ONEUNITED BANK ANNOUNCES $1 MILLION COMMITMENT TO “YES! IN OUR BACKYARD” COMMUNITY INITIATIVE PROJECT
An initiative committed to promoting equal opportunities to increase wealth through real estate for the 79th Street corridor residential neighborhoods
MIAMI, FL – August 18, 2015 – OneUnited Bank, the largest African-American owned bank in the United States, announces $1 million commitment to “Yes! In Our Backyard” – a community based initiative project to help change the lives of Liberty City residents and help build long term, generational wealth.
The twelve month initiative begins on Tuesday, September 1, 2015 and targets OneUnited Bank’s “backyard” community (79th Street corridor neighborhoods covering 62nd Street to NW 95th street and NW 7th Avenue to NW 37th Avenue). This program is the sequel to the OneUnited Mural project, the revolutionary 550 square foot mural themed “Thunder & Enlightening,” painted on the facade of the bank’s Miami branch.
“OneUnited Bank is committed to helping families become 1st time homeowners or refinance their homes at today’s attractive interest rates and we’re happy to focus on “our backyard!” said Teri Williams, President & COO of OneUnited Bank.
In a series of commitments to their surrounding community, OneUnited Bank’s “Yes! In Our Backyard” program details are as follows: OneUnited Bank’s $1 million commitment will provide the following:
- Up to 10 first mortgage home loans under the UNITY Home Loan Program to First-time Homebuyers with a household income at or below 80% AMI or in census tracts at or below 80% AMI.
- Partner with organizations to provide financial education on four levels:
- Homebuyer education
- Down payment assistance
- Budgeting for better living
- Stewardship by Neighborhood Watch/Home Owners’ association
- Free office space for non-profits and counseling agencies to deliver services and other information to support the curriculum listed above.
- Provide the Waive Program to waive credit report, appraisal and other lender fees up to 12/31/15.
- Monthly Pre-Qualification Sessions
OneUnited Bank is committed to heighten the role of putting an end to all forms of negative discrimination including the “Not In Our Backyard” sentiment and creating equal opportunities for harmonious, thriving neighborhoods in the Liberty City community.
Community Partners: South Florida Board of Realtists; Housing Foundation of America; Haitian American CDC; Neighborhood Housing Services of S. Florida; 79th Street Initiative; Expert Resource Community Center.
OneUnited Bank (www.oneunited.com), a Minority Depository Institution (MDI) and a Community Development Financial Institution (CDFI), has received the Bank Enterprise Award from the U.S. Department of Treasury for ten years due to its community development lending. Its mission is to be the premier bank serving urban communities by promoting financial literacy and offering affordable financial services.
MEDIA CONTACT: Suzan McDowell, Circle of One Marketing, [email protected] or 305-576-3790.