one united bank black owned

A historic partnership has been born between OneUnited Bank, the largest Black owned bank in the country, and #BlackLivesMatter to organize. We're America's largest Black-owned bank, working to empower the communities we serve. #BankBlack Member FDIC. Equal Housing Lender. America's largest Black-owned bank is taking the #BankBlack and #BuyBlack movements to new levels. OneUnited Bank debuted the Greenwood Visa.

OneUnited Bank celebrates New Black Wall Street with Greenwood Visa card

OneUnited Bank, a Black owned digital bank, has introduced its Greenwood Card in celebration of New Black Wall Street. This One united bank black owned card showcases images from the Greenwood District of Tulsa, Oklahoma, which was known as Black Wall Street prior to being destroyed by white supremacists in 1921, according to a press release.

The card is part of a larger project to strength Black-owned businesses through the #BankBlack and #BuyBlack movements. Kevin Cohee, chairman and CEO of OneUnited Bank, is the great great one united bank black owned of Charles Cohee Jr., who won 40-agree allotments for Freedmen in Oklahoma that helped build Black Wall Street.

"My ancestors fought for civil rights over 100 years ago and won 40-acre allotments for Freedmen that fueled Black wealth in Oklahoma," Cohee said in the release. one united bank black owned must continue our legacy by celebrating our amazing past as we build the new Black Wall Street."

Bank / Credit Union

Black-owned Bank

OneUnited Bank

African-American-owned bank based in Boston, Massachusetts

OneUnited Bank is an African-American-owned and managed Massachusetts-chartered trust company headquartered in Boston, Massachusetts. It is also registered by the Federal Deposit Insurance Corporation (FDIC), and certified as a community development financial institution (CDFI) by the United States Department of Treasury. As of April 30, 2018, OneUnited Bank maintained $661.2 million in total assets.[1]



The bank was founded in 1968 as Unity Bank & Trust Company with $1.2 million in capital in the then-Dudley Square (now Nubian Square) neighborhood of Boston, aiming to revitalize the area by lending exclusively to local businesses and homeowners. Unity Bank failed after nine years of operations, and a newly organized bank, Bank of Boston Commerce, was formed.

Boston Bank of Commerce expanded the model of community development to include partnerships with large corporations[which?] and government agencies.[which?] Its chairmen included United States SenatorEdward Brooke. With total assets of $257,183,000 and total deposits of $125,216,000 as of 31 December 2000, Boston Bank of Commerce filed for application to merge with Founders National Bank of Los Angeles, California, its four offices in operation and total resources of $107,009,000 and total deposits of $98,659,000 as of December 31, one united bank black owned. "Favorable" statutory factors, other relevant information and Comptroller of Currency reports led to the approval of the merger transaction application from Boston Bank of Commerce, by the Board of Governors of the Federal Reserve System, the Director of 1st edition 1999 pokemon booster box Office of Thrift Supervision, and the Attorney General of the United States.[2]


In the mid-1990s, following the economic downturn that adversely affected other northeast-based regional banks, Boston Bank of Commerce was placed under a cease-and-desist order by the FDIC and charged to increase capital and improve the quality of its loan portfolio. In 1995 a significant capital infusion was made under the current Chairman and CEO Kevin Cohee and President and COO Teri Williams,[3] along with a new strategy of acquiring African American-owned banks and thrift institutions in major metropolitan markets.[which?] When the bank’s current senior management team assumed one united bank black owned of Boston Bank of Commerce, the institution temporarily had negative equity and significant asset problems. Its management subsequently acquired three African-American owned banks over several years that were troubled or on the verge of failure. Boston Bank of Commerce became the first interstate African American-owned bank in the country through its acquisition of Peoples National Bank of Commerce, South Florida’s only African-American-owned bank.


In 2001 the institution merged with Founders National Bank of Los Angeles, of which the majority owners were former professional basketball player and businessman Earvin "Magic" Johnson, musician Janet Jackson, and former Motown Records President Jheryl Busby.

Boston Bank of Commerce rebranded as OneUnited Bank.[4]

OneUnited Bank offers an annual financial literacy essay contest for youth, and President Teri Williams wrote a children’s book, I Got Bank! What My Granddad Taught Me About Money, to teach financial literacy to urban youth.[5]

In the latter part of 2008 and the beginning of 2009, OneUnited experienced financial problems as their equity investment in Freddie Mac and Fannie Mae became worthless. In order to stabilize the institution, the Bank applied for and received $12 million from the Troubled Asset Relief Program (TARP).[6] Since 2009, the bank has demonstrated sustained profitability.[7]


OneUnited Bank's branch staff use customer relationship management (CRM) software from on iPads, in its Boston, Los Angeles and Miami branches.[8]

