Community Banks: Stewards of the Neighborhood

A man in a red shirt and a woman in a blue shirt are sorting items at an outdoor event. The man holds a container, and the woman places items inside it.

Summary

Community banks are the hearts of our neighborhoods. At OneUnited Bank, we know that impact is everything. From advancing economic justice to encouraging financial empowerment, our story is one anchored in fighting for our community.

At community banks, we put local economic growth and personal relationships first. You are more than a number in an algorithm. We appreciate you as a customer and a partner in helping our community thrive.

Black banks are more likely to lend to Black people and in low to moderate-income communities. In 2016, according to the FDIC, only 14% of lending from national banks were to low to moderate-income communities compared to 65% for Black banks.

At community banks, we act as the champion of small businesses. We focus on preparing you to grow through financial literacy and the right business loan to take your idea further.

As the nation’s largest FDIC-insured Black-owned bank, we consistently invest in closing the racial wealth gap OneTransaction at a time and support the underserved through innovative initiatives and community-focused programs. Because, for us, our mission is deeply personal. We are founded, owned, and led by the community we seek to serve.

2023 Scorecard: A Commitment to Closing the Wealth Gap

In 2023, we made significant strides in addressing economic inequalities by launching WiseOne™ Insights, an AI-driven tool that offers personalized financial guidance. This initiative, paired with efforts to provide affordable financial services, has benefitted over 100,000 new customers since 2021.

Our dedication to low-to-moderate income communities is evident in our lending practices. For the 12th time, we have received the Bank Enterprise Award (BEA) from the U.S. Department of Treasury, for our community development lending, with over 60% in loans in low-to-moderate income communities.

A group of people wearing red "Unity" shirts pose for a photo in a parking lot in front of community bank, OneUnited Bank.

Joshua’s Heart Food Drive: Addressing Immediate Needs

Our recurring partnership with Joshua’s Heart Foundation highlights our commitment to alleviating food insecurity across our neighborhoods. The food giveaway event held in Liberty City in April 2024 provided families with a week’s worth of groceries and essential items, alongside a free Black Panther comic book promoting financial literacy.

This event underscores our dedication to addressing immediate community needs while fostering long-term financial education.

A person stands under a tent at an outdoor event, smiling and holding up a red T-shirt that reads "One Love One United." Various booths and people, including representatives from community banks, are visible in the background.

HBCU Picnic 2024: Supporting Educational Excellence

As a sponsor of the 2024 South Florida HBCU Picnic, we continued our support for Historically Black Colleges and Universities (HBCUs) and their pivotal role in education. Held at Florida Memorial University, this event not only celebrated the achievements of HBCUs but also contributed to the HBCU Scholarship Fund.

By investing in educational initiatives, we help create pathways for generational wealth and support our students’ academic and professional growth.

A group of people, including children, pose with backpacks and boxes in front of colorful balloons and decorations, showcasing the support from community banks.

Back to School Community Event: Preparing the Next Generation

Our involvement in the 2023 Back to School Community Celebration with Art Forever Miami reflects our commitment to educational support. The event included a school supply giveaway, free food, and entertainment, preparing students for a successful school year.

By contributing to such events, we help foster a positive arts environment and support families in need.

Banner displaying the "I Got Bank Contest WINNERS!" by OneUnited Bank, a leader among community banks, with headshots of six winners above their artwork and a selection of colored pencils and stars in the background.

I Got Bank Contest: Encouraging Financial Literacy from a Young Age

The 14th Annual “I Got Bank” Youth Financial Literacy Contest is a testament to our early financial education advocacy. By encouraging children to engage with financial literacy through essays or art projects, we aim to instill the importance of savings and investments from a young age.

Each year, ten winners receive $1,000 savings accounts, further supporting their financial journey.

Through these diverse initiatives, we address our community’s immediate needs while investing in long-term solutions for building generational wealth and financial literacy.

Community banks are important actors in supporting and uplifting their communities. We are working to scale our impact. Stay tuned and #BankWhereYouWantToBe!

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