Bigger and Better Business

The Bigger and Better Negro Business idea was first tested in 1924 with an imposing exhibition in Philadelphia. This was held in connection with the Conclave. Twenty-five leading Negro Businesses sent statements and over fifty sent exhibits. The whole show took place in the lobby of the YMCA. Several thousand visitors seemed to have been impressed. The response was so great that the 1925 Conclave in Richmond, Virginia voted unanimously to make Bigger and Better Negro Business the public program of the Fraternity, and it has been so ever since."

Phi Beta Sigma Fraternity, Inc., believes that the improvement and economic conditions of minorities is a major fact in the improvement of the general welfare of society. It is upon this conviction that the Bigger and Better Business Program rests. Since 1926, the Bigger and Better Business Program has been sponsored on a national scale by Phi Beta Sigma as a way of supporting, fostering, and promoting minority owned businesses and services.

Today, the Bigger & Better Business is still one of Phi Beta Sigma's national programs with three minor programs.

The Sigma Economic Empowerment Development Project (Project S.E.E.D.) is a Bigger & Better Business program developed to focus on two important topics of interest: Financial Management and Home Ownership.

This international focus provides useful information in each area that benefits the Phi beta Sigma membership, our families, and the communities in which we live.

Project S.E.E.D. is designed to be implemented at all organizational levels by alumni and collegiate chapters. Each of the program’s components are economically viable and relevant current concerns of our membership.

For college students today, financial management is a vital and necessary skill to be mastered in the new millennium. With the rising cost in campus living tuition charges, book, and transportation, coupled with the decreasing funding sources for scholarships, loans, and grants financial management is no longer optional. It is required.

Helping more low and moderate income Americans become homeowners is a national priority. Realizing the American Dream of owning a home, we seek to play a more important role in sharing positive information about the advantages of homeownership to our members, and help provide home ownership information that members can share within

Suggested Topics
  •  401(k) plans and other tax differed plans 
  •  Budgeting your work, working your budget 
  •  Building your child’s education fund 
  •  Building your financial portfolio on $25 a month
  • Choosing the components of your financial portfolio
  • Making the most of your retirement
  • Successful money management
  • Tax return preparation Suggested Topics
  • Affordable housing design
  • Bad credit,? You can still be a homeowner
  • Enhancing your housing strategies
  • First-time homebuyers seminar
  • HUD Auctions
  • Home ownership financing sources
  • When to refinance your mortgage
  • Successful steps to buying a home 
  •  Understanding the income qualification process

Suggested Speakers
  • College professors with experience in financial management
  • Consumer credit counselor
  • Financial planner
  • IRS representative or agent
  • Loan officer
  • Human resources specialist or generalist
  • Affordable housing advocates
  • Mortgage lenders HUD Representatives
  • Realtors and brokers
  • Fair housing organizations
  • Residential home builders
  • Public housing authorities
  • Banking and finance professionals

With so many tax benefits available today, taxes can serve as the starting point leading to greater prosperity for many people. In 2000, the IRS changed its approach to meeting
individual taxpayers’ needs for tax education, awareness and assistance by establishing an office called SPEC (Stakeholder Partnerships, Education and Communication).
In 2008 IRS-SPEC has cultivated a partnership with Phi Beta Sigma Fraternity,
Incorporated and share mutual goals in three key areas:

  • Promoting tax understanding and awareness
  • Preparing tax returns for free for low-to-moderate income people
  • Encouraging personal asset building and self-sufficiency through tax incentives
Mission Statement

To assist taxpayers in satisfying their tax responsibilities through collaborative efforts with IRS-SPEC
and thus creating and sharing value by informing, educating and communicating with members of the community

Guiding Principles

The International Headquarters of Phi Beta Sigma will strive to achieve this mission by:

  • Supporting volunteer-based initiatives to address underserved community segments, primarily through awareness campaigns and free tax preparation
  • Reaching out to our customers through trained Sigma personnel
  • Supporting fully this partnership
  • Leveraging our resources to reach rural as well as urban tax payers.

