Black Money Series: A conversation with Thelma Johnson from Albany Community Together

Justin Minott from the African American Alliance of CDFI CEOs interviews Thelma Johnson, President and CEO of Albany Community Together, focusing on her journey, mission, and the impact of her work. Here is a brief recap of this powerful conversation:

Justin: Yes, yes! Hello, LinkedIn! Justin Minot here from the African American Alliance of CDFI CEOs, and I am joined today by the powerful world changer, Thelma Johnson, President and CEO of Albany Community Together. The acronym is ACT, which I love because it sums up so much of what you all do. It’s so good to have you here today!

Thelma: Thank you! Thank you for the invite and for having me, of course.

Justin: You know we love to start with stories. So, Thelma, tell us the making of Thelma Johnson. How did you end up in this role? I know you have an inspiring story from your childhood. Let’s hear it!

Thelma: So I’ve been in this role for over 20 years, and it’s been quite a journey. Growing up as one of 13 kids, we took on a lot of responsibility. We always joked that my parents had three sets of kids—four in the oldest, five in the middle (my set), and the youngest set. As the middle group, we took on a lot of the responsibility, especially since by the time we came around, my parents were a bit worn out.

My dad was a small business owner— a carpenter who built homes and convenience stores—and we were all involved from a young age. I started helping with payroll and admin tasks in middle school, learning about finance and business, especially within the Black community. My parents taught us to be giving, which shaped my understanding of family, struggle, and support—lessons that still guide me today.

Justin: I love that! You weren't just curious, but also learned how to get things done. That’s clearly served you well in the CDFI industry as you’ve grown Albany Community Together. So, can you tell us about the formation of Albany Community Together and how you got involved with the organization?

Thelma: ACT was founded after the 1994 flood in Albany, Georgia. It was devastating to the Black community. The city and four local banks created a revolving loan fund to support small Black and low-income businesses on the south side. I joined as VP of Business Lending shortly after the organization was founded, during a time of uncertainty when the president had left, and the banks were pulling out.

I had just left a stable job with the Georgia Department of Community Affairs, with young kids at home, and a lot of uncertainty ahead. One day, while sitting at the desk of the former president, I prayed for guidance and felt a clear message that I still had a job. When I opened a notebook, I found a four-year funding commitment from the city. I reached out to the city manager, who said ACT was an organization that "wouldn't die," and agreed to honor the contract.

With the city's support, we expanded beyond Albany to serve all of Southwest Georgia, became an SBA micro-lender, and got certified as a CDFI. That was 20 years ago!

 Justin: Oh my goodness, you’ve got me feeling inspired! This is beautiful, so, let’s dive into how you grew the organization from there. You had this window of opportunity—what were the steps you took to capitalize on it and grow Albany Community Together into the impactful organization it is today?

Thelma: You know, as with any business owner, I needed to understand what the product was that we had. Our initial product offering was very limited; we could only service businesses in the south side of Albany. However, many of those businesses faced restrictions that made it hard for them to rebuild after the flood, especially since some had already tapped into disaster assistance funding. I realized that if we were going to stay in business, we needed to diversify our funding sources.

At that time, we relied solely on the city of Albany for funding and the repayments from the loans we issued. To grow and sustain ourselves, we had to expand our market reach. That’s when I began to look for other opportunities. I joined several trade associations and membership organizations to connect with like-minded individuals in the industry, learn from them, and see if their successful strategies could be replicated in Albany, Georgia.

We also focused on hiring staff who could rise to the challenge and meet the community's needs. I believe in leading by example; I don’t ask my team to do anything that I wouldn’t do myself. I always ensure that they know I genuinely care about them and their families. It’s essential to cultivate a supportive work environment where everyone feels valued and motivated to contribute to our mission.

Justin: That’s such an important approach, Thelma. Your commitment to your team and community is inspiring! Thank you for the work that you do and continue impacting the community!

Thelma: Thank you Justin! I certainly will!

Thank you for reading! You can watch the full interview HERE. Be sure to connect with Thelma and follow her wiork to stay connected to the impact.