Market Overview

OneUnited Bank, Largest Black Owned Bank, Swells To Over 100,000 Customers

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LOS ANGELES, Oct. 14, 2020 /PRNewswire/ -- OneUnited Bank, the largest Black owned bank in the country, is proud to announce that it has achieved 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.

To accommodate the Bank's rapid customer growth, OneUnited is proud to announce the expansion of its banking services to over 100,000 locations. The Bank introduces its new Cash to Your Card service, which gives its customers access to an additional 90,000+ locations, expanding the Bank's ability to service customers nationwide. OneUnited Bank customers can now utilize Green Dot to deposit cash on the go (reloading) including Reload @ the Register™, Walmart® Rapid Reload and MoneyPak®! Retail service fees and limits apply.1 OneUnited Bank does not charge a reload fee. The Bank's branches, 90,000 Cash to Your Card service locations, and 30,000 surcharge free ATMs brings the Bank's total locations to over 100,000.

"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.

Media Inquiries: Suzan McDowell, Circle of One Marketing, suzan@circleofonemarketing.com, or by phone at 305-576-3790.

ONEUNITED BANK:
OneUnited Bank is the premier bank for urban communities, the largest Black-owned bank, the first Black internet bank and a Community Development Financial Institution (CDFI). Its mission is to provide affordable financial services to support economic development in urban communities and maintain superior financial performance to maximize shareholder value. OneUnited is an FDIC insured bank and an equal housing lender.

©2020 Green Dot Corporation. Green Dot, Reload@ the Register, and MoneyPak are registered trademarks of Green Dot Corporation.


1Active card required. The retail service fee for Reload @ The Register is $4.95. The retail service fee for Walmart Rapid Reload is $3.74. The retail service fee for MoneyPak is $5.95. Deposit and balance limits apply. OneUnited Bank does not charge a reload fee.

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SOURCE OneUnited Bank

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