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one united bank business credit card

First National Bank of Omaha offers personal, business, commercial, and wealth solutions with branch, mobile and online banking for checking, loans. Consolidate various types of corporate expenses or supplier payments to the corporate card and have one payment date for all these. Visa secured consumer credit card loans originated in 2014, 2015, OneUnited Bank offers various personal and business products.

: One united bank business credit card

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OneUnited Bank

African-American-owned bank based in Boston, Massachusetts

OneUnited Bank is an African-American-owned and managed Massachusetts-chartered trust company headquartered in Boston, Massachusetts. It is also registered by the Federal Deposit Insurance Corporation (FDIC), and certified as a community development financial institution (CDFI) by the United States Department of Treasury. As of April 30, 2018, OneUnited Bank maintained $661.2 million in total assets.[1]

History[edit]

Beginnings[edit]

The bank was founded in 1968 as Unity Bank & Trust Company with $1.2 million in capital in the then-Dudley Square (now Nubian Square) neighborhood of Boston, aiming to revitalize the area by lending exclusively to local businesses and homeowners. Unity Bank failed after nine years of operations, and a newly organized bank, Bank of Boston Commerce, was formed.

Boston Bank of Commerce expanded the model of community development to include partnerships with large corporations[which?] and government agencies.[which?] Its chairmen included United States SenatorEdward Brooke. With total assets of $257,183,000 and total deposits of $125,216,000 as of 31 December 2000, Boston Bank of Commerce filed for application to merge with Founders National Bank of Los Angeles, California, its four offices in operation and total resources of $107,009,000 and total deposits of $98,659,000 as of December 31, 2000. "Favorable" statutory factors, other relevant information and Comptroller of Currency reports led to the approval of the merger transaction application from Boston Bank of Commerce, by the Board of Governors of the Federal Reserve System, the Director of the Office of Thrift Supervision, and the Attorney General of the United States.[2]

1990s[edit]

In the mid-1990s, following the economic downturn that adversely affected other northeast-based regional banks, Boston Bank of Commerce was placed under a cease-and-desist order by the FDIC and charged to increase capital and improve the quality of its loan portfolio. In 1995 a significant capital infusion was made under the current Chairman and CEO Kevin Cohee and President and COO Teri Williams,[3] along with a new strategy of acquiring African American-owned banks flagstar webmail login thrift institutions in major metropolitan markets.[which?] When the bank’s current senior management team assumed control of Boston Bank of Commerce, the institution temporarily had negative equity and significant asset problems. Its management subsequently acquired three African-American owned banks over several years that were troubled or on the verge of failure. Boston Bank of Commerce became the first interstate African American-owned bank in the country through its acquisition of Peoples National Bank of Commerce, South Florida’s only African-American-owned bank.

2000s[edit]

In 2001 the institution merged with Founders National Bank of Los Angeles, of which the majority owners were former professional basketball player and businessman Earvin "Magic" Johnson, musician Janet Jackson, and former Motown Records President Jheryl Busby.

Boston Bank of Commerce rebranded as OneUnited Bank.[4]

OneUnited Bank offers an annual financial literacy essay contest for youth, and President Teri Williams wrote a children’s book, I Got Bank! What My Granddad Taught Me About Money, to teach financial literacy to urban youth.[5]

In the latter part of 2008 and the beginning of 2009, OneUnited experienced financial problems as their equity investment in Freddie Mac and Fannie Mae became worthless. In order to stabilize the institution, the Bank applied for and received $12 million from the Troubled Asset Relief Program (TARP).[6] Since 2009, the bank has demonstrated sustained profitability.[7]

2010s[edit]

OneUnited Bank's branch staff use customer relationship management (CRM) software from Salesforce.com on iPads, in its Boston, Los Angeles and Miami branches.[8]

In 2013, regulators from the Massachusetts Division of Banks and the FDIC said there has been “minimal lending activity” in Boston. They also cited a lack of lending in the Miami market that amounted to "substantial noncompliance". OneUnited had made or purchased 34 loans in Massachusetts in three years, according to the report. Of those, 26 took place in Suffolk County, where the bank operates three offices. The bank expanded lending and refinancing, mostly for multi-family properties in Los Angeles, issuing 78 loans. But it made just eight loans in Boston and three in Miami. Nationally, only nine of the bank’s loans last year were made to low- or moderate-income borrowers.[9]

In January 2014, OneUnited introduced one united bank business credit card UNITY Visasecured credit card called the "Comeback Card", for customers with low credit scores.[10] The card includes training for customers to improve their credit score. OneUnited Bank received recognition as a Notable IT Initiative from Community Banks by American Banker for the UNITY Visa Card's "Me" app, which allows consumers to apply for the card and, if they are approved, it allows them to open a deposit account to fund it.[11]

Beginning November 1, 2014, OneUnited removed online and over-the-phone credit card balance pay services. Bank branches that currently provide these services over-the-counter are now only located in the metropolitan areas of Boston, Miami, and Los Angeles. Sending a check by mail is the current de facto payment method for Unity Credit Card holders who live at long distances from bank branches.[12]

2020s[edit]

OneUnited came to media attention in 2020 after offering a Visa card featuring an image of abolitionist, slave rescuer and political activist Harriet Tubman apparently performing a "Wakanda Forever" salute (from the film Black Panther). The image was created by Miami, Florida artist Addonis Parker; he claimed that the gesture was intended to be the American Sign Language sign for "love."[13][14][15]

Awards[edit]

In 2004, 2005, 2006, 2007 and 2008, OneUnited Bank won the Treasury Department's highest award – The Bank Enterprise Award.[12]

See also[edit]

References[edit]

  1. ^"OneUnited Bank Financial Reports". 2018-04-30. Retrieved 2018-07-12.
  2. ^Lane, John M. "Associate Director". FDIC: Decisions on Bank Applications. FDIC. pp. Home - Regulation & Examinations - Laws & Regulations - Decisions on Bank Applications. Retrieved 9 January 2016.
  3. ^"Management - OneUnited Bank". oneunited.com. Retrieved 24 April 2017.
  4. ^"FDIC OneUnited Bank BankFind Results". FDIC. FDIC. pp. Deposit Insurance - BankFind - OneUnited Bank - Details - History. Retrieved 9 January 2016.
  5. ^"Book Review: "I Got Bank: What My Granddad Taught Me About Money"". The New Citizens Press. Retrieved 24 April 2017.
  6. ^Kerber, Ross; Healy, Beth (14 March 2009). "Bank's actions called improper". Retrieved 24 April 2017 – via The Boston Globe.
  7. ^"Federal examiners protested help for politically connected bank, e-mails show". www.washingtonpost.com. Retrieved 21 November 2018.
  8. ^"OneUnited Deploys New CRM Tool to Drive Sales, Improve Service". americanbanker.com. Retrieved 24 April 2017.
  9. ^"OneUnited Bank gets 'Needs to Improve' on community lending". Boston Globe. Retrieved 24 April 2017.
  10. ^Bank, OneUnited. "OneUnited Bank To Launch UNITY Visa, The Comeback Card On January 15, 2014". prnewswire.com. Retrieved 24 April 2017.
  11. ^Issa, Erin El (2014-07-25). "OneUnited Bank's UNITY Secured Credit Card: The Comeback Card". NerdWallet. Retrieved 2020-02-06.
  12. ^ ab"Everything You Need to Know About The New #BankBlack Movement". Essence. Retrieved 2020-02-06.
  13. ^"OneUnited Bank's New Harriet Tubman Card Causes Controversy". www.adweek.com.
  14. ^"OneUnited Bank Doubles Down on Harriet Tubman Debit Card". TMZ.
  15. ^"Is that Harriet Tubman on a bank debit card, throwing a Wakanda salute?". NBC News.

External links[edit]

Источник: https://en.wikipedia.org/wiki/OneUnited_Bank

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  • Secured or unsecured
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Small Business Administration (SBA) Lending Solutions

We understand the challenges - and rewards - that come with owning your own business. Whether your goals include starting a new business, expanding your business or simply accessing additional working capital for a major purchase, United Bank offers a variety of lending solutions to help you meet your goals - and our commitment to business lending has never been stronger. 
When your business needs financing, consider an SBA loan.* SBA loans offer distinct advantages designed to assist small businesses in accessing the capital they need to grow. As an SBA lender, United Bank's SBA Specialists can help you find the SBA financing option that is right for your business. 

Why United Bank?

Since 1904, United Bank has been serving the communities of Southwest Alabama and Northwest Florida. At United Bank we offer: 

  • Personal service
  • Local decision making
  • Bankers who know you and your community
  • All in one banking (checking, savings, loans, etc.)
Why SBA?

Benefits of SBA loans versus conventional financing options include: 

  • Up to 25 year terms, with no balloon payments
  • Fixed or variable interest rates up to 25 years
  • As little at 10% down payment on commercial real estate
  • No loan covenants
  • Less stringent collateral requirements
  • A United Bank SBA specialist can help you complete your SBA loan application

Several SBA loan options are available to meet different business needs:SBA 7(A) LOANS

  • Loan limit up to $5,000,000
  • Eligible activities for 7(a) financing include starting or acquiring a business, expanding a business or refinancing existing debt
  • Loan proceeds may be one united bank business credit card for working capital, equipment, commercial real estate or exporting

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  • Provides a revolving line of credit up to $5,000,000
  • Borrowers must use the loan proceeds for short term working capital/operating needs

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  • Loan limit up to $350,000
  • Similar to 7(a) loan, but simpler application process and faster approval

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  • Loan limits between $125,000 to over $10,000,000+
  • Designed to help small businesses acquire fixed assets, such as commercial real estate or equipment
  • Provides affordable, long-term financing through certified development companies (CDC's) in cooperation with United Bank
  • Borrower pays as little at 10% down on the purchase of real estate and equipment
  • Includes job creation requirement*
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Источник: https://www.unitedbank.com/business-loans-lines-credit.htm

OneUnited UNITY® Visa Secured Credit Card Review

The UNITY® Visa Secured Credit Card from OneUnited Bank is a secured credit card with no annual fee and reasonable interest rates. With automatic payment pattern and credit utilization reporting to the 3 major consumer credit bureaus, it offers a clear path to rebuilding credit for cardholders who use it responsibly.

