OneUnited Is Working to be the Black Bank of the Future
Teri Williams, president of Boston-based OneUnited Bank, is optimistic about the future of black banking despite the struggles black banks have faced since the financial crisis. The recession was particularly difficult for black banks who served a larger percentage of moderate-to-low-income customers. But the economy is on the upswing, and OneUnited is poised to take advantage of the economic situation with a forward-looking tech strategy and new community outreach initiatives, including partnerships with local youth art programs. “It’s important for anyone to bank with institutions they trust and they feel is there to help them build wealth and financial stability,” said Williams. “Black banks have a history of servicing the communities we’re in and being a trusted source.”