has not been confined to a single industry – it has been spread across multiple sectors of Omaha’s economy, with every major industry seeing increases. A U.S. Census Business analysis noted that from 2017 to 2019, the number of Black-owned firms grew in all sectors of the U.S. economy, and this broad-based growth has been reflected in Omaha as well.
Growth by Sector:
- Health Care & Social Assistance has been the #1 industry for Black-owned businesses in Omaha by total count of firms. In 2022, there were about 75 Black-owned health care/social assistance firms with employees, making up roughly 20% of all Black-owned employer businesses in Omaha. This sector saw about +56% growth from ~48 firms in 2017 to 75 in 2022. Nationwide, health care is also the top industry for Black business owners (49,872 such firms in 2022) (4).
- Professional & Technical Services and Construction each account for ~10–12% of Omaha’s Black-owned firms. By 2022, there were roughly 45 Black-owned professional service firms and 37 construction companies in Omaha – both nearly doubling since 2015.
- Other Services (personal services, nonprofits, etc.) nearly doubled to 30 by 2022.
- Transportation & Warehousing saw explosive growth from about 12 to 37 firms (~200% increase). Nationally, transportation/warehousing was the fastest-growing sector for Black owned businesses (nearly +150% from 2017–2022) (4).
- Administrative & Support Services also doubled (from ~15 to 30).
- Retail Trade and Accommodation/Food Services each expanded significantly (~100% growth).
- Real Estate doubled from ~6 to 15 (≈+150%), mirroring a national real estate surge (~102% growth) (4).
- Finance & Insurance remains the smallest category (growing from ~2–3 to ~4).
(Data Sources: Estimates for 2015–2017 are based on available Census percentages (1) and Omaha’s share of statewide data. Actual 2022 figures from Census/Brookings Institution (3)(4). 2025 is a projection assuming continued growth. All figures rounded.)