The UNITY Visa Secured Credit Card is issued by OneUnited Bank, an FDIC-insured institution that’s officially the country’s largest African American-owned bank and the first African American-owned online bank. OneUnited Bank prides itself on offering fair rates and terms, and takes seriously its mission to empower Americans from all walks of life.

If you’re in the market for a secured credit card that can empower you to improve your credit and purchasing power, check out UNITY Visa Secured Credit Card.

Key Features

Initial Deposit Requirement and Refund

The UNITY Visa Secured Credit Card requires an initial security deposit of at least $250 into a collateral account. Your initial deposit amount is dictated by OneUnited Bank and is dependent on your creditworthiness. Your collateral balance secures OneUnited Bank’s interest in your credit account – if you become delinquent, the bank reserves the right to seize the balance to cover your outstanding debts.

Your credit limit for spending is always equal to the balance in your collateral account. Your cash advance allowance is capped at 50% of your collateral balance. For example, on a collateral balance of $1,000, you can draw $500 as a cash advance. Your collateral account balance does not earn interest.

Once you pay off your outstanding card balance in full and close out your account, you receive a full refund of your security deposit.

Credit Limits and Limit Increases

This card’s minimum credit limit is $250. The maximum is $10,000.

You can apply for a higher credit limit whenever you choose, though you’re not guaranteed to get your wish and OneUnited Bank reserves the right to adjust your limit as it sees fit (upward or downward) at any time. If your credit limit is increased, you need to make a corresponding deposit into your collateral account.

Credit Bureau Reporting

Every billing cycle, OneUnited Bank reports your credit utilization and payment patterns (or lack thereof) to the major credit reporting bureaus: Experian, TransUnion, and Equifax. With responsible use and timely bill payment over time, this is likely to improve your credit score and help you qualify for more generous credit products.

Introductory APR

This card has a 6-month balance transfer APR promotion. For 6 months from the day you open your account, your balance transfer APR is set at 9.95%. This promotion does not apply to your purchase or cash advance APRs.

Regular APR

Once the 6-month balance transfer promotion ends, the balance transfer APR rises to 17.99%. The purchase and cash advance APRs remain at this level from the day you open your account. There is no penalty APR.

Unlike most credit card issuers, OneUnited Bank does not allow these APRs to fluctuate with prevailing interest rates prior to the card’s expiration date. No matter what interest rates do, your APR will remain at 17.99% through your card’s expiration date.

Important Fees

There is a $39 annual fee. The foreign transaction fee is 2% of the transaction amount (in U.S. dollars). Balance transfers and cash advances both cost 3% or $10, whichever is greater, with a maximum charge of $150 per transfer or advance. Late payments cost $10, while returned payments cost $25.

Credit Required

This card is designed for people with poor credit. In fact, OneUnited Bank does not hold applicants to a minimum credit score. Although you may still be disqualified for a personal bankruptcy in the recent past, many serious credit issues are not necessarily cause for denial.

Advantages

  1. Introductory Balance Transfer Promotion. The UNITY Visa Secured Credit Card’s 6-month, 9.95% APR introductory balance transfer promotion provides a solid break on interest charges for cardholders who need to transfer existing card balances from other, higher-interest accounts. Few other secured cards offer introductory promotions of any kind.
  2. No Minimum Credit Score. This card is explicitly designed for people with bad credit. OneUnited Bank does not have a minimum credit score threshold below which applicants are automatically disqualified. That’s great news if you’re in the process of recovering from a bankruptcy or other serious adverse credit event.
  3. Relatively Low APR for a Secured Card. Though this card’s purchase, balance transfer, and cash advance APRs are not low relative to top-of-the-line cash back credit cards and travel rewards cards, they’re low compared with other popular secured credit cards. Most competitors charge upwards of 20%, and some are north of 25% – especially for cash advances, which tend to be more expensive than purchases and balance transfers. For instance, Capital One Secured Mastercard and Discover it Secured Credit Card both have purchase APRs near or north of 25%.
  4. APR Fixed Until Card Expiration Date. The UNITY Visa Secured Credit Card’s APR is fixed from sign-up until expiration. For cardholders who carry balances from month to month, this has the potential to substantially reduce interest charges over time in a rising interest rate environment. Most other cards reserve the right service credit union branches near me adjust their APRs (usually upward) as prevailing interest rates change.
  5. No Penalty APR. OneUnited Bank doesn’t charge penalty interest on past-due balances. That’s a welcome relief for cardholders who occasionally miss payments due to liquidity issues, and a key differentiator between this card and many other secured products.
  6. Relatively High Credit Limit. This card’s upper credit limit is $10,000. That’s relatively high for a secured credit card, especially one designed explicitly for people with bad credit. (Some secured cards have stricter underwriting standards.) If your income is higher than your challenged credit might suggest, this card is worth a closer look.

Disadvantages

  1. Charges an Annual Fee. The UNITY Visa Secured Credit Card has a $39 annual fee. While not huge in absolute terms, it’s on the high end for the secured credit card category. Some competitors, including Navy Federal Credit Union nRewards Secured Credit Card and Discover it Secured Credit Card, do not charge annual fees.
  2. No Automatic Upgrade Consideration. Since this card has no non-secured “parent” card, OneUnited Bank can’t automatically consider cardholders in good standing for upgrades. Secured cards issued by larger financial institutions, such as Bank of America and Capital One, generally do offer this privilege. If you want to upgrade your UNITY Visa to a non-secured card, you need to wait until your credit improves, apply for a non-secured card with another institution, and then close your UNITY Visa account.
  3. No Interest on Security Deposit. OneUnited Bank doesn’t pay interest on security deposits held in cardholders’ collateral accounts. If you’re looking for a secured card issuer that pays you to hold your money, you need to look elsewhere.
  4. Credit Limit Is Always Equal to Security Deposit. Your credit limit is always equal to the security deposit held in your collateral account, no matter how long your account remains open. If cash is tight and you’re looking to finance a large purchase, consider a non-secured alternative for credit rebuilding, such as Capital One Platinum Credit Card.
  5. No Rewards or Sign-up Bonus. This card doesn’t offer any cash back rewards or a sign-up bonus. That’s a disadvantage relative to competitors such as the Discover it Secured Credit Card and Navy Federal Credit Union nRewards Secured Credit Card, both of which offer modest but meaningful cash back allowances.
  6. Moderately High Initial Deposit Requirement. Before you can use your UNITY Visa Secured Credit Card, you need to deposit at least $250 into your collateral account. If cash is scarce, this could be a high bar to clear. By contrast, Capital One Secured Mastercard lets you open your account with as little as $49 down.

Final Word

Secured credit cards get short shrift in favor of more glamorous products: generous travel rewards cards with juicy benefits such as complimentary airport lounge access and travel credits, cash back credit cards with eye-popping sign-up bonuses, and even no-frills cards with super-long 0% APR introductory promotions and low ongoing APRs.

Since these cards cater to buyers with good to excellent credit and (often) ample buying power, this dynamic is totally understandable. But not everyone can qualify for super-generous credit cards, especially after adverse events that leave them in credit-rebuilding mode. While it’s not the absolute best one united bank business credit card card out there, the UNITY® Visa Secured Credit Card is a little-known but fully worthy addition to the category. One united bank business credit card you’re seeking a fair, honest card that – in the words of OneUnited Bank – gives you “a second chance at credit,” it’s worth a closer look.

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Black-Owned Banks by State

Ever since the founding of the Bank of North America in 1781, banking has played a critical role in facilitating the American Dream. These institutions provide indispensable monetary services, ranging from accepting deposits to offering loans. Credit is king in the United States, and without high-quality financial institutions, countless Americans would struggle to acquire vehicles, housing, and other essential items.

However, like pretty much all of the nation’s older institutions, banks have also played a significant part in America’s racist past. Racial discrimination in the banking industry and financial system has targeted African Americans, and challenges ending discrimination persist today. Black-owned banks arose as an alternative to larger institutions to provide greater access to banking services as well as an opportunity to support local communities.

According to the Federal Deposit Insurance Corporation, a Minority Depository Institution (MDI) is “.a federal insured depository institution for which (1) 51 percent or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership.” Of the 22 Black-owned banks featured in this article, two fall into the latter category.

For the purposes of this article, Black-owned and managed credit unions that serve the Black community have been included to provide the most complete picture of America’s Black financial institutions. The article uses the term “Black-owned” in this broad sense, recognizing that stockholders own for-profit banks and members own credit unions.

Key Takeaways

  • Today—including credit unions—there are 44 Black-owned financial institutions in the United States. Taken together, they have approximately $6.82 billion in assets in total.
  • Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and well-being of their community.
  • Black-owned banks also play a critical role in fighting modern-day systemic racism in the financial sector.
  • Critics of Black-owned for-profit banks have posited that true financial justice requires institutions, such as not-for-profit credit unions, that are separate from a financial system rooted in racism and exploitation.
  • Of the 44 Black-owned financial institutions in the country, 22 are not-for-profit credit unions.

Background and History of Black-Owned Banks

Black-owned banks didn’t exist until more than a century after the Bank of North America first opened its doors. Prior to the chartering of the first Black-owned bank in 1888, Congress and President Lincoln established the Freedman’s Savings Bank in 1865. As part of the Freedman’s Bureau, this institution was designed to help newly freed African Americans navigate the U.S. financial system.

Despite Congress voting to close the Freedman’s Bureau in 1872, the bank continued to operate. In 1874, Frederick Douglass took over as the bank’s D.C. branch director, and he found the place to be rife with corruption and risky investments. Despite Douglass investing $10,000 of his own money in the bank in an attempt to save it, Freedman’s Savings went bankrupt later that same year. Although the Freedman’s Savings Bank doesn’t fit the modern criteria of a Black-owned bank, it represents a critical first step.

