OneUnited Bank, the largest Black-owned internet bank in the country, announced the achievement of a milestone of over 100,000 customers.
The Bank credits its social justice activism and its technology platform for its rapid growth.
In 2016 due to the spate of murders of Black men, rapper and activist Killer Mike urged Black America to move their money to a Black-owned bank, spawning the #BankBlack movement.
After the 2020 murder of George Floyd, #BankBlack saw another surge. Tens of thousands heard the call and joined the “unapologetically Black” OneUnited Bank, bringing the Bank to over 100,000 accounts, and continuing its leadership as the largest Black owned bank, focusing on closing the racial wealth gap and creating generational wealth.
This milestone has not been achieved by a Black bank since Maggie Lena Walker, the first Black woman and first woman bank president in the United States, founded St. Luke Penny Savings Bank in Richmond, Va., in 1903.
“Our customer base continues to grow rapidly, and we have expanded access and now have over 100,000 locations to better meet their needs. Importantly, we’re on our way to fulfilling Black America’s long-held dream of organizing our spending power to create social and economic equality in our society,” says Teri Williams, President & COO of OneUnited Bank.