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The Black Only Bank

Mike

Well-known member
OneUnited Bank Internet Savings Account Endorsed By BlackElectorate.com Black Bank Initiative



July 23, 2008 - Los Angeles, CA
OneUnited Bank has been recognized by BlackElectorate.com's Black Bank Initiative (http://www.blackownedbank.com/) for its high rate internet savings account. The Unity Gold E-Savings Account has been endorsed by the website's initiative for wealth creation, financial literacy and community development.

"OneUnited Bank remains the leader in not only providing online banking products and services to Black America, but its internet savings account interest rate is recognized - industry-wide - as among the highest available from any commercial banking institution. We strongly encourage individuals interested in maintaining purchasing power through savings to consider opening a UNITY Gold E-Savings Account," stated Cedric Muhammad, Convener of the BlackElectorate.com ‘Business and Building’ Community, which launched its Black-Bank Initiative in 2006 in order to promote wealth accumulation and financial empowerment.

"OneUnited Bank is committed to the important values represented by this Initiative. We are excited by The BlackElectorate.com ‘Business and Building’ Community's endorsement of our financial product, and pleased that our internet savings account is being recognized inside and outside of the African-American community," stated Kevin Cohee, Chairman and CEO of OneUnited Bank. In keeping with its mission of service to traditionally under-served communities, OneUnited Bank has created this product to encourage savings and financial stability, and to promote financial literacy within the African-American community.

The BlackElectorate.com "Business and Building" Community is a diverse group of entrepreneurs, professionals, activists, artists, intellectuals and students, established in October of 2006. It has launched Initiatives in four areas: Business and Investment; Community Development; Political Action; and International Affairs.

The BlackElectorate.com ‘Business and Building’ Black-Owned Bank Initiative is working in partnership with the Moneywise Community Outreach Program founded by Kelvin Boston, host of "Moneywise with Kelvin Boston," (www.moneywise.tv ) a multi-cultural financial affairs program. Mr. Boston's latest book, "Who's Afraid To Be A Millionaire?"( www.moneywise.tv/millionaire_book.html) is the official reference resource of the Community's Business and Investment Initiative.

OneUnited Bank (www.oneunited.com) is the first inter-state and fastest growing Black-owned bank in the U.S. with $750 million in assets and branches in Massachusetts, Florida and California. Its mission is to be the premier bank serving urban communities by offering affordable financial services, while maintaining superior financial performance. The FDIC insured bank has grown through a combination of organic growth and by acquiring community banks in Massachusetts, Florida and California that share its mission. OneUnited Bank is a certified Community Development Financial Institution by the U.S. Department of Treasury and an Equal Housing Lender.
 

badaxemoo

Well-known member
Sandhusker said:
Reader, fff, Mrs. Greg, Nono, Alice, any of the other racial police;

Is this bank a racist bank?

Does this bank say anything about excluding white, asian, or latino investors from using its services?
 

badaxemoo

Well-known member
reader (the Second) said:
Let's say I have a group devoted to people of German ancestry and it gets together for bratwurst and bier and gives out scholarships to kids who are of German ancestry. Is it racist? You bet your life not.

Go look up the word racism. It has to do with stereotyping an entire group of people or denying someone equal rights based on their ethnic or racial group.

Please don't bother trying to explain the concept of racism to Sandhusker and his ilk.

They just don't want to try to understand it.
 

Sandhusker

Well-known member
If they want to do this, then fine, I say do what you want to do, it's your business. However, what do you think would be the reaction if a bank took the same approach these folks did and advertised catering to White America?
 

badaxemoo

Well-known member
Sandhusker said:
If they want to do this, then fine, I say do what you want to do, it's your business. However, what do you think would be the reaction if a bank took the same approach these folks did and advertised catering to White America?

Why would someone do that?
 
A

Anonymous

Guest
badaxemoo said:
Sandhusker said:
Reader, fff, Mrs. Greg, Nono, Alice, any of the other racial police;

Is this bank a racist bank?