The first officially chartered Black-owned bank, the True Reformers Bank, was founded on March 2, 1888, by the Rev. William Washington Browne. A former slave and Union Army officer, Browne was founder of the Grand Fountain United Order of True Reformers fraternal organization. The True Reformers Bank came about when Browne and his organization faced financial hardships while trying to establish a new branch in Virginia. Unable to manage the order’s money without arousing suspicion from paranoid and prejudiced locals, Browne founded the True Reformers Bank so that the organization’s finances would be free of scrutiny from white people.

The bank opened its doors in 1889 and went from a small operation in Browne’s house to an institution strong enough to survive the financial panic of 1893. Although the True Reformers Bank continued to operate after Browne’s death in 1897, problems were beginning to develop where can i donate cat food 1900. Under its new president, the Rev. William Lee Taylor, branches were poorly regulated, unsecured loans were made, and an embezzlement scandal cost most account holders their savings. By 1910, the State Corporation Commission had ordered the bank to be closed.

As the story of the True Reformers Bank was playing out, other Black-owned banks were also getting their start in the U.S. The Capitol Savings Bank of One united bank business credit card, D.C., one united bank business credit card its doors the skeleton key in hindi download Oct. 17, 1888, roughly six months before the True Reformers Bank. Capitol Savings also managed to survive the financial panic of 1893, though it later closed in 1902.

Between 1888 and 1934, more than 134 Black-owned financial institutions were founded, predominantly located in Southern states. Their numbers dwindled during the Great Depression, leaving nine by 1930. It wasn’t until the civil rights movement bank of eastman magnolia state bank a resurgence took place, raising their numbers to 50 by 1976.

By 1988, the savings and loan crisis had wiped out 35 Black-owned banks. The start of the most recent decline came in 2001, during the early 2000s recession, which rapidly accelerated once the Great Recession began. There are 44 Black-owned financial institutions, including credit unions, left today.

“You can’t separate Black history from American history,” says Tyrone Ross, community director of Altruist, a software platform provider for financial advisors. “We’ve always been well adept and versed in financial education and the ability to be entrepreneurs. It’s just been stripped from us. So it’s OK to write these articles—or have panels or whatever—but let’s start with the history first so people go, ‘Oh, crap. It really was stripped from them, and they’re just trying to get it back.’”

Modern-Day Discrimination

In 2016, the net worth of a white family was nearly 10 times higher on average than that of a Black family. This is a result of inequality, discrimination, racism, and differences in power and opportunity compounding throughout America’s history. It also is why the diminishing number of Black-owned banks is especially of concern, given the role these institutions play in fighting modern-day systemic racism in the financial sector.

Consider redlining. This unethical and now illegal practice is used to block off access to important services for residents of certain neighborhoods based on their race or ethnicity. The Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, religion, sex, and national origin, was a start. And yet, although the Fair Housing Act of 1968 and the Community Reinvestment Act (CRA) of 1977 were both intended to eliminate redlining, this kind of discrimination is still seen today.

For instance, 68.1% of loans made between 2012 and 2018 for housing purchases in Chicago went to predominantly white areas; 8.1% went to predominantly Black areas. Banks also lent more money to predominantly white neighborhoods than they did to every predominantly Black neighborhood combined. This disparity is even starker when looking at individual lenders, with JPMorgan Chase lending 41 times more money in white neighborhoods than Black ones.

Chicago is far from the only place where redlining occurs. In 2018, people of color in 61 cities were more likely to be denied home loans than white residents. And if homeowners aren’t moving into—and investing in—a neighborhood, it means capital isn’t flowing into the community, which leads to poverty and crime having an inescapable presence in the area.

“One in five Black Americans now is unbanked. When you look at our poverty rates, our lack of ownership, lack of home ownership, that all goes back to economic empowerment,” Ross explains. “Economic empowerment starts with banking.”

The Importance of Black-Owned Banks

To understand why Black-owned banks matter, it’s critical to recognize the role banks play in financial life. A common service banks provide is access to a checking account, allowing for the safe storage of an individual’s funds, typically in exchange for a minimal fee. In addition to accepting monetary deposits, banks also furnish loans for both individuals and businesses looking to finance crucial purchases. Banks also offer mortgages for real estate purchases. Many banks issue credit cards, which are valuable tools for building the credit history necessary to receive most loans.

Outside of providing financial services, a number of banks have also launched programs on financial literacy for low- and moderate-income communities. It’s difficult, if not impossible, to imagine thriving in the modern economy without taking advantage of the aid that a bank can provide. And if access to these types of services is constantly denied to certain groups, it’s easy to see how these groups may face more financial difficulties than others.

Black-owned banks offer an alternative for residents who have been consistently discriminated against by other financial institutions. They have typically provided more money to borrowers living in low- and moderate-income (LMI) census tracts in the last 14 years than other banks. Black-owned banks are also more willing to tolerate higher levels of risk than alternative institutions. Our research found that in 2016, 67% of mortgages made by Black-owned banks were either FHA mortgages—which typically serve riskier borrowers—or mortgages held “in portfolio,” meaning they are liable to the risk of the borrower defaulting.

Additionally, Black-owned banks tend to focus their lending on small businesses, nonprofits, and Black homebuyers. As of 2018, all Black-owned banks are community banks; these institutions are dedicated to supporting the economies of the communities in which they serve. Even during difficult times, Black-owned banks have stuck by their customers. During the 2007–2008 financial crisis, despite a 69% drop in all mortgage lending to Black borrowers, the number of mortgages that Black-owned banks provided rose 57%.

“So there’s lack of lending, there’s lack of funding, there’s lack of access to the ability to acquire assets and build wealth,” says Ross. “The Black community has for years been afraid of banking with traditional institutions. A lot of them live in banking deserts where there are no banks, which is also why you have credit unions, check cashing places, and payday loans.”

Without Black-owned banks, countless vulnerable consumers could be forced to rely on high-interest loans from pawn shops and payday lenders for their financing. What’s more, Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and wellbeing of their community and fellow Americans.

“I think we have a responsibility now to realize that—if you really want to be grassroots, and you really want to help Black Americans—get that money in Black banks and then have one main financial locations in georgia Black banks fund the people,” Ross says.

Other Alternatives for Community Funding

Not everyone sees Black-owned, for-profit banks as the solution. Critics argue that true financial justice requires institutions that are entirely separate from a financial system rooted in racism and exploitation.

“I’ve been very critical of for-profit Black banks and the capitalist logic that governs them,” says Prof. Guy Mount, assistant professor of African American history at Auburn University. “In my opinion, member-owned credit unions and nonprofit co-ops are the way forward for Black communities hoping to not only survive within capitalism, but build a viable Black economic alternative to it.” In fact, that choice is currently available to consumers. Of the 44 Black-owned financial institutions in the U.S.—all listed below—21 are credit unions.

Other critics have taken this concept even further. In The Color of Money: Black Banks and the Racial Wealth Gap, Mehrsa Baradaran, professor of law at the University of California Irvine School of Law, posits that those in power have pushed the idea of Black-owned banks as a diversionary tactic whenever the African American community demanded more direct solutions to the racial wealth gap. For instance, although the Freedman’s Bank remains a critical facet of Black history, the Freedman’s Bureau originally proposed providing newly freed slaves with an allotment of land—they received a bank instead.

More recently, when civil rights leaders began calling for a redistribution of wealth, President Richard Nixon co-opted the rhetoric of that same movement to create a civil rights platform centered around “Black capitalism.” He wasn’t the only president to support the idea of banking over financial support. President Bill Clinton introduced legislation with the aim of promoting “community empowerment” via banking. Across party lines, Presidents George W. Bush and Barack Obama supported and upheld Clinton’s infrastructure. Former President Donald Trump had also made similar promises during his time in office.

Baradaran further argues that—as it is nearly impossible for a segregated community to keep its wealth entirely self-contained—Black-owned banks may actually facilitate the flow of money out of African American communities and into the white economy.

Prof. Mount sees it the same way, “By emerging themselves within a white-governed capitalist marketplace, Black banks are facilitating the very extraction of wealth from the communities they purport to serve,” he says.

Black-Owned Banks: State-by-State Breakdown

While the number of Black-owned financial institutions may have declined from their peak, they cumulatively have a not-insignificant presence. According to Bank Black USA, historical Black-owned bank assets have totaled over $7.6 billion. As of Feb. 4, 2021, the 41 Black-owned banks and credit unions in the U.S. have approximately $6.82 billion in assets. And although 28 states have no Black-owned financial institutions within their borders, several organizations have a presence across the U.S. because of their partnerships with major ATM networks. Additionally, of the 41 Health savings administrators richmond financial institutions in the country, half are not-for-profit credit unions.

The majority of Black-owned institutions offer both traditional brick-and-mortar branches and online/mobile services. Even OneUnited Bank, originally an Internet-only bank, now has multiple physical locations across the U.S. Ensuring online accessibility is a smart move considering that, in 2017, approximately 17.7% of African-American consumers were more likely to use mobile banking as their primary method of accessing their accounts. Currently, Columbia Savings and Loan is the sole institution without any online or mobile banking services.

Below: a list of Black-owned banks and credit unions in the U.S., in alphabetical order.

1st Choice Credit Union

Founded in 1946, the Hospital Authority Credit Union was created to provide financial services to employees of Grady Hospital. In 1991, the organization became known as 1st Choice Credit Union.

  • Branches: Auburn Avenue Administrative Office (Atlanta, Ga.) and Grady Memorial Hospital (Atlanta, Ga.)
  • ATMs: Crestview Health & Service credit union branches near me Center (Atlanta, Ga.) and Ponce De Leon Center (Atlanta, Ga.)
  • States: Georgia
  • Services: Personal and business checking and savings, in addition to loans (personal, mortgage, etc.)
  • Assets: $30.77 million
  • Availability: Brick-and-mortar and online

Alamerica Bank

Alamerica Bank was originally organized by a group of prominent Birmingham, Ala., community leaders on Jan. 28, 2000. Alamerica achieved operational profitability after six months of operation.

