OneUnited Bank, with offices in California, Florida and Massachusetts, is the premier bank for urban communities. Its mission is to provide affordable financial services to support economic development in urban communities and to maintain superior financial performance to maximize shareholder value. As the first Black online bank and the first Black interstate bank in the country, OneUnited Bank unites urban communities to share ideas, technology and management resources to better meet the banking needs of inner city communities.
The recent #BankBlack social media campaign has brought black banking back into the national consciousness. The movement has inspired thousands of people across the country to transfer or deposit millions of dollars into black-owned banks for the first time. With this support, black-owned banks invest in urban communities, employ African Americans, and inspire black home ownership. For those considering making the change, here is a list of 13 banks to consider, including CDBA members United Bank, Industrial Bank, Harbor Bank of Maryland, Broadway Federal Bank, OneUnited Bank, Carver State Bank, First Independence Bank, GN Bank, and Metro Bank.
Historically Black-owned banks have been a foundational pillar for the community by providing African Americans access to financial services and capital for businesses. Now, with movements such as #BankBlack, social media has brought awareness to the importance of banking Black and using our money to back these institutions. For those interested in making the shift over, Rolling Out recommends five high-performing black banks, including CDBA's Industrial Bank, OneUnited Bank, and The Harbor Bank of Maryland.
In celebration of this year's Black History Month, OneUnited Bank, the largest Black owned bank in the United States, recently launched its Royalty Campaign by introducing its new King Visa Debit Card. "We agree with James Baldwin," states Teri Williams, President & COO. "Our crown has already been bought and paid for. All we have to do is wear it." The bank acknowledges respected public figures such as Aretha Franklin, Dr. Martin Luther King, and Lebron James as inspirations behind the card.