OneTransaction helps to close the Racial Wealth Gap

OneTransaction, a campaign launched by OneUnited Bank is striving to close the racial wealth gap. The campaign is based on the idea thatwealth starts with 6 transactions – homeownership, a profitable business, having a living will, life insurance, savings/investments and building credit score.

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The OneTransaction initiative encourages Black families to choose to focus on “one transaction” in 2021. The campaign also includes a personal finance Conference on Juneteenth.

BELLA Magazine was able to talk with Teri Williams, President of OneUnited Bank…

What is OneTransaction and what does it mean?

As the largest Black owned bank in America working with strategic partners such as Visa, OneUnited Bank can uplift Black communities to achieve the American Dream and close the racial wealth gap.
The OneTransaction campaign is a national effort to activate Black America to focus on one of six core transactions that, once achieved, can close the racial wealth gap. The transactions are owning a home, owning a profitable business, savings/investments, a will, life insurance and improving credit score. By focusing on “One transaction in 2021”, families will become more financially literate. Financial literacy is best improved when it is needed for a specific goal. It becomes more than an academic exercise.

How can OneTransaction influence Black Americans?

Each transaction is key to closing the racial wealth gap. OneUnited Bank wants smart conversations about money to be commonplace in the Black community.

Is there anything special about the campaign that inspires you?

Yes! The Campaign also includes a free state-of-the-art #OneTransaction Virtual Financial Conference in partnership with Visa, to be held on June 19, 2021 or Juneteenth, a holiday celebrating the emancipation of those who had been enslaved in the United States. The OneTransaction Conference includes expert presenters in business and personal finance including Tiffany Aliche, The Bugetnista, an award-winning financial education teacher, Sharon Epperson, Senior Personal Finance Correspondent for CNBC, Karen Hunter, Pulitzer Prize-winning journalist and host of The Karen Hunter Show on Sirius XM Urban View, Daymond John, globally recognized from ABC’s Shark Tank, founder and CEO of FUBU and a Presidential Ambassador for Global Entrepreneurship, Calvin Martyr, founder of #BlackOutDay2020 and The Blackout CoalitionEverett Sands, founder and CEO of Lendistry, a Black-owned SBA Preferred Lender, Michelle Singletary, personal finance columnist and author of upcoming book “What To Do With Your Money When Crisis Hits,” Kemberley Washington, CPA and Tax Analyst with Forbes Advisor with more exciting speakers to be named!

What should readers of BELLA know about the campaign?

The OneTransaction campaign is designed to change the lives of Black Americans for the financial better.

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