Our Partnership

Phi Beta Sigma Fraternity, Incorporated partnered with IRS-SPEC to make a difference in the community. In addition to strengthening local relationships and offering valuable services through our partnership, Phi Beta Sigma will:

  • Bring dollars and other resources into the community
  • Provide members and volunteers valuable personal skills and financial insights
  • Satisfy community outreach goals or requirements

In participation in the partnership, Phi Beta Sigma will be able provide the membership and community with information and assistance that need, want and value. Through this alliance with IRSSPEC, Phi Beta Sigma will reach the following audiences:

Low to moderate income population

Phi Beta Sigma will reach out to low –to moderate individuals, offering them tax credit assistance that puts more money in their pockets.

Older American population

With the aging population which includes our membership, Phi Beta Sigma will reach out to this segment and with the assistance of IRS-SPEC bring tax help and information to a tax payer group that often lives on a fixed income.

General population

As an international fraternity, Phi Beta Sigma in association w/IRS-SPEC, can further expand its community objectives in terms of Bigger and Better Business by providing tax information to people who have just had a child, started their first job, bought a home, retired, etc.


In terms of membership satisfaction and benefits this partnership w/IRS-SPEC offers members of Phi Beta Sigma valuable personal skills and financial insights.

Student Population

With our links to the collegiate population and the academic community, our partnership with IRSSPEC can add an increased sense of volunteerism to the list of attributes held by these future taxpayers. Collegiate members could provide valuable tax assistance and information to their parents and peers while learning more about the federal system.

Disabled Population

In reaching out to the disabled community, Phi Beta Sigma with IRS-SPEC can make this population aware of tax credits, alternative media and other tolls available to assist them in understanding and meeting their tax responsibilities.

The Strategy

Although there is no specific formula for reaching these shared goals through the strength of this partnership, Phi Beta Sigma w/IRS-SPEC commits to support local and national initiatives by offering support in the following areas:

  • Technical tax expertise
  • Research data based on tax filing statistics
  • Customized tax education
  • Marketing products and materials
  • Access to local and national partnership networks
  • Suggestions and support for building coalitions
  • Ideas for local and national partnership models

PBSFCU (Phi Beta Sigma Federal Credit Union) is a full-service financial services provider, serving Sigma's, Zeta's and their families internationally. While it is similar to a bank in terms of the services it provides, it is philosophically different in operation. Each dollar invested by members goes toward giving another member a reasonable loan rate. And in turn, investing members receive better rates and lower fees than they would otherwise get at typical banks and financial institutions. We call our customers 'members' because, in actuality, they all own a part of the credit union.

Our members are shareholders of the credit union - they earn dividends on the money they invest in the company. The money invested is then used to finance loans to fellow shareholders. One person helping another.

Many people find PBSFCU the only financial services provider they need. All PBSFCU accounts are insured to $100,000 by the NCUA, the National Credit Union Administration. This insurance provides protection on member accounts much like banks have for their accounts. Insurance can be expanded to multiples of $100,000 ($200,000, etc.) by careful titling of accounts. Our exceptional staff is dedicated to helping our membership. That personal commitment is what sets PBSFCU apart from the banks and other financial service companies. At a time when service levels seem to be at a frustratingly all-time low, PBSFCU scored extremely high in customer satisfaction surveys.

What We Offer

We offer Special Project Loans, Share Secured Loans, Collateralized Loans, Special Signature Loans. We offer loans for purposes of Home Improvements, Education, Wedding, Vocation, Bills/Loans Consolidation and Personal.


Membership in the Credit Union is open to Sigmas, Zetas, their families, the Fraternity, the Sorority, and their Regions and Chapters. A $28.00 minimum amount is required to open a share account, of which $3.00 pays the application fee and $25.00 purchases 5 shares at $5.00 each, deposited into the account.