Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Kevin Cohee.

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Purpose of the Interview

The interview aimed to:

• Highlight OneUnited Bank’s mission as the largest Black-owned and first Black-owned internet bank in America.
• Educate listeners on financial literacy, technology-driven banking, and economic empowerment in underserved communities.
• Promote OneUnited Bank’s products and services as solutions for financial challenges faced by Black Americans and others lacking access to traditional banking.

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Key Takeaways

1. Historical Context & Mission

   • The concept of a national Black-owned bank dates back to leaders like Booker T. Washington, W.E.B. Du Bois, and Martin Luther King Jr., who emphasized economic empowerment.
   • OneUnited Bank was formed through acquisitions and later pivoted to technology-driven banking.

2. Technology & Innovation

   • OneUnited embraced AI and data aggregation over a decade ago to create products that help customers understand assets, liabilities, and net worth in real time.
   • Banking has shifted from physical branches to digital platforms, enabling nationwide access.

3. Financial Literacy Crisis

   • 90% of Americans lack financial literacy, largely because it’s not taught in schools.
   • Cohee advocates for mandatory K–12 financial literacy education, citing studies showing it can add $126,000 to lifetime net worth.

4. Products Designed for Real Needs

   • CashPlease: Short-term emergency loans at affordable rates.
   • Second Chance Checking: Helps rebuild credit.
   • Savings Programs: Often in collaboration with employers.
   • These products address real-life challenges like low emergency savings and predatory check-cashing fees.

5. Accessibility & Reach

   • OneUnited offers nationwide banking via oneunited.com, surcharge-free ATMs, and partnerships with major networks.
   • Customers can deposit checks online and access services without visiting physical branches.

6. Economic Empowerment

   • Technology enables entrepreneurship without owning physical products—leveraging branding and e-commerce.
   • Cohee draws parallels between today’s tech opportunities and the historical wealth-building of Black Wall Street.

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Notable Quotes

• “We are FDIC insured, commercial bank like them. The only difference is we’re smarter and we have better technology.”
• “Technology and AI allow anyone to make decisions like they were an expert.”
• “If we taught financial literacy in schools, it would create over $100,000 in net worth per person over their lifetime.”
• “You don’t have to go to check cashers and get ripped off. Just go to oneunited.com.”
• “We’ve been working on AI for over a decade. We’re not coming to the party—we are the party.”
• “Our generation has technology and communication skills. We can change society.”

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#SHMS #STRAW #BEST

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