  • Branches: The Alamerica Bank Building (Birmingham, Ala.)
  • ATMs: N/A
  • States: Alabama
  • Services: Deposit services (business and personal accounts), loan services (commercial and personal loans), Internet banking, image statements, and MasterMoney debit cards
  • Assets: $15.36 million
  • Availability: Brick-and-mortar and online

Broadway Federal Bank

The Broadway Federal Bank is a subsidiary of Broadway Financial Corporation, a bank holding company located in Los Angeles, Calif. Formerly known as the Broadway Federal Savings and Loan Association, founded in 1946, the original building was destroyed by a fire on April 30, 1992. In December 1995, the organization was converted from a federally chartered mutual savings association to a federally chartered stock savings bank, hence the new name.

  • Branches: Mid-Wilshire Branch (Los Angeles, Calif.), Inglewood Members 1st mobile login (Inglewood, Calif.), and Exposition Park Branch (Los Angeles, Calif.)
  • ATMs: Part of the MoneyPass network
  • States: California
  • Services: Personal and business accounts, credit cards, and loan products
  • Assets: $497.03 million
  • Availability: Brick-and-mortar and online

Brookland Federal Credit Union

Founded in 1999, the Brookland Federal Credit Union is a not-for-profit financial cooperative that provides financial services to members of Brookland Baptist Church and their immediate family members. If you join Brookland Federal, you and your family have a lifetime membership.

  • Branches: Brookland Federal Credit Union (West Columbia, S.C.)
  • ATMs: N/A
  • States: South Carolina
  • Services: Savings, checking, loans, and other services (financial literacy, guaranteed auto protection, etc.)
  • Assets: $3.40 million
  • Availability: Brick-and-mortar and online

Carver Federal Savings Bank

The Carver Federal Savings Bank was founded in 1948 to serve African American communities with limited access to mainstream financial services. The majority of its branches and ATMs are located in low- to moderate-income neighborhoods. Carver Federal Savings Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

  • Branches: Atlantic Terminal Branch (Brooklyn, N.Y.), Bedford-Stuyvesant — Restoration Plaza Branch (Brooklyn, N.Y.), Crown Heights Branch (Brooklyn, N.Y.), Flatbush Branch (Brooklyn, N.Y.), and St Albans Branch (Jamaica, N.Y.), 125th Street Branch (New York City, N.Y.), and Malcolm X Boulevard Branch (New York City, N.Y.)
  • ATMs: Malcolm X Boulevard Branch (Brooklyn, N.Y.) and 125th Street Branch (New York City, N.Y.)
  • States: New York
  • Services: Personal and business banking, loans, and community cash
  • Assets: $673.05 million
  • Availability: Brick-and-mortar and online

Carver State Bank

Established on Feb. 23, 1927, the Georgia Savings and Realty Corporation was a small, private bank as well as a real estate investment and management company. In 1947, the original institution was converted to a state bank and became known as the Carver Savings Bank. By 1962, Carver had become a full-service commercial bank, thus its name was changed once more to the Carver State Bank.

  • Branches: Main Office (Savannah, Ga.) and Skidaway Branch (Savannah, Ga.)
  • ATMs: Main Office (Savannah, Ga.), Skidaway Branch (Savannah, Ga.), and Hilton Head International Airport (Savannah, Ga.)
  • States: Georgia
  • Services: Personal accounts (checking and savings), business accounts, loans, development programs, and other services (cashier’s checks, money orders, etc.)
  • Assets: $48.39 million
  • Availability: Brick-and-mortar and online

Citizens Bank

In 1904, the One Cent Savings Bank became the first minority-owned bank in Tennessee. The institution’s name was changed to the Citizens Savings Bank & Trust Co. in 1920. Citizens Bank is the oldest, continuously operating Black-owned bank in the U.S.

  • Branches: Memphis Winchester Road Branch (Memphis, Tenn.) and Main Office (Nashville, Tenn.)
  • ATMs: Main Office (Nashville, Tenn.)
  • States: Tennessee
  • Services: Personal and business banking (checking and savings), credit cards, and loans (personal, business, etc.)
  • Assets: $100 million
  • Availability: Brick-and-mortar and online

Citizens Trust Bank

In 1921, the Citizens Trust Bank was created to serve the African American citizens of Atlanta. Today, the bank plays an active role in providing sponsorship support for multiple community organizations.

  • Branches: Birmingham (Birmingham, Ala.), Eutaw Branch (Eutaw, Ala.), Cascade Branch (Atlanta, Ga.), Corporate Headquarters (Atlanta, Ga.), Westside Branch (Atlanta, Ga.), East Point Branch (East Point, Ga.), and Rockbridge Branch (Stone Mountain, Ga.)
  • ATMs: Castleberry Inn ATM (Atlanta, Ga.), Westside ATM (Atlanta, Ga.), South Dekalb Mall ATM (Decatur, Ga.), Lithonia ATM (Lithonia, Ga.), Rockbridge Plaza ATM (Stone Mountain, Ga.), Stone Mountain ATM (Stone Mountain, Ga.), and Panola ATM (Stonecrest, Ga.)
  • States: Alabama and Georgia
  • Services: Banking (savings, checking, etc.) and borrowing (loans, credit cards, etc.) services 
  • Assets: $536.65 million
  • Availability: Online and brick-and-mortar

Columbia Savings & Loan

Columbia Savings & Loan has served Milwaukee’s inner city, particularly its minority population, since 1924.

  • Branches: Columbia Savings & Loan Association (Milwaukee, Wis.)
  • ATMs: N/A
  • States: Wisconsin
  • Services: Mortgages, church loans, and CDs/IRAs
  • Assets: $24.41 million
  • Availability: Brick-and-mortar only

Commonwealth National Bank

Founded in 1976, the Commonwealth National Bank is a full-service nationally chartered commercial institution. Commonwealth is the sole bank headquartered in Mobile, out of the 45 banks doing business there. In addition to being the only Minority Depository Institution (MDI) in Mobile, it is one of two in Alabama.

  • Branches: Main Office Branch (Mobile, Ala.) and Crichton Branch (Mobile, Ala.)
  • ATMs: Main Office Branch (Mobile, Ala.), Crichton Branch (Mobile, Ala.), any Publix Super Market ATM, and any PNC Bank ATM
  • States: Alabama
  • Services: Consumer and business services, in addition to loans
  • Assets: $55.06 million
  • Availability: Brick-and-mortar and online

Community Owned Federal Credit Union

In 1966, the Community Owned Federal Credit Union was founded to provide low-income communities in Johns Island and part of Charleston with financial services typically denied to them by mainstream institutions. Membership has since grown to include the entire Charleston area.

  • Branches: Community Owned Federal Credit Union (Charleston, S.C.)
  • ATMs: N/A
  • States: South Carolina
  • Services: Primary savings account, loans, and other services (direct and payroll deposit, in addition to credit workshops)
  • Assets: $6.54 million
  • Availability: Brick-and-mortar and online

Credit Union of Atlanta

Founded in 1928, the Credit Union of Atlanta remained stable and secure throughout the Great Depression. Any profits earned are used to secure better rates for the institution’s members.

  • Branches: Main Office (Atlanta, Ga.) and Pryor Street Lending Center (Atlanta, Ga.)
  • ATMs: Atlanta Detention Center (Atlanta, Ga.), Atlanta Public Safety Annex (Atlanta, Ga.), Credit Union of Atlanta (Atlanta, Ga.), and Pryor Street Lending Center (Atlanta, Ga.), in addition to any ATMs in the MoneyPass and STAR networks
  • States: Georgia
  • Services: Personal savings and checking, business checking, credit builder and personal loans, and payment protection
  • Assets: $77.91 million
  • Availability: Brick-and-mortar and online

Faith Community United Credit Union

Originally chartered in 1952 as Second Mount Sinai Baptist Church Credit Union, Faith Community United Credit Union became a Community Development Credit Union (CDCU) in 1991. Faith is one of the largest minority-owned Credit Unions in Ohio, and it is available to anyone who lives, works, worships, or attend school in Cuyahoga County as well as their family, business, and organization. Membership is also possible through a Select Employee Group (SEG).

  • Branches: Faith Community United Credit Union (Cleveland, Ohio)
  • ATMs: N/A
  • States: Ohio
  • Services: Deposit services, loan services, insurance, and other services
  • Assets: $18.01 million
  • Availability: Brick-and-mortar and online

Faith Cooperative Credit Union

The story of the Faith Cooperative Credit Union is a tale of two different organizations. St. John Federal Credit Union was founded in 1959. It became known as the Faith Cooperative Credit Union after it was integrated with the Friendship-West Baptist Church’s vision of a microloan bank.

  • Branches: Administrative Offices (Dallas, Texas)
  • ATMs: One located “near the Banquet Hall”
  • States: Texas
  • Services: Savings, loans, and gap protection
  • Assets: $1.67 million
  • Availability: Brick-and-mortar and online

FAMU Federal Credit Union

On May 8, 1935, six individuals were convinced to deposit $50 to acquire a federal credit union charter, resulting in the founding of the Florida A&M College Employees Federal Credit Union. By 1953, the organization renamed to Florida A&M University Federal Credit Union due to its location on the FAMU campus.

  • Branches: Office (Tallahassee, Fla.)
  • ATMs: One located in the “first drive-thru lane”as well asany ATMs that are part of the American Express, CULIANCE, The Exchange, Honors, Member Access, Plus, Presto, Publix, Walmart, and “other Credit Unions with the participating listed networks”
  • States: Florida
  • Services: Accounts (checking, savings, IRA), Rattler debit and VISA credit cards, loans, wire transfers, and other services (notary services, bill payments, etc.)
  • Assets: $22.85 million
  • Availability: Brick-and-mortar and online

First Independence Bank

In business since May 11, 1970, the First Independence Bank has served the Detroit Metropolitan area for 50 years. First Independence is the sole African American‐owned bank headquartered in Michigan, in addition to being one of two banks headquartered in Detroit.