In 2013, regulators from the Massachusetts Division of Banks and the FDIC said there has been “minimal lending activity” in Boston. They also cited a lack of lending in the Miami market that amounted to "substantial noncompliance". OneUnited had made or purchased 34 loans in Massachusetts in three years, according one united bank black owned the report. Of those, 26 took place in Suffolk County, where the bank operates three offices. The bank expanded lending and refinancing, mostly for multi-family properties in Los Angeles, issuing 78 loans. But it made just eight loans in Boston and three non huntington atm fees Miami. Nationally, only nine of the bank’s loans last year were made to low- or moderate-income borrowers.[9]

In January 2014, OneUnited introduced the UNITY Visasecured credit card called the "Comeback Card", for customers with low credit scores.[10] The card includes training for customers to improve their credit score. OneUnited Bank received recognition as a Notable IT Initiative from Community Banks by American Banker for the UNITY Visa Card's "Me" app, which allows consumers to apply for the card and, if they are approved, it allows them to open a deposit account to fund it.[11]

Beginning November 1, 2014, OneUnited removed online and over-the-phone credit card balance pay services. Bank branches that currently provide these services over-the-counter are now only located in the metropolitan areas of Boston, Miami, and Los Angeles. Sending a check by mail is the current de facto payment method for Unity Credit Card holders who live at long distances from bank branches.[12]


OneUnited came to media attention in 2020 after offering a Visa card featuring an image of abolitionist, slave rescuer and political activist Harriet Tubman apparently performing a "Wakanda Forever" salute (from the film Black Panther). The image was created by Miami, Florida artist Addonis Parker; he claimed that the gesture was intended to be the American Sign Language sign for "love."[13][14][15]


In 2004, 2005, 2006, 2007 and 2008, OneUnited Bank won the Treasury Department's highest award – The Bank Enterprise Award.[12]

See also[edit]


  1. ^"OneUnited Bank Financial Reports". 2018-04-30. Retrieved 2018-07-12.
  2. ^Lane, John M. "Associate Director". FDIC: Decisions on Bank Applications. FDIC. pp. Home - Regulation & Examinations - Laws & Regulations - Decisions on Bank Applications. Retrieved 9 January 2016.
  3. ^"Management - OneUnited Bank". Retrieved 24 April 2017.
  4. ^"FDIC OneUnited Bank BankFind Results". FDIC. FDIC. pp. Deposit Insurance - BankFind - OneUnited Bank - Details - History. Retrieved 9 January 2016.
  5. ^"Book Review: "I Got Bank: What My Granddad Taught Me About Money"". The New Citizens Press. Retrieved 24 April 2017.
  6. ^Kerber, Ross; Healy, Beth (14 March 2009). "Bank's actions called improper". Retrieved 24 April 2017 – via The Boston Globe.
  7. ^"Federal examiners protested help for politically connected bank, e-mails show". Retrieved 21 November 2018.
  8. ^"OneUnited Deploys New CRM Tool to Drive Sales, Improve Service". Retrieved 24 April 2017.
  9. ^"OneUnited Bank gets 'Needs to Improve' on community lending". Boston Globe. Retrieved 24 April 2017.
  10. ^Bank, OneUnited. "OneUnited Bank To Launch UNITY Visa, The Comeback Card On January 15, 2014". Retrieved 24 April 2017.
  11. ^Issa, Erin El (2014-07-25). "OneUnited Bank's UNITY Secured Credit Card: The Comeback Card". NerdWallet. Retrieved 2020-02-06.
  12. ^ ab"Everything You Need to Know About The New #BankBlack Movement". Essence. Retrieved 2020-02-06.
  13. ^"OneUnited Bank's New Harriet Tubman Card Causes Controversy".
  14. ^"OneUnited Bank Doubles Down on Harriet Tubman Debit Card". TMZ.
  15. ^"Is that Harriet Tubman on a adams community bank online banking debit card, throwing a Wakanda salute?". NBC News.

External links[edit]


Black-Owned OneUnited Bank Sees Surge in Business One united bank black owned BLM Movement

OneUnited Bank -- which boasts being America's largest Black-owned bank -- is growing even larger along with the Black Lives Matter movement . and helping folks in need.

The bank's CEO, Kevin Cohee, one united bank black owned TMZ . the numbers are in for June, and they're pretty stunning. Cohee says OneUnited boosted its customer base by 50 percent in the last month alone, and saw a record 50 million deposits into various accounts.

One of those customers is Kammeo Bennett, a mother of 7 who was working as an Uber driver when the coronavirus hit. The pandemic sent her income to a screeching halt one day, but the bank helped her get back on her feet.

Kammeo needed money to support her family and reached out to a few banks about a PPP loan, but didn't follow through with an application until she found OneUnited Bank, which, as a black-owned institution, made her feel more comfortable as a black woman.

Bennett ending up being the first OneUnited customer awarded a PPP loan. She says she couldn't believe it when the bank called, and says the loan was her saving grace.

Cohee says there's an increased demand for the bank's corolla beach camping across the board, and website traffic was up 100 percent in June compared to all of last year!

We're told the boost in biz has resulted in OneUnited doubling its social media team, and increasing its customer service reps by 50 percent since March.

