Why OneUnited Bank Was Founded: The Mission to Empower Black Wealth

Published by Willie G. Smith June 28, 2025

Introduction

In the fight for civil rights, the battles we often hear about involve marching, legislation, and powerful speeches. But one of the most critical fronts has always been economic. Enter OneUnited Bank—America’s largest Black-owned bank, founded to confront the financial injustices Black communities have faced for generations.

The Roots of Economic Resistance

In 1968, just after the assassination of Dr. Martin Luther King Jr., Black America was in mourning—but also in motion. From that pain rose a new wave of economic activism. Among the first to act was a group in Boston who launched Unity Bank & Trust Company, the city’s first Black-owned bank.

Its mission was simple yet powerful: Provide access to fair financial services for underserved Black communities.

Why Was OneUnited Bank Founded?

OneUnited Bank was founded to:

🔹 Fight economic discrimination – Mainstream banks denied loans, mortgages, and financial tools to Black Americans for decades.🔹 Support wealth-building – OneUnited was created to help individuals and families build generational wealth through homeownership, business development, and savings.🔹 Respond to systemic injustice – It was a direct response to the economic inequality that persisted even as laws changed.🔹 Circulate dollars in the community – The bank focuses on keeping money in Black neighborhoods longer, strengthening local economies.🔹 Educate and empower – Through financial literacy programs and tech-savvy tools, OneUnited makes smart banking accessible.

From Unity to OneUnited

In 2001, several historic Black-owned banks in Boston, Miami, and Los Angeles merged to become OneUnited Bank. Under the leadership of Kevin Cohee, the bank expanded its reach and mission.

Today, it serves customers nationwide through digital banking, community outreach, and initiatives like the #BankBlack movement.

OneUnited Today: A Movement, Not Just a Bank

OneUnited is more than a bank—it’s a symbol of economic self-determination.

✔️ Offers full-service online banking✔️ Provides resources to improve credit scores✔️ Promotes financial literacy for all ages✔️ Invests in communities traditionally overlooked✔️ Advocates for closing the racial wealth gap

Their mission is clear: Use banking as a tool for social change.

Why #BankBlack Matters

Supporting OneUnited means you're not just opening an account—you’re investing in a movement. The #BankBlack initiative encourages Black Americans and allies to move their money to Black-owned institutions that reinvest in their communities.

Every deposit, loan, and investment become a building block toward a more just and economically free future.

Final Thoughts

OneUnited Bank stands at the intersection of history, justice, and economic empowerment. Its roots go deep, but its mission is more relevant than ever. In a world where financial inclusion still isn't universal, OneUnited offers a path forward.

Banking Black isn’t just symbolic—it’s strategic. It’s transformative.

Ready to Make Your Money Matter?

Explore more about OneUnited Bank at https://www.oneunited.comOr join the conversation online with #BankBlack and #BuildBlackWealth

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