OneUnited Bank Announces New Compton Branch
America’s Largest Black Owned Bank Opens State of the Art Branch in Compton, California
Los Angeles, CA – (February 23, 2022) – OneUnited Bank, the largest Black owned bank, announces the opening of its new state of the art branch in Compton, California on February 28, 2022. The Bank is excited to honor its roots and renew its long-term commitment to the City of Compton.
OneUnited Bank was forced to close its Compton branch in March 2020 after its landlord refused to renew its long-term lease to open a national chain sneaker store. Like many Black owned businesses that are displaced due to gentrification, the Bank was forced to either permanently close or relocate. Although the Bank considered permanently closing as more customers move to digital banking, its commitment to its Compton customers and the Compton community resulted in the decision to relocate. The new branch, located at 1495 N. Wilmington Avenue, Compton CA 90022, is less than 2 miles from the previous branch location.
The Bank looks forward to offering affordable financial services to the Compton community including its unapologetically Black Visa Cardsunapologetically Black Visa Cards that represent the issues in the Black community, BankBlack 2 Day Early Pay to receive your paycheck up to 2 days early and AutoSave, its keep the change program.
The Bank is continuing its support for Compton Jr. Equestrians who will attend the grand opening of the Compton Branch. Compton Jr. Equestrians was developed to serve inner city youth in Compton, along with surrounding areas. Founded by Jamie Vance and Randall Hook, natives of Compton, CJE proves the importance of giving back to the community.
“We are committing to closing the racial wealth gap in the City of Compton in our community’s long tradition of each one, teach one,” says Teri Williams, President & Chief Operating Officer. “We believe in defining our community by our assets, rather than our challenges, which is called Asset Framing. The City of Compton has many assets.”
OneUnited Bank (www.oneunited.com), is the largest (largest customer base) and first Black owned digital bank in America, a Minority Depository Institution (MDI) and a Community Development Financial Institution (CDFI), is a ten-time recipient of the U.S. Department of Treasury’s Bank Enterprise Award 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.