Our Impact
2023 Scorecard
How we are closing the racial wealth gap and fostering generational wealth.
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Our Impact
How we are closing the racial wealth gap and fostering generational wealth.
OneUnited Bank is the nation’s largest Black-owned bank, with 50 years of service and two decades of digital banking. OneUnited serves as a digital navigation system (GPS) for financial services to help Black America and its allies close the racial wealth gap.
OneUnited Bank is unique because it has developed a financial technology platform that allows the company to engage with customers in real time using state of the art technology to provide personalized data driven insights and proactive solutions.
OneUnited Bank utilizes its technology to create and distribute critically needed affordable access products and services to historically underserved minority populations.
Recruit large mission-driven deposits and money-market accounts from major corporations and governmental entities to support loan and fee growth to support the build out of our financial technology platform.
Secure strategic partnerships to expand services, such as business loans, home loans, insurance products, and retirement programs to build generational wealth.
Received the highest 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. OneUnited Bank has won the BEA Program award 12 times.
Originated over 2,500 financial emergency loans nationwide this year and almost 5,000 since launch to low-to-moderate income customers through our CashPlease small dollar, short term loan program, with no credit check.
In a “frozen” real estate market, originated affordable rental housing loans and single-family loans with over 60% in low to moderate income (LMI) communities that are also 80% or more minority. $0 loan losses in 12 years.
Generated over $100 million in mission-driven deposits from major corporation and municipalities to support loan growth and reduce borrowings.
OneUnited Bank received a CDFI Equitable Recovery Program (ERP) grant from the U.S. Department of the Treasury to expand lending, grant making and investment activities in low- to moderate-income communities and to borrowers with significant unmet capital and financial services needs that have experienced disproportionate economic impacts from the COVID-19 pandemic.
Repositioned OneUnited Bank to promote financial wellness, while offering exclusive and state-of-the-art digital banking solutions.
Received extensive media coverage with almost 200 articles generating 6 billion impressions. Building national consensus for the importance of utilizing technology to eradicate the racial wealth gap and to make anti-racism a core value of America.
Created significant social media presence with almost 40 million impressions to build the power of OneUnited’s brand to support the core mission of the bank.
Continued to support #BankBlack and #BuyBlack Movement to close the racial wealth gap.
Supported numerous corporations and community groups in delivering programs designed to support local and national Black communities. For example, sponsored Mass Black Expo in Boston, MA to support the growth of Black and small businesses throughout the Commonwealth.
Completed first Employee Team Survey. 90% of employees are satisfied to highly satisfied with their jobs, however there were many recommendations for improvement including more defined career advancement. The Bank is addressing recommendations.
Hired 4 interns into our Internship Program and trained them in social media, and retail banking. Hired 3 new Banker Associates into our Management Development Program for recent college graduates.
Continued OneUnited Employee Financial Wellness Program to offer free banking services to all employees, including employees with ChexSystems records.
Created Quality Assurance (QA) process to identify training needs, improve FAQs, and improve customer delivery.
Added new Compliance VP to separate Bank Secrecy Act and Consumer Compliance. Hiring for the position in 2024.
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