In the news: OneUnited Bank

OneUnited Bank, the country’s largest black-owned bank, has been recently named one of the best in the business by Inc. Magazine. Kevin Cohee, chairman and CEO of OneUnited, instigated one of the largest Black banking movements in 2016 in the wake of increasing police brutality in America. This movement and the bank’s growth since Cohee’s takeover in ’96 elevated OneUnited Bank’s assets from $56 million to $650 million today.

Cohee earned his JD from Harvard Law School in 1985 and prior to his time at Harvard, received his Bachelor of Arts and master’s degree in business administration from the University of Wisconsin.

Cohee worked as an investment banker at Solomon Brothers Incorporated in his early career. After years of career and financial success, Cohee purchased a controlling interest in the Boston Bank of Commerce in 1995 before being elected chairman and CEO in 1996.

“’We are incredibly proud to have been recognized by INC Magazine for our accomplishments in the financial services industry. Every day we witness the transformative power of financial empowerment and the difference it makes in people’s lives,” said Cohee. ‘This drives our passion and commitment to continue our mission.’”

Inc. Magazine defines OneUnited Bank on their list as “A community development financial institution closing the racial wealth gap and making financial literacy a core value for all Americans.”

Over the past 50 years, OneUnited Bank has prided itself on its efforts to bolster financial literacy and better financial wellness within its communities. In Inc. Magazine’s efforts to seek out dynamic and inspiring companies and organizations dedicated to the betterment of their communities both internally and externally, OneUnited Bank stood out because of its commitment to uniting communities through resources and innovation.

Inc.’s Best in Business Awards are open to companies of all sizes and types, in all industries and locations. Inc. editors hand-review every application and select Best in Business honorees that, in each of the award categories, have had an outstanding influence on their communities, their industries, the environment, or society as a whole.