Building Black Wealth: Ownership, Credit, and Financial Freedom with Teri Williams

Empowering Black Communities Through Financial Literacy and Innovation

In a recent episode of the Wake Up with Dee Morning Show on News & Talk WAOK, guest host Rob Wilson engaged in an insightful conversation with Teri Williams, President and Chief Operating Officer of OneUnited Bank. As the nation’s largest Black-owned bank, OneUnited Bank has been at the forefront of efforts to empower Black communities through financial literacy, wealth-building strategies, and a mission to close the racial wealth gap.

Teri Williams brings over 30 years of experience in the financial services industry, having worked at prestigious institutions like Bank of America and American Express. She was one of the youngest Vice Presidents at these organizations, showcasing her leadership and expertise from an early stage. As COO of OneUnited Bank, she plays a critical role in overseeing daily operations, including retail branches, marketing, compliance, lending, IT, customer support, legal, and HR. Her vision is driven by a commitment to economic empowerment, and she leads innovative initiatives such as AI-driven financial tools and the #BankBlack movement.

Williams, who holds an MBA from Harvard Business School and a BA from Brown University, co-founded OneUnited Bank with her husband, Kevin Cohee, who serves as Chairman and CEO. Together, they transformed a struggling Boston community bank into the successful institution it is today by merging four Black-owned banks across Boston, Miami, and Los Angeles. This strategic move not only strengthened the bank’s presence but also expanded its reach and impact within Black communities.

OneUnited Bank, established during the civil rights movement of the 1960s, is the first Black digital bank and a Community Development Financial Institution (CDFI). The bank is dedicated to economic development in urban communities and offers a range of services tailored to meet the needs of its customers. These include the “Second Chance” checking account, secured credit cards for rebuilding credit, and the “Cash, Please” short-term loan program designed to replace predatory lending practices.

The bank's mission goes beyond traditional banking by focusing on fostering generational wealth through financial education, innovative banking technology, and partnerships with corporations like Netflix. Over 70% of OneUnited’s lending goes directly into the community, with near-zero credit losses, highlighting its commitment to financial empowerment and responsible lending.

During the interview, Teri shared valuable insights on overcoming systemic barriers, such as the 30% lower homeownership rate in Black communities compared to white households. She emphasized the importance of financial literacy as a core value, stating, “We’re teaching our community to speak in our authentic voice and value our experiences.” Initiatives like the OneTransaction Virtual Conference held on Juneteenth provide actionable steps for wealth-building, from homeownership to improving credit scores.

Rob Wilson’s engaging questions highlighted Teri’s passion for making banking a tool for change, inspiring listeners to take control of their financial futures. His work as a financial advisor and motivational speaker continues to inspire communities, blending financial expertise with practical life advice.

For those interested in learning more about OneUnited Bank, follow them on Instagram (@OneUnitedBank), Twitter (@OneUnited), and Facebook (@OneUnitedBank) for financial tips, community updates, and information on their BankBlack® Card. Visit their website, www.oneunited.com, to explore banking services, blogs on financial wellness, and ways to join the #BankBlack movement.

Tune in to the Wake Up with Dee Morning Show weekdays from 6:00 AM to 10:00 AM on News & Talk WAOK. Stream online via the Audacy app, iHeartRadio, or TuneIn apps, available on mobile devices, tablets, or smart speakers. With Audacy’s "Enhanced Rewind" feature, you can revisit key moments of the episode anytime.

Connect with guest host Rob Wilson, a renowned financial advisor and motivational speaker, on Instagram (@iamrobwilson), Twitter (@iamrobwilson), and his website, www.iamrobwilson.com, where he shares strategies for wealth-building and personal growth. A frequent contributor to WAOK, Rob has been a transformative voice as a talk-show host, inspiring listeners with his “Life Changer” segments that blend financial expertise with practical life advice, empowering communities to achieve financial freedom and success.