A year ago #BankBlack was born, and our world changed!

We want to thank rapper Killer Mike for his call to action to our community to move our money to Black owned banks. Thank you for being such a strong advocate for Black owned businesses and for your continued call for our community to BankBlack. Over the past 12 months, over $50 million in deposits has moved to Black owned banks!

It seems the stars are aligned…literally…between the bookends of Killer Mike’s call to action in July 2016 and Jay Z’s 4:44 in July 2017. Both artists are sending the Black community a clear message to use our $1.2 trillion in annual spending more purposefully. Both artists are promoting collective economics!

The Jay Z album, 4:44, is full of rich financial literacy lessons throughout its lyrics that we have been advocating through the #BankBlack movement. Here are just a few:

A loss ain't a loss, it's a lesson Appreciate the pain, it's a blessin - Smile, Jay Z 4:44

Yes, whether you haven’t saved, have a ChexSystems record or just feel broke, it’s never too late for a new beginning. You can take the #BankBlack Challenge and open a savings account, then set up an automatic savings plan by directly depositing whatever you can afford every week or month. Before you know it, you’ll have a rainy/sunny day fund! Or you can open a second chance checking account if you have a ChexSystems record and manage your bank accounts online and more responsibly.

You wanna know what's more important than throwin' away money at a strip club? Credit. - The Story of O.J., Jay Z 4:44

Many of us experienced a “bump in the road” during the Great Recession such as a loss of job, divorce, illness, loss of business, foreclosure and even bankruptcy that tanked our credit score. And yes, credit is important. That’s why OneUnited Bank offers the UNITY Visa secured credit card and “How to Rebuild Credit Program” to help rebuild credit.

I coulda bought a place in Dumbo before it was Dumbo, For like 2 million. That same building today is worth 25 million. Guess how I'm feelin? Dumbo. - The Story of O.J., Jay Z 4:44

The biggest difference between black and white wealth today is the value of home equity. There are many historic reasons why the Black community has significantly less home equity including “redlining,” where banks refused to lend in Black communities (literally drew red lines around Black communities on a map), to predatory lending, where lenders offered mortgages at disadvantageous terms in Black communities that resulted in higher foreclosures rates and loss of Black wealth. Yet, we have another opportunity to build wealth as inner city communities have become “popular” again. OneUnited Bank President & COO, Teri Williams, encourages the Black community to buy in urban communities, “even if you have to buy a hut!” We offer home loans in Boston, Miami and Los Angeles and will be sharing the real deal on the home loan process in our next Facebook Live event. Stay tuned…

But I'm tryin' to give you a million dollars worth of game for $9.99. - The Story of O.J., Jay Z 4:44

Finally, a rap artist sharing wisdom on investing, credit and making good financial decisions (and yes, life decisions…the apology was nice)! Today, we celebrate the 1st anniversary of the #BankBlack and #BuyBlack movement…as we witness its evolution. We know 4:44 will be more than a moment, but a movement where hip-hop teaches our children that it’s not how much you make and spend, but how much you invest, build and leave for the next generation!

Our children will NOT be “livin’ rich, but dyin’ broke!”

OneUnited Bank

OneUnited Bank, the nation’s largest Black-owned bank and FDIC insured, understands we have to focus on money and technology to close the racial wealth gap. With your support, by simply opening and actively using a OneUnited Bank account, we will continue to accomplish our mission!

  • Stanley Black
    Interested in this movement
    August 4, 2017 Reply
  • Talib Salaam
    I love to see a financial organization take leadership to educate the Black Community about financial responsibility. I'm going to move my money to One United as soon as possible. AWESOMENESS!!!
    August 6, 2017 Reply
    Im glad have my name on the list of people who supported this movement
    August 18, 2017 Reply
  • R. Denise Link
    This is great information. I am definately interested in banking black.
    August 18, 2017 Reply
  • Tia
    Great article! One of my 2017 goals was to #BankBlack . So far I'm happy I've moved my savings to OneUnited.
    August 18, 2017 Reply
  • Paula Barnett
    Just opened my account. Let's get it! B1
    August 18, 2017 Reply
  • Shaquilla Williams
    I would love more information!! Thank you so much!
    August 18, 2017 Reply
  • Yolanda Olanrewaju
    I'm very interested in united bank and its amenities it has I want to support our Black Businesses. But we lag professionalism from our people.. I will take this leap of faith.
    August 19, 2017 Reply
  • Aricia Farlough
    I am a single black women who work hard but my credit is bad right now, I lost my second job and have made some bad decision and my credit is bad and I don't know how to fix WHAT Can I Do . I don't know where to begin. I feel like I am about to lose it all banks don't help when your in whole sign please HELP
    August 20, 2017 Reply
  • Leon Blunt
    August 21, 2017 Reply
  • Sonia
    Please get a OneUnited Bank in Brooklyn
    August 21, 2017 Reply
  • Karl
    I live in the Bronx NY. I have a little over $50 gran in Bank of America and at the Municipal Credit Union. If they had a One United Bank in New York City I would proudly transfer my funds $$$$. Especially if it can help the black communities. When is the Bank coming to New York City?
    August 22, 2017 Reply
  • Karl
    Great! I am definitely considering opening an account but I will have to give a little more time on exactly when. This is something I wish could have came along much sooner.. I remember someone else tried to do it but not many people was willing go for it.
    August 22, 2017 Reply
  • Joyce Harris
    I am very interested in this cause. The only way we as a people have made any change in this country is in their pockets. I have to say in light of recent events my eyes have been open, I was definitely sleep.
    September 26, 2017 Reply

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