OneUnited Bank
OneUnited Bank is the nation’s largest Black-owned bank, providing innovative digital banking solutions and financial services aimed at empowering urban communities. With over 50 years of service and a commitment to closing the racial wealth gap, OneUnited Bank leverages advanced technology and AI-driven insights to help customers make informed financial decisions and build generational wealth. The bank offers a range of products including checking and savings accounts, loans, and credit rebuilding services, all designed to foster financial wellness and inclusivity.
OneUnited Bank
OneUnited Bank is the nation’s largest Black-owned bank, providing innovative digital banking solutions and financial services aimed at empowering urban communities. With over 50 years of service and a commitment to closing the racial wealth gap, OneUnited Bank leverages advanced technology and AI-driven insights to help customers make informed financial decisions and build generational wealth. The bank offers a range of products including checking and savings accounts, loans, and credit rebuilding services, all designed to foster financial wellness and inclusivity.
TL;DR
Positioning: Nation’s largest Black-owned bank; markets itself as a Black-owned digital/internet bank
Mission: CDFI/MDI focused on affordable services and financial literacy to help close the racial wealth gap
Footprint: Branch presence in Boston, Los Angeles, and Miami
Products: Checking & savings accounts, loans, credit-rebuilding services, AI-driven financial wellness (WiseOne)
Leadership: Kevin Cohee (Chairman & CEO); Teri Williams (President & COO)
Received $10M deposit from Biogen (2020) and $10M deposit commitment from City National Bank (2024); Crunchbase lists a CDFI Fund grant
Company Overview
Problem Domain
Financial exclusion and the racial wealth gap; providing affordable banking, community development lending, and financial literacy for underserved communities.
Industry
Banking / Financial Services
Tech Stack
Funding Track Record
10000000.00 USD
Announced as a $10M deposit to support the #BankBlack movement; described as a capital deposit rather than an equity financing round.
10000000.00 USD
Announced $10M deposit commitment tied to community empowerment programming in Southern California.
Listed on Crunchbase as a grant with the CDFI Fund shown as lead funder.
Investor Signal
“Institutional capital support includes corporate deposit commitments (Biogen, City National Bank) and a listed grant relationship with the CDFI Fund.”