bank rates

OneUnited Bank 5.25% APY Money Market

OneUnited Bank has 5.25% APY on a UNITY Internet Savings Account. It looks like there is no minimum needed to get this rate. Check it out!

OneUnited Bank is the very first Internet Bank that is black owned and OneUnited proudly announces that it is the largest bank in the country that is black owned. The offices of OneUnited are situated in Boston, Los Angeles and Miami and it is the recipient of the United States Department of Treasury’s Bank Enterprise Award. OneUnited made its Internet début in February 2006 in an effort to reach a wider audience and to establish a broader customer base.

In a three year time span OneUnited Bank has financed more than 350 million dollars in loans; helping church organizations, retail businesses, as well as individuals looking to get affordable housing. OneUnited Bank’s operations primarily involve mortgage loans and the bank aims to assist low income and moderate income communities. OneUnited also offers personal banking and business banking services that are accessible online.

The bank had its early beginnings nearly 50 years ago and started with the Unity Bank & Trust in Massachusetts. OneUnited is a product of the merging of black-owned banks across the nation: Boston Bank of Commerce, Family Savings Bank in Los Angeles, Founders National Bank of Commerce in Los Angeles, and Peoples National Bank of Commerce in Miami united to create what is known today as OneUnited Bank. Plans for continue expansion are on the horizon for OneUnited; the acquisition of other financial service institutions with a similar mission and the establishment of new branches, and automated teller machines are in the future for OneUnited.

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