Craig was born to Diana Ealy (nee Davis) and Charles Ealy Sr. in Philadelphia Pa. He joined his older brothers Carl and Charles in their West Philadelphia home. Craig attended public school until he was accepted to Temple University. He was very involved in several areas of college life including participating on the Karate Team and the African American student club. It was at Temple that he met his future wife, Saundra. Craig graduated with a Bachelor of Arts degree. After graduation he was inducted into the Kappa Alpha Psi Fraternity. Craig and Saundra were married in 1975.

In 1979 their daughter Asha joined her older brothers Craig Michael and Rhawn. Also, that year Craig began his long career in banking with a position at Philadelphia National Bank in the Trust Department. Several years later he was recruited by the National Bank of Detroit.

Craig used his vast knowledge of banking by developing a trust department for aTucson, Arizona bank. Craig moved his family back to the east coast in the late 90's. He retired from the banking industry in 2016. He passed away peacefully in his Arizona home in 2026. Craig is survived by his wife Saundra, his brothers Carl and Charles Ealy, sons Craig Michael and Rhawn, and daughter Asha. And a host of friends, grandchildren and great grandchildren.