Black America and its allies demonstrate understanding of how to use massive spending power

Los Angeles, CA – July 7, 2020 – The Blackout Coalition, in partnership with OneUnited Bank, is proud to announce the success of #BlackOutDay2020. Black America and its allies successfully demonstrated their understanding of how to use their spending power to create positive change in America. With over two million registering their support on social media, and millions more committed to the process, Black America and its allies are prepared to utilize their economic power to ensure corporations and governmental entities recognize and respect the political, social and economic rights of Black Americans.

Calvin Martyr, one of the founders of The Black Out Coalition, stated “Black America and its allies can and will use our spending power to demonstrate that today is a new day in America. We believe in justice and equality for all Americans.”

#BlackOutDay2020 started out as a big idea on social media and quickly caught fire, going from non-existence to becoming a nationwide conversation and movement to organize our spending power to create positive social change in America. Across the nation, America is mourning the deaths of too many innocent Black people who have been killed by racism. Peaceful protestors, including diverse ethnicities and generations, are fighting for justice for the many lives lost to police brutality and violence at the hands of vigilantes. Today elected officials, corporations and organizations are joining the movement to address systemic racism at all levels from the board room to senior management, staffing, policies and brand name. Change is in the air; Black America will no longer tolerate injustice and inequality.

In 2016, the #BankBlack and #BuyBlack Movements began with a simple text and call to action from rapper and activist Killer Mike to Black America to move its money to Black owned banks, to garner the economic spending power of Black America and re-channel it back into our communities. Since that time, while corporate America remained relatively silent, OneUnited Bank actively supported social justice movements including #BlackLivesMatter, #TakeAKnee, the #1619Project…and now the incredibly successful #BlackOutDay2020. The Bank has consistently encouraged the Black community to use its considerable financial might more purposefully to send a message that is part protest, part progress. Today with the backdrop of proven systemic racism, the Black community is facing another pivotal moment in time.

“As the largest Black-owned bank in America, we are compelled to play a leadership role to galvanize our community and allies in support of #BlackOutDay2020, and to fight for social and economic justice,” stated Kevin Cohee, Chairman & CEO of OneUnited Bank. “We need to use our power – our spending power, our vote and our voice – to demand criminal justice reform and to close the racial wealth gap.”

Media Inquiries:
Suzan McDowell, Circle of One Marketing
[email protected], or by phone at 305-576-3790.

ONEUNITED BANK:
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.
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