Largest Black-Owned Bank Reaches Over 100,000 Customers
OneUnited Bank recently announced that it has reached over 100,000. Considered the largest Black-owned bank, OneUnited currently holds five branches in three states which include Los Angeles, CA; Miami, FL; Boston, MA; Dorchester, MA; and Roxbury, MA locations.
"Our customer base continues to grow rapidly, and we have expanded access and now have over 100,000 locations to better meet their needs,” said Teri Williams, President & COO of OneUnited Bank. “Importantly, we're on our way to fulfilling Black America's long-held dream of organizing our spending power to create social and economic equality in our society."
OneUnited Bank is the premier bank for urban communities, the largest Black-owned bank, the first Black internet bank and a Community Development Financial Institution (CDFI).
Its mission is to provide affordable financial services to support economic development in urban communities and maintain superior financial performance to maximize shareholder value. OneUnited is an FDIC insured bank and an equal housing lender.
The bank attributes most of its success due to a nod from rapper and activist Killer Mike who urged Black America to move their money to a Black-owned bank back in 2016.
After the murder of George Floyd, the OneUnited received another surge of customers.
This milestone has not been achieved by a Black bank since Maggie Lena Walker, the first Black woman and first woman bank president in the United States, founded St. Luke Penny Savings Bank in Richmond, Va., in 1903.