  • Branches: Clinton Township Branch (Clinton Township, Mich.), Main Office Branch (Detroit, Mich.), and Seven Mile Branch (Detroit, Mich.)
  • ATMs: Garfield Branch (Clinton Township, Mich.), 1st Floor International Building (Detroit, Mich.), City County Building (Detroit, Mich.), Livernois (Detroit, Mich.), and Main Office Branch (Detroit, Mich.), Seven Mile Branch (Detroit, Mich.), in addition to “any nationwide . Fifth Third, TCF, or Chemical Bank ATM . in the Metro Detroit area”
  • States: Michigan
  • Services: Consumer and business services, in addition to loans
  • Assets: $290.57 million
  • Availability: Brick-and-mortar and online

First Legacy Community Credit Union

The School Workers Federal Credit Union was founded by a group of educators in Feb. 14, 1941. On Jan. 1, 2020, First Legacy Community Credit Union merged with the Self-Help Federal Credit Union and now operates as a division of Self-Help.

  • Branches: First Legacy Community Credit Union (Charlotte, N.C.)
  • ATMs: Part of the CO-OP/Covera ATM network
  • States: North Carolina
  • Services: Checking, savings, loans, and other services
  • Assets: $29.33 million
  • Availability: Brick-and-mortar and online

First Security Bank

The Security Trust and Savings Bank first opened for business in 1903. Twenty-six years later, it merged with the First National Bank of Charles City, creating the First Security Bank & Trust.

  • Branches: Aredale (Aredale, Iowa), Charles City Branch (Charles City, Iowa), Dumont Branch (Dumont, Iowa), Hampton Branch (Hampton, Iowa), Ionia Branch (Ionia, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), Rudd Branch (Rudd, Iowa), and Thornton Branch (Thornton, Iowa)
  • ATMs: Charles City Branch (Charles City, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), and Thornton Branch (Thornton, Iowa)
  • States: Iowa
  • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and lending (personal and auto loans, mortgage and home equity, etc.)
  • Assets: $564.98 million
  • Availability: Brick-and-mortar and online

GN Bank

In 1934—after working closely with the Federal Home Loan Bank of Chicago—13 African American men founded Illinois Service Federal to provide a savings and loan association for Black Chicagoans. The institution was acquired by Groupe Ndoum in 2016, which led to its name change to GN Bank in 2018.

  • Branches: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.)
  • ATMs: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.), in addition to any ATMs in the STAR network
  • States: Illinois
  • Services: Personal (checking, savings, and credit cards) and small business services (checking, lending, credit cards)
  • Assets: $133 million
  • Availability: Brick-and-mortar and online

Greater Kinston Credit Union

The Greater Kinston Credit Union was founded in 1952 and provides a variety of loans and deposit accounts. People who live, work, worship, or attend functions in Lenoir, Greene, Jones, Craven, and Pitt counties are eligible for membership.

  • Branches: Branch Office (Kinston, N.C.)
  • ATMs: Part of the CashPoints network
  • States: North Carolina
  • Services: Debit and credit cards; deposit (checking, savings, etc.), nonprofit, and youth accounts; mortgage and personal lending; and other services (automated services, branch services, etc.)
  • Assets: $12.91 million
  • Availability: Brick-and-mortar and online

Hill District Federal Credit Union

The Hill District Federal Credit Union got its start in 1970 and has provided financial services to its members for 50 years. People who live, work, or worship in the Hill District—as well as members of an organization that provides economic assistance in the same area—are eligible to join this institution.

  • Branches: Hill District Federal Credit Union (Pittsburgh, Pa.)
  • ATMs: N/A
  • States: Pennsylvania
  • Services: Debit and gift cards, savings, checking, loans, other services (money orders, financial literacy classes, etc.)
  • Assets: $7.79 million
  • Availability: Brick-and-mortar and online

Hope Credit Union

In 1995, members of the Anderson United Methodist Church organized the Hope Federal Credit Union to help low-income Jackson, Miss., residents with asset development, cooperation, and self-empowerment. Hope has since spread across the Deep South through its sponsors and by merging with other financial organizations, with the most recent being the Tri-Rivers Federal Credit Union in 2007. In June 2020, Netflix invested $10 million into Hope as part of its $100 million initiative to support economic opportunities for Black communities.

  • Branches: ArbaStreet Branch (Montgomery, Ala.), McGehee Road Branch (Montgomery, Ala.), College Station Branch (College Station, Ark.), Little Rock Branch (Little Rock, Ark.), Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Michoud Assembly Facility Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Itta Bena Branch (Itta Bena, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Louisville Branch (Louisville, Miss.), Macon Branch (Macon, Miss.), Moorhead Branch (Moorhead, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Utica Branch (Utica, Miss.), West Point Branch (West Point, Miss.), Jackson Branch (Jackson, Tenn.), Crosstown Branch (Memphis, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.), in addition to any credit unions in the Shared Branching network.
  • ATMs: Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Jackson Branch (Jackson, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.)
  • States: Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
  • Services: Personal (checking and wealth-building accounts, personal loans, credit cards, etc.) and business (checking and loans) banking, in addition to transformational deposits
  • Assets: $361.29 million
  • Availability: Brick-and-mortar and online

Howard University Employees Federal Credit Union

Originally chartered on Oct. 11, 1935, the Howard University Employees Federal Credit Union provides financial services to employees of Howard University and their family members. Those who join Howard University Employees FCU have a lifetime membership.

  • Branches: C B Powell Building (Washington, D.C.)
  • ATMs: Part of the CO-OP and CU Here networks
  • Locations: Washington, D.C.
  • Services: Accounts (savings, checking, etc.) and loans
  • Assets: $10 million
  • Availability: Brick-and-mortar and online (home loans only)

Industrial Bank

Industrial Bank first opened on Aug. 20, 1934, and is one of the larger Black-owned banks in the U.S. In addition to a wide variety of financial services, Industrial Bank also offers free financial education programs.

  • Branches: Harlem Banking Center (New York City, N.Y.), Bergen Street Banking Center (Newark, N.J.), Halsey Street Banking Center (Newark, N.J.), Anacostia Gateway Banking Center (Washington, D.C.), F Street Banking Center (Washington, D.C.), Forestville Banking Center (Washington, D.C.), Georgia Avenue Banking Center (Washington, D.C.), J.H. Mitchell Banking Center (Washington, D.C.), Oxon Hill Banking Center (Washington, D.C.), and U Street Banking Center (Washington, D.C.)
  • ATMs: Harlem Office (New York City, N.Y.), Bergen Street Office (Newark, N.J.), Halsey Street Office (Newark, N.J.), Anacostia Gateway Office (Washington, D.C.), Ben’s Chili Bowl (Washington, D.C.), DC Court of Appeals (Washington, D.C.), DC Superior Court (2) (Washington, D.C.), F Street Office (Washington, D.C.), Forestville Office (Washington, D.C.), Georgia Avenue Office (Washington, D.C.), J.H. Mitchell Office (Washington, D.C.), Nationals Park (Washington, D.C.), Oxon Hill Office (Washington, D.C.), and U Street Office (Washington, D.C.), in addition to any ATMs in the Allpoint network
  • States: New Jersey, New York, and Washington, D.C.
  • Services: Personal (loans, checking, etc.) and business (services, loans, etc.) services
  • Assets: $432 million
  • Availability: Brick-and-mortar and online 

Liberty Bank

Liberty Bank was originally chartered in New Orleans in 1972. After acquiring the United Bank and Trust Company in 2009, its service grew across the Greater New Orleans area. Liberty Bank is the second-largest Black-owned bank in physical footprint, with branches in eight states.

  • Branches: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), One united bank business credit card City Liberty Bank (Kansas City, Kan.), Louisville Liberty Bank (Louisville, Ky.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), Canal Street Liberty Bank (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), One united bank business credit card Ave Liberty Bank (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Woodward Ave Liberty Bank (Detroit, Mich.), Jackson Liberty Bank (Jackson, Miss.), and Kansas City Liberty Bank (Kansas City, Mo.)
  • ATMs: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), 4850 State Street (Kansas City, Kan.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), 910-B Decatur Street (New Orleans, La.), 2800 Gravier Street (New Orleans, La.), American Can (New Orleans, La.), Canal Street Liberty Bank (New Orleans, La.), City Hall (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Dillard — Rosenwald Hall (New Orleans, La.), Franklin Rouses (New Orleans, La.), French Market (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Lafon Nursing Facility (New Orleans, La.), Lockheed Martin Buildings 102 & 350 (New Orleans, La.), Orleans Sheriff (New Orleans, La.), Xavier University (2) (New Orleans, La.), Jackson Evers International Airport (Jackson, Miss.), Jackson Liberty Bank (Jackson, Miss.), Student Center (Jackson, Miss.), Tougaloo College (Jackson, Miss.), and Union Station (Jackson, Miss.)
  • States: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Mississippi, and Missouri
  • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and institutional (cash management, corporate financing, etc.) services
  • Assets: $756.77 million
  • Availability: Brick-and-mortar and online

Mechanics & Farmers Bank

Founded in 1907 by nine businessmen, the Mechanics & Farmers Bank is a state-chartered commercial bank. By 1935, M&F Bank became the first lending institution in North Carolina to receive FHA certification. Mechanics & Farmers merged with Fraternal Bank & The skeleton key in hindi download in 1921 and acquired Mutual Community Savings Bank in 2008.

  • Branches: Charlotte (Charlotte, N.C.), Corporate Headquarters (Durham, N.C.), Durham Branch — Durham-Chapel Hill Boulevard (Durham, N.C.), Greensboro (Greensboro, N.C.), Raleigh Branch — Rock Quarry Road (Raleigh, N.C.), Winston-Salem (Winston-Salem, N.C.)
  • ATMs: Durham Branch (Durham, N.C.) and Raleigh Branch — East Hargett Street (Raleigh, N.C.)
  • States: North Carolina
  • Services: Personal (checking and savings accounts, loans, etc.) and business (commercial checking and savings, loans, etc.) services, in addition to wealth management
  • Assets: $316.45 million
  • Availability: Brick-and-mortar and online

Mount Olive Baptist Church Federal Credit Union

It received its Federal Charter on Oct. 21, 1997. The Mount Olive Baptist Church Federal Credit Union is a faith-based, not-for-profit financial institution. Mount Olive Baptist Church members and their immediate families are eligible to join this organization.