Does this bank say anything about excluding white, asian, or latino investors from using its services?

Yep-- I wonder if the banks/business's up here that cater to and advertise for the Canadians business should be considered racist :???:
 

badaxemoo

Well-known member
Oldtimer said:
badaxemoo said:
Sandhusker said:
Reader, fff, Mrs. Greg, Nono, Alice, any of the other racial police;

Is this bank a racist bank?

Does this bank say anything about excluding white, asian, or latino investors from using its services?

Yep-- I wonder if the banks/business's up here that cater to and advertise for the Canadians business should be considered racist :???:

I've learned something very interesting from Sandhusker.

Everybody is a racist - except actual racists.
 

hypocritexposer

Well-known member
Bringing in a new era, for sure. This from an inagural ball.

http://www.youtube.com/watch?v=do6gs0M7vfw&eurl=http://hotair.com/archives/2009/01/22/video-michelle-on-the-my-president-is-black-kerfuffle/&feature=player_embedded
 

Sandhusker

Well-known member
badaxemoo said:
Sandhusker said:
If they want to do this, then fine, I say do what you want to do, it's your business. However, what do you think would be the reaction if a bank took the same approach these folks did and advertised catering to White America?

Why would someone do that?

What does that matter? Venture a guess what the reaction would be in the press.

Why would somebody claim to have nothing to hide, and then spend thousands of dollars to hide a supposedly legitimate document instead of a few bucks to bring it out for scrutiny?
 

Mike

Well-known member
JANUARY 22, 2009, 2:45 P.M. ET Political Interference Seen in Bank Bailout Decisions
Barney Frank Goes to Bat for Lender, and It Gets an Infusion
By DAMIAN PALETTA and DAVID ENRICH
Troubled OneUnited Bank in Boston didn't look much like a candidate for aid from the Treasury Department's bank bailout fund last fall.

The Treasury had said it would give money only to healthy banks, to jump-start lending. But OneUnited had seen most of its capital evaporate. Moreover, it was under attack from its regulators for allegations of poor lending practices and executive-pay abuses, including owning a Porsche for its executives' use.

Nonetheless, in December OneUnited got a $12 million injection from the Treasury's Troubled Asset Relief Program, or TARP. One apparent factor: the intercession of Rep. Barney Frank, the powerful head of the House Financial Services Committee.

Mr. Frank, by his own account, wrote into the TARP bill a provision specifically aimed at helping this particular home-state bank. And later, he acknowledges, he spoke to regulators urging that OneUnited be considered for a cash injection.
 

Texan

Well-known member
Barney Frank’s hypocrisy

By Boston Herald Editorial Staff
Saturday, January 24, 2009

Ah, the dirty little secret is out. That $700 billion TARP (Troubled Asset Relief Program) bill was in part simply a variation on congressional pork - except this time the recipients were banks with friends in high places.

One of those powerful friends was Rep. Barney Frank (D-Newton), chairman of the House Financial Services Committee. And one of the recipients of a $12 million infusion of federal cash was the troubled OneUnited Bank in Boston - a bank that had already been accused of “unsafe and unsound banking practices.” Its CEO, Kevin Cohee had also been criticized by regulators for “excessive” pay that included a Porsche.

Frank admits he included language in the TARP legislation specifically designed to bail out OneUnited. He also acknowledges contacting officials at the Treasury Department about the bank’s bailout application.

“I believe it would have been a very big mistake to put the only black bank (in Massachusetts) out of business,” Frank said. Besides, he insists, “It was a case of the federal government causing the problem.”

Causing the bad loans OneUnited made? Or would that go back to Fannie Mae and Freddie Mac, which Frank so staunchly defended earlier on?

Frank has never failed to amaze us with his ability to defend the indefensible and to staunchly uphold the double standard. It’s his special talent.



http://www.bostonherald.com/news/opinion/editorials/view/2009_01_24_Frank_s_hypocrisy/
 
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