Though the surge in OneUnited's numbers coincides with a month in which Americans took to the streets toprotest racism and police brutality, Cohee says the wheels were set in motion before the coronavirus pandemic shutdowns.

Cohee attributes the rise in business beginning in March to some new technology rollouts that made online banking at OneUnited easier. It also had a hit with its Harriet Tubman debit card a month earlier.

However, the CEO says after the news of Ahmaud Arbery's slaying and the death of George Floyd at the hands of police officers . the Black community began focusing on supporting Black business more, including the bank.

Cohee says the institution is founded on engaging in the social activism that people want to support . and that's the major reason for the spike.

As for that activism . OneUnited is supporting Blackout Day 2020 on July 7, an economic boycott urging people to support Black-owned businesses exclusively.

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OneUnited Bank Review

SmartAsset's Overall Rating






Service Quality


Financial Health


Key Highlights

  • Low Fees
  • Highly-Rated Mobile App


Started in 1982, OneUnited Bank has assets totaling $658 million and deposits totaling $373 million, ranking it as a medium-size bank. OneUnited Bank, whose headquarters are in Boston, Massachusetts, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, OneUnited Bank is a great bank that you should seriously consider, with a rating of 4.3 stars out of 5 one united bank black owned our team. OneUnited Bank offers the basic set of product offerings, which include savings accounts, checking accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings one united bank black owned. If you're looking for a checking account for everyday use, OneUnited Bank's ordinary checking account does not have a monthly fee. Finding a bank with free checking and a high interest rate savings account is the best bet for returning the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

The is one united bank black owned weighted weather radar kill devil hills nc 27948 of rates, fees, service quality and financial health.Read more

When a component rating is unavailable, the overall rating is calculated as an average of the remaining available ratings.

The Rates rating represents an aggregate of interest rates for specific bank products measured against the national average interest rate for each product. Product interest rates may vary by branch. Rates shown reflect the highest available nationwide.
The Fees rating is an assessment of the bank's fees measured against the national average fee amount for particular services and is also affected by whether or not the bank refunds ATM fees.
Service Quality
The Customer Experience rating is a weighted average of the Mobile Rating and the Consumer Satisfaction Score, which is based on complaints brought to the Consumer Financial Protection Bureau (CFPB).
Financial Health
The Financial Health rating is based on the Texas Ratio, an indicator that warns of credit problems at particular banks: anything less than 5% is considered Excellent; less than 20% is Very Good; less than 50% is Good; less than 90% is Fair; and over 90% is Poor.


With a savings rate of 0.20%, OneUnited Bank ranks poorly in comparison to the national average. OneUnited Bank's one-year CD earns at a rate of 0.90%, while its highest-yielding money market account earns at a rate of 0.50%. Given its noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How OneUnited Bank's Savings Rates Compare

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OneUnited Bank typically has extremely low fees as compared against the national average. With no monthly fee, OneUnited Bank is ideal for people who want a simple checking account. OneUnited Bank does not refund out-of-network ATM fees, meaning you will have to locate an OneUnited Bank ATM or pay the ATM charge.

Monthly Fee$0National Average: $3.21

Non-network ATM FeeN/ANational Average: $1.20

Overdraft FeeN/ANational Average: $35.00

Back to Overview

Service Quality

OneUnited Bank is a brick-and-mortar bank, with five total branches in California, Florida and Massachusetts. It also offers access to mobile and web apps for an easy mobile-banking experience. OneUnited Bank's online and mobile banking platforms receive high praise from users. With 1,400 customer reviews on Apple and Android platforms, the OneUnited Bank mobile app rates a 4.5 out of 5 (compared to the national average of 3.8). You can utilize OneUnited Bank's app to manage your accounts by monitoring monthly statements, sending and receiving money as well as reaching support representatives. OneUnited Bank receives an exceptional consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating4.5/5

Consumer Satisfaction Rating5.0/5

Online Banking PortalNo

Live ChatNo

Back to Overview

Financial Health

OneUnited Bank is td bank north customer service medium-size bank and has $658 million in assets and $373 million in deposits. OneUnited Bank's Texas Ratio is 10.53%, signifying a small opportunity of failure. Additionally, OneUnited Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis


High Risk75%50%20%10%Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare OneUnited Bank to Other Competitive Offers

Products Offered

ProductCurrent Terms and RatesMinimum Balance for APY
Savings Account 0.2% APY $200
Checking Account 0.4% APY $100
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 1.05% APY
  • 36 Month: 1.20% APY
  • 48 Month: 1.30% APY
$500 for all terms
Money Market Accounts 0.4% APY 0.5% APY $10000 $15000

OneUnited Bank offers a basic array of deposit products like savings accounts and checking accounts. OneUnited Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. OneUnited Bank's CD rates are fair in comparison to other U.S. banks.

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Find a OneUnited Bank Near Me

OneUnited Bank has five physical branches across the U.S.

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2 Replies to “One united bank black owned”

  1. Positive Echo he makes less money at a non profit than she would lobbying. Allot less. It’s not that hard to get your old job back most of the time.

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