  • Branches: Mount Olive Baptist Church FCU (Dallas, Texas)
  • ATMs: N/A
  • States: Texas
  • Services: Loans (auto, unsecured, etc.), savings accounts, direct deposits, and wire transfers
  • Assets: $8.36 million
  • Availability: Brick-and-mortar and online

Oak Cliff Christian Federal Credit Union

Officially chartered on Sept. 22, 2008, the Oak Cliff Christian Federal Credit Union is a Christian-based financial institution sponsored by the Oak Cliff Bible Fellowship. Members, employees, students, or family of the Oak Cliff Bible Fellowship (and its subsidiaries) are eligible to join the organization.

  • Branches: Oak Cliff Christian FCU (Dallas, Texas)
  • ATMs: N/A
  • States: Texas
  • Services: Loans, financial products (IRAs, money market, etc.), direct deposit, money orders, and credit reports
  • Assets: $7.34 million
  • Availability: Brick-and-mortar and online

Omega Psi Phi Fraternity Federal Credit Union

Founded in 1986, the Omega Psi Phi Fraternity Federal Credit Union is open to members of the fraternity, including its chapters, districts, and other related organizations, and their families, in addition to employees of both the fraternity and credit union itself.

  • Branches: Omega Psi Phi Fraternity Federal Credit Union c/o CAMO (Toccoa, Ga.)
  • ATMs: N/A
  • States: Georgia
  • Services: Accounts (single, joint, etc.), share draft checking, loans, and credit cards
  • Assets: $2.35 million
  • Availability: Brick-and-mortar and online

OneUnited Bank

OneUnited Bank was the first online-only Black-owned bank and is the largest Black-owned bank in the U.S. Originally founded in 1968 as Unity Bank and Trust Company, OneUnited has financed more than $100 million in loans thus far, predominantly in low- to moderate-income communities.

“Everyone is talking about OneUnited Bank now, but what they’re not focusing on with OneUnited Bank is they’re heavily engaged in financial education and financial literacy in the cities that need it most,” Tyrone Ross, community director of Altruist, explains. “So I feel like right now, when you support OneUnited, again you get those end roads into their programs they baby doll com have instituted to provide access to financial education and financial literacy.”

  • Branches: Compton Branch (Coming Soon) (Compton, Calif.), Corporate Office and Crenshaw Branch (Los Angeles, Calif.), Miami Branch (Miami, Fla.), Corporate Headquarters (Boston, Mass.), and Roxbury Branch (Roxbury, Mass.)
  • ATMs: Part of the MoneyPass network
  • States: California, Florida, and Massachusetts
  • Services: Checking, savings, and secured VISA credit card
  • Assets: $650 million
  • Availability: Brick-and-mortar and online

OPTUS Bank

The story of OPTUS began in 1921, with the founding of the Victory Savings Bank by a group of African American leaders. OPTUS is committed to helping anyone, regardless of background or situation, build their wealth and improve their lives.

  • Branches: Main Branch (Columbia, S.C.)
  • ATMs: Beltline Branch (Columbia, S.C.), Corporate Office (Columbia, S.C.), and Main Branch (Columbia, S.C.)
  • States: South Carolina
  • Services: Personal (IRAs, consumer loans, etc.) and business (transaction accounts, merchant services, etc.) banking
  • Assets: $161.53 million
  • Availability: Brick-and-mortar and online

South Side Community Federal Credit Union

Since 2004, the South Side Community Federal Credit Union has offered access to credit and savings services for its members, in addition to financial education. Individuals are eligible for membership if they live, work, worship, attend school, or belong to an organization that is within Chicago’s South Side.

  • Branches: South Side Community Federal Credit Union (Chicago, Ill.)
  • ATMs: N/A
  • States: Illinois
  • Services: Accounts (savings, checking, etc.), loans (payroll advance, payday alternative, etc.), financial education classes, and other services (transfer sweeps, money orders, etc.)
  • Assets: $5.08 million
  • Availability: Brick-and-mortar and online

Southern Teachers & Parents Federal Credit Union

With more than 80 years of service, Southern Teachers & Parents Federal Credit Union provides personalized financial services to its members. Those eligible for membership include alumni, employees, parents, and students of Southern University; employees in Assumption, East Baton Rouge, Lafourche, and West Feliciana parishes; employees in Thibodaux and the Lafourche Parish Juvenile Justice Facility; and their family members.

  • Branches: Main Office (Baton Rouge, La.) and Lafeda Branch (Thibodaux, La.)
  • ATMs: Part of the CU Alliance network
  • States: Louisiana
  • Services: Accounts (checking, savings, and youth), loans, other services (VISA debit and credit cards, financial counseling, etc.)
  • Assets: $30.34 million
  • Availability: Brick-and-mortar and online

St. Louis Community Credit Union

Originally chartered in 1942 as the Teachers Credit Union, St. Louis Community Credit Union offers both financial services and several programs to support consumers in the local community. Individuals who live or work in St. Louis City, Franklin, and St. Louis county in Missouri—as well as in St. Clair, Madison, Monroe, and Jersey counties in Illinois—are eligible for membership, in addition to their families.

  • Branches: Ferguson Branch (Ferguson, Mo.), Florissant Branch (Florissant, Mo.), Flower Valley Branch (Florissant, Mo.), Pagedale Branch (Pagedale, Mo.), Richmond Heights (Richmond Heights, Mo.), St. John Branch (St. John), Benton Park Branch (St. Louis, Mo.), Gateway Branch (St. Louis, Mo.), Grace Hill (St. Louis, Mo.), Jennings Branch (St. Louis, Mo.), LifeWise STL (St. Louis, Mo.), Midtown Branch (St. Louis, Mo.), South City (St. Louis, Mo.), Southtown Branch (St. Louis, Mo.), Sullivan Branch (St. Louis, Mo.), University City (University City, Mo.), MET Center (Wellston, Mo.)
  • ATMs: Part of the CO-OP network
  • States: Missouri
  • Services: Loans (auto, personal, etc.), accounts (savings and checking), business development, advocacy, and insurance (life, AD&D, etc.)
  • Assets: $285 million
  • Availability: Brick-and-mortar and online

The Harbor Bank of Maryland

Originally opening its doors in September 1982, The Harbor Bank of Maryland offers banking and other financial services, primarily in the Baltimore metropolitan area. Harbor Bank was also the first community bank in the U.S. to have an investment subsidiary and the first to receive funding from Fannie Mae via the Community Development Financial Institution (CDFI) program. Harbor Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

  • Branches: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.)
  • ATMs: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), route 66 usa pantip Silver Spring (Silver Spring, Md.), in addition to any ATMS in the AllPoint network
  • States: Maryland
  • Services: Personal (checking, mortgages, etc.) and business (checking, savings, etc.) banking, in addition to loans (personal, mortgage, and business)
  • Assets: $327.45 million
  • Availability: Brick-and-mortar and online

Toledo Urban Federal Credit Union

Toledo Urban Federal Credit Union originally opened its doors on July 21, 1996, to help its members achieve economic empowerment. Membership in Toledo’s first community development credit union is available to individuals who live, work, worship, perform volunteer services, or participate in associations headquartered in the central city community, in addition to their families.

  • Branches: Nexus Building (Toledo, Ohio) and Toledo Urban Federal Credit Union (Toledo, Ohio)
  • ATMs: N/A
  • States: Ohio
  • Services: Checking and share accounts, loans (personal, tuition, etc.), credit and ATM/debit cards, credit counseling, and other services (notary service, overdraft jose luis perales un barco llamado libertad letra, etc.)
  • Assets: $10 million
  • Availability: Brick-and-mortar and online

Tri-State Bank

In the first 10 years after its founding in 1946, Tri-State Bank of Memphis made more than $10 million in first mortgage loans on homes, representing home ownership for more than 2,000 African American families. Tri-State has also played a critical part in the civil rights movement, including hosting local sit-ins in the bank’s boardroom, providing bail money for protesters, and providing $60,000 in loans to help save the Lorraine Motel, the site of Dr. Martin Luther King’s assassination, from foreclosure in 1982.

  • Branches: Whitehaven (Memphis, Tenn.)
  • ATMs: Whitehaven (Memphis, Tenn.) and any ATMs in the Money Tower network
  • States: Tennessee
  • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), loans (auto, mortgage, etc.), and other services (financial education, Fraud Center, etc.)
  • Assets: $111 million
  • Availability: Brick-and-mortar and online

United Bank of Philadelphia

Originally founded in 1992, United Bank of Philadelphia offers personalized banking services in the Greater Philadelphia area to both individuals and businesses. By providing financing to small businesses in urban areas, United Bank supports their growth and allows them to create jobs with livable wages, thus improving the economic condition of those working in the local community.

  • Branches: Center City (Philadelphia, Pa.) and Progress Plaza (Philadelphia, Pa.)
  • ATMs: C-Town Supermarket chase bank name change kit, Pa.), City Hall (Philadelphia, Pa.), Criminal Justice Center (Philadelphia, Pa.), Masjidullah Inc. (Philadelphia, Pa.), Philadelphia Traffic Court (Philadelphia, Pa.), Police Pnc bank locations warsaw indiana (Philadelphia, Pa.), Revolutions at Penn Treaty (Philadelphia, Pa.), The Fillmore-Philadelphia (Philadelphia, Pa.), and West Philadelphia (Philadelphia, Pa.)
  • States: Pennsylvania
  • Services: Personal and business banking (checking, savings, etc.), in addition to loans (SBA and commercial loans)
  • Assets: $54.64 million
  • Availability: Brick-and-mortar and online

Unity National Bank

The bank was founded in 1963 and chartered in 1985. “In February 1989, through a series of transactions and diligent efforts, it was acquired from Bay Bancshares by local minority leaders,” the bank’s history reports. Unity focuses on helping to rebuild the community with an emphasis on commercial loans and mortgages. It also works closely with civic organizations and agencies, such as the NAACP and the Third Ward Redevelopment Council.

  • Branches: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas)
  • ATMs: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas), in addition to any ATMs in the Select network
  • States: Georgia and Texas
  • Services: Business and personal services (loans, checking and savings accounts, etc.)
  • Assets: $133.61 million
  • Availability: Brick-and-mortar and online

Urban Upbound Federal Credit Union

Urban Upbound was founded in 2004, to provide five integrated programs to individuals living in public housing and and other low- and moderate-income neighborhoods. The Urban Upbound Federal Credit Union offers affordable financial services to its members.

  • Branches: Urban Upbound Federal Credit Union (Long Island City, N.Y.)
  • ATMs: N/A
  • States: New York
  • Services: Savings, share certificates, as well as personal and small business loans
  • Assets: $1.35 million
  • Availability: Brick-and-mortar and online

Virginia State University Federal Credit Union

Authority chase bank account customer service establish 1st grade reading comprehension worksheets pdf free Virginia State College Federal Credit Union was granted on Oct. 19, 1938. On May 22, 1979, the organization’s board of directors voted to change the name to the Virginia State University Federal Credit Union.

  • Branches: Virginia State University Federal Credit Union (South Chesterfield, Va.)
  • ATMs: Virginia State University Federal Credit Union (South Chesterfield, Va.)
  • States: Virginia
  • Services: Loans, accounts (checking, savings, etc.), insurance, and other services (wire transfer, direct deposit, etc.)
  • Assets: $10.17 million
  • Availability: Brick-and-mortar and online
Источник: https://www.investopedia.com/black-owned-banks-by-state-5024944

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One Florida Bank

Effective cash management

Our Treasury Management solutions help businesses streamline direct deposits and payments to keep your company efficient, reduce costs, and let your team stay focused on select refund matters most for your customers.

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To us, putting relationships first means getting to know you and what you want in your dream home.

From there, our lending team will help you find the right loan to make that dream a reality.

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A better kind of bank.

We believe a locally-owned and managed bank better serves your needs. We put relationships first,

because when you know your banker, and your banker knows you, our goals are One.

Let’s talk about how our personal, one-on-one approach can support your needs.

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OneUnited Bank And The Myth of (Black) Banking

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We make the approval process easy and offer low rates and flexible terms. Funds will be deposited to your account in a lump sum, making a personal loan more favorable than a credit card. This is a perfect option for unexpected expenses, big-ticket items or debt consolidation.

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Help Provide Holiday Gifts For Deserving Children

The Georgia United Foundation's® Wish Tree Program collects new toys and clothing for foster children through local Divisions of Family & Children Services (DFCS) and similar organizations throughout November. Wish Tree wishes will be available on trees at our branches and online through December 8.

Donate to a child in need

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Give back when you shop this holiday season—at no cost to you! When you shop on AmazonSmile, select the Georgia United Foundation® as your preferred charity and each time you make an eligible purchase, 0.5% will be donated to the Georgia United Foundation. Donations will be used to support causes and programs that help strengthen our local communities.

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Get Your Debit Card Instantly

If you're in need of a new debit card, but can't wait for the mail to arrive, we've got you covered. Stop by any Georgia United branch location and we'll provide a replacement card to you instantly!

Choose from several design options including our Georgia Bulldogs® Debit Cards to show your team pride everywhere you spend. Cards available for instant issue include our Bulldog Head and Georgia United designs.

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Being a member has its perks

As a Georgia United member, you can save money with our member-exclusive discounts through Love My Credit Union Rewards and Georgia United perks.

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The staff at Georgia United Credit Union are always extremely courteous and professional. I have been a member for several years and I've always felt that they were genuinely interested in my financial health. They truly go the extra mile to make sure the members are satisfied.

- Cristy L.

Think of everything you would appreciate about a helpful, engaging and hassle-free banking experience. That is exactly what I received! I have already referred five people to Georgia United. I will definitely be working with your fine staff again.

- Michael D.

I love that Georgia United is a not-for-profit bank! I tell all my friends to bank here. It's just an entirely different approach to banking that puts the customer first.

- Julie P.

Throughout the pandemic, there has been a smooth transition to online banking while the in-person tellers were closed. I have been able to manage my funds via online banking and even purchased a new vehicle with the assistance of the Loan Processor with whom I was able to reach via phone or email at the touch of a button.

- Alexis M.

I've enjoyed banking with Georgia United since we moved to Georgia. My entire family banks here. All of our financial needs are met. Everyone has offered us great customer service as well.

- Natasha B.

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Источник: https://gucu.org/

OneUnited UNITY® Visa Secured Credit Card Review

The UNITY® Visa Secured Credit Card from OneUnited Bank is a secured credit card with no annual fee and reasonable interest rates. With automatic payment pattern and credit utilization reporting to the 3 major consumer credit bureaus, it offers a clear path to rebuilding credit for cardholders who use it responsibly.

The UNITY Visa Secured Credit Card is issued by OneUnited Bank, an FDIC-insured institution that’s officially the country’s largest African American-owned bank and the first African American-owned online bank. OneUnited Bank prides itself on offering fair rates and terms, and takes seriously its mission to empower Americans from all walks of life.

If you’re in the market for a secured credit card that can empower you to improve your credit and purchasing power, check out UNITY Visa Secured Credit Card.

Key Features

Initial Deposit Requirement and Refund

The UNITY Visa Secured Credit Card requires an initial security deposit of at least $250 into a collateral account. Your initial deposit amount is dictated by OneUnited Bank and is dependent on your creditworthiness. Your collateral balance secures OneUnited Bank’s interest in your credit account – if you become delinquent, the bank reserves the right to seize the balance to cover your outstanding debts.

Your credit limit for spending is always equal to the balance in your collateral account. Your cash advance allowance is capped at 50% of your collateral balance. For example, on a collateral balance of $1,000, you can draw $500 as a cash advance. Your collateral account balance does not earn interest.

Once you pay off your outstanding card balance in full and close out your account, you receive a full refund of your security deposit.

Credit Limits and Limit Increases

This card’s minimum credit limit is $250. The maximum is $10,000.

You can apply for a higher credit limit whenever you choose, though you’re not guaranteed to get your wish and OneUnited Bank reserves the right to adjust your limit as it sees fit (upward or downward) at any time. If your credit limit is increased, you need to make a corresponding deposit into your collateral account.

Credit Bureau Reporting

Every billing cycle, OneUnited Bank reports your credit utilization and payment patterns (or lack thereof) to the major credit reporting bureaus: Experian, TransUnion, and Equifax. With responsible use and timely bill payment over time, this is likely to improve your credit score and help you qualify for more generous credit products.

Introductory APR

This card has a 6-month balance transfer APR promotion. For 6 months from the day you open your account, your balance transfer APR is set at 9.95%. This promotion does not apply to your purchase or cash advance APRs.

Regular APR

Once the 6-month balance transfer promotion ends, the balance transfer APR rises to 17.99%. The purchase and cash advance APRs remain at this level from the day you open your account. There is no penalty APR.

Unlike most credit card issuers, OneUnited Bank does not allow these APRs to fluctuate with prevailing interest rates prior to the card’s expiration date. No matter what interest rates do, your APR will remain at 17.99% through your card’s expiration date.

Important Fees

There is a $39 annual fee. The foreign transaction fee is 2% of the transaction amount (in U.S. dollars). Balance transfers and cash advances both cost 3% or $10, whichever is greater, with a maximum charge of $150 per transfer or advance. Late payments cost $10, while returned payments cost $25.

Credit Required

This card is designed for people with poor credit. In fact, OneUnited Bank does not hold applicants to a minimum credit score. Although you may still be disqualified for a personal bankruptcy in the recent past, many serious credit issues are not necessarily cause for denial.

Advantages

  1. Introductory Balance Transfer Promotion. The UNITY Visa Secured Credit Card’s 6-month, 9.95% APR introductory balance transfer promotion provides a solid break on interest charges for cardholders who need to transfer existing card balances from other, higher-interest accounts. Few other secured cards offer introductory promotions of any kind.
  2. No Minimum Credit Score. This card is explicitly designed for people with bad credit. OneUnited Bank does not have a minimum credit score threshold below which applicants are automatically disqualified. That’s great news if you’re in the process of recovering from a bankruptcy or other serious adverse credit event.
  3. Relatively Low APR for a Secured Card. Though this card’s purchase, balance transfer, and cash advance APRs are not low relative to top-of-the-line cash back credit cards and travel rewards cards, they’re low compared with other popular secured credit cards. Most competitors charge upwards of 20%, and some are north of 25% – especially for cash advances, which tend to be more expensive than purchases and balance transfers. For instance, Capital One Secured Mastercard and Discover it Secured Credit Card both have purchase APRs near or north of 25%.
  4. APR Fixed Until Card Expiration Date. The UNITY Visa Secured Credit Card’s APR is fixed from sign-up until expiration. For cardholders who carry balances from month to month, this has the potential to substantially reduce interest charges over time in a rising interest rate environment. Most other cards reserve the right to adjust their APRs (usually upward) as prevailing interest rates change.
  5. No Penalty APR. OneUnited Bank doesn’t charge penalty interest on past-due balances. That’s a welcome relief for cardholders who occasionally miss payments due to liquidity issues, and a key differentiator between this card and many other secured products.
  6. Relatively High Credit Limit. This card’s upper credit limit is $10,000. That’s relatively high for a secured credit card, especially one designed explicitly for people with bad credit. (Some secured cards have stricter underwriting standards.) If your income is higher than your challenged credit might suggest, this card is worth a closer look.

Disadvantages

  1. Charges an Annual Fee. The UNITY Visa Secured Credit Card has a $39 annual fee. While not huge in absolute terms, it’s on the high end for the secured credit card category. Some competitors, including Navy Federal Credit Union nRewards Secured Credit Card and Discover it Secured Credit Card, do not charge annual fees.
  2. No Automatic Upgrade Consideration. Since this card has no non-secured “parent” card, OneUnited Bank can’t automatically consider cardholders in good standing for upgrades. Secured cards issued by larger financial institutions, such as Bank of America and Capital One, generally do offer this privilege. If you want to upgrade your UNITY Visa to a non-secured card, you need to wait until your credit improves, apply for a non-secured card with another institution, and then close your UNITY Visa account.
  3. No Interest on Security Deposit. OneUnited Bank doesn’t pay interest on security deposits held in cardholders’ collateral accounts. If you’re looking for a secured card issuer that pays you to hold your money, you need to look elsewhere.
  4. Credit Limit Is Always Equal to Security Deposit. Your credit limit is always equal to the security deposit held in your collateral account, no matter how long your account remains open. If cash is tight and you’re looking to finance a large purchase, consider a non-secured alternative for credit rebuilding, such as Capital One Platinum Credit Card.
  5. No Rewards or Sign-up Bonus. This card doesn’t offer any cash back rewards or a sign-up bonus. That’s a disadvantage relative to competitors such as the Discover it Secured Credit Card and Navy Federal Credit Union nRewards Secured Credit Card, both of which offer modest but meaningful cash back allowances.
  6. Moderately High Initial Deposit Requirement. Before you can use your UNITY Visa Secured Credit Card, you need to deposit at least $250 into your collateral account. If cash is scarce, this could be a high bar to clear. By contrast, Capital One Secured Mastercard lets you open your account with as little as $49 down.

Final Word

Secured credit cards get short shrift in favor of more glamorous products: generous travel rewards cards with juicy benefits such as complimentary airport lounge access and travel credits, cash back credit cards with eye-popping sign-up bonuses, and even no-frills cards with super-long 0% APR introductory promotions and low ongoing APRs.

Since these cards cater to buyers with good to excellent credit and (often) ample buying power, this dynamic is totally understandable. But not everyone can qualify for super-generous credit cards, especially after adverse events that leave them in credit-rebuilding mode. While it’s not the absolute best secured card out there, the UNITY® Visa Secured Credit Card is a little-known but fully worthy addition to the category. If you’re seeking a fair, honest card that – in the words of OneUnited Bank – gives you “a second chance at credit,” it’s worth a closer look.

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Источник: https://www.moneycrashers.com/oneunited-unity-secured-card-review/

One Florida Bank

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To us, putting relationships first means getting to know you and what you want in your dream home.

From there, our lending team will help you find the right loan to make that dream a reality.

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A better kind of bank.

We believe a locally-owned and managed bank better serves your needs. We put relationships first,

because when you know your banker, and your banker knows you, our goals are One.

Let’s talk about how our personal, one-on-one approach can support your needs.

Contact Us

Read more on our accessibility statementИсточник: https://www.onefloridabank.com/

Business Loans


Commercial & Small Business Loans

  • Short or long term loans
  • Lines of credit
  • All-in-one banking (checking, savings, loans, etc.)
  • Builds relationship with bank and credit history
  • Competitive interest rates
  • Accounts may be debited for payments
  • Secured or unsecured
  • Within approved guidelines repayment schedules can be adaptable to customers
  • Fixed and variable interest rates

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Small Business Administration (SBA) Lending Solutions

We understand the challenges - and rewards - that come with owning your own business. Whether your goals include starting a new business, expanding your business or simply accessing additional working capital for a major purchase, United Bank offers a variety of lending solutions to help you meet your goals - and our commitment to business lending has never been stronger. 
When your business needs financing, consider an SBA loan.* SBA loans offer distinct advantages designed to assist small businesses in accessing the capital they need to grow. As an SBA lender, United Bank's SBA Specialists can help you find the SBA financing option that is right for your business. 

Why United Bank?

Since 1904, United Bank has been serving the communities of Southwest Alabama and Northwest Florida. At United Bank we offer: 

  • Personal service
  • Local decision making
  • Bankers who know you and your community
  • All in one banking (checking, savings, loans, etc.)
Why SBA?

Benefits of SBA loans versus conventional financing options include: 

  • Up to 25 year terms, with no balloon payments
  • Fixed or variable interest rates up to 25 years
  • As little at 10% down payment on commercial real estate
  • No loan covenants
  • Less stringent collateral requirements
  • A United Bank SBA specialist can help you complete your SBA loan application

Several SBA loan options are available to meet different business needs:SBA 7(A) LOANS

  • Loan limit up to $5,000,000
  • Eligible activities for 7(a) financing include starting or acquiring a business, expanding a business or refinancing existing debt
  • Loan proceeds may be used for working capital, equipment, commercial real estate or exporting

CAPLINES PROGRAM

  • Provides a revolving line of credit up to $5,000,000
  • Borrowers must use the loan proceeds for short term working capital/operating needs

SBA EXPRESS LOANS/SMALL LOAN ADVANTAGE

  • Loan limit up to $350,000
  • Similar to 7(a) loan, but simpler application process and faster approval

SBA 504 LOANS

  • Loan limits between $125,000 to over $10,000,000+
  • Designed to help small businesses acquire fixed assets, such as commercial real estate or equipment
  • Provides affordable, long-term financing through certified development companies (CDC's) in cooperation with United Bank
  • Borrower pays as little at 10% down on the purchase of real estate and equipment
  • Includes job creation requirement*
Need help with exporting or international trade?

Unique SBA loans are available to businesses who want to begin or expand exporting into international markets. These loans can also help you be more competitive if you are adversely affected by import competition. A United Bank SBA specialist will review all of the details with you. 

 

 

Who qualifies for SBA? 

The SBA has specific criteria for businesses to qualify for SBA loans:

  • The business must operate for-profit, meet the SBA size standards and be an eligible business type
  • The business must operate in the United States or its possessions
  • The business must show that the loan can be repaid from existing cashflow
  • Borrowers must show good character and demonstrate sound credit management

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*All loans are subject to credit review and approval. Unlike 7(a) loans, 504 loans include job creation requirements: Manufacturers, for example, must create or retain one new job for each $100,000 of the loan, while all other industries must create or retain one new job for each $65,000 of the CDC 504 loan.

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Источник: https://www.unitedbank.com/business-loans-lines-credit.htm

Visa® Credit Card

Our Platinum credit cards offer hometown convenience, worldwide acceptance and great benefits.

Three great options all from the bank you know best.

  • Rewards Platinum - Unlimited reward points. Earn one point per dollar on net purchases and redeem them for merchandise, rental cars, travel and more. Visit cRewardsCard.com for details.4
  • Cash Rewards Platinum - Cash rewards never expire. Earn 1% cash back on all net purchases.4
  • Platinum Edition - No penalty APR and low interest rates*.

Enjoy the following features with all of the above options:

  • No Annual Fee*
  • 0% Intro APR* on Purchases and Balance Transfers for 12 months. After that, a variable APR, currently 8.99% - 22.99% will apply.*
  • Mobile Payments - a safe and secure way to pay with Apple Pay™, Google Pay™, or Samsung Pay™.
  • Free FICO® Score1 - view your FICO® Score for free and monitor your credit
  • Fraud Monitoring and Zero Fraud Liability - we monitor your account for fraudulent charges and your liability for unauthorized transactions is $0.
  • SecurLOCKTM Email and Text Fraud Alerts - receive alerts regarding suspicious charges on your account
  • Cell Phone Protection2 - protect your phone from theft or damage when you pay your bill with this card2
  • Travel Accident Insurance3 - you’re covered up to $150,000 when you use this card to purchase travel tickets
  • ID Navigator Powered by NortonLifeLock5- stay informed of potential threats to your identity

Get Started

Apply Now

Click here to learn more about our Visa® Business Credit Cards.

Click here to register and access your account online
Click here to redeem rewards points

*0% Intro Annual Percentage Rate applies to purchases and balance transfers for the first 12 billing cycles after account opening. When this period ends, your APR will vary based on the highest U.S. Prime Rate published in the Wall Street Journal on the last business day of the calendar month prior to your statement closing date (“Last Business Day”) and apply it beginning with the first billing period following the Last Business Day. We add a margin to the Prime Rate to determine variable APRs. APRs shown here are based on a 3.25% Prime Rate. For each billing period, the APR may increase or decrease with the Prime Rate. Rewards Platinum APRs are currently between 9.99% and 19.99%, Platinum Edition APRs are currently between 8.99% and 18.99%, and Cash Rewards Platinum APRs are currently between 12.99% and 22.99%. Rates are accurate as of April 30, 2020 and are subject to change. To find out what may have changed, contact us or check our website for current rates. If you make a late payment or make a payment that is returned unpaid during the introductory period we may end your introductory APR and apply the standard purchase and balance transfer APR. Balance transfer fees are either $5 or 3% of each balance transferred, whichever is greater. Cash advance fees are either $5 or 3% of each cash advance, whichever is greater. Foreign transaction fees, for merchants located outside of the U.S., are (a) 1% of the U.S. dollar amount of the transaction, if converted from a foreign currency, or (b) 1% of the U.S. dollar amount of the transaction, if made in U.S. dollars. Subject to credit approval. This card is issued by TCM Bank, N.A.

1 FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. FICO® Scores are updated monthly. You may not see your FICO® Score right away. Some exclusions apply. Cardholders receiving employee pricing are not eligible.

2 Certain terms, conditions and exclusions apply. In order for the coverage to apply, you must charge your eligible cellular wireless bill to your covered TCM Bank-issued card. To learn more about this benefit visit the FAQ section at www.cardbenefitservices.com or call 1-866-894-8569.

3 Coverage applies when -the entire cost of the fare (less redeemable certificates, vouchers, or coupons) has been charged to the card. Your account must be in good standing. Restrictions to coverage may apply.

4 In order to access rewards, your account must be open and in good standing.

5 No one can prevent all identity theft


Источник: https://www.ccbankonline.com/personal-banking/visa-credit-card/
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one united bank business credit card
one united bank business credit card

Comments

  1. Hey men where do i get my card number? Do i make my own card number???

  2. সবাই যোগদানের চিন্তা করছে আর আপনি এখনও ফলাফলের চিন্তা করছেন মহাশয়া।।।

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