OneUnited Bank, the largest black-owned bank, has launched another socially conscious bank card. The Solidarity Visa Debit card, which features a raised black fist, is a way for bank users to take a stand against racism.
“The Solidarity Visa Debit Card and the bank’s other unapologetically Black Visa Debit Cards offer its new AutoSave service that automatically transfers change from card purchases to a savings account. AutoSave makes saving easier to help Black Americans build wealth,” said the bank in a press release.
This isn’t the first time OneUnited Bank has used a bank card to highlight African-American history. Previous bank cards have highlighted African kings and civil rights icon Harriet Tubman. The Tubman card, released last year, featured her making the Wakandan salute (arms raised in a cross sign.)
The card was featured on TMZ and “Saturday Night Live,” according to Kevin Cohee, OneUnited Bank president.
The timing of the Tubman card was important too. It came out during a time when the Trump administration refused to put Tubman’s image on the $20 bill, even though a poll had requested this. Cohee said the controversy and attention around the Tubman the card helped reintroduce the idea of putting her on the $20 into the public consciousness. The new Biden administration said they will move forward again by putting Tubman’s image on the $20 bill.
“We created nationwide attention for Harriet Tubman when that issue was dead,” said Cohee.
According to Cohee, OneUnited has heavily invested in online banking and financial technology services. And as a result of that, the company has prospered during the coronavirus pandemic. “We grew our business 100 percent in 2020,” said Cohee.
Tapping into Black history and socially conscious issues is an important part of OneUnited Bank’s mission. One of the bank’s current goals is to raise awareness about financial literacy.
“We’re trying to make financial literacy one of our core values,” said Cohee.
“This year, the Solidarity Card represents the importance of utilizing our newly organized community to affect positive change. The OneTransaction program is designed to educate and inspire the entire community to work together, in solidarity, to close the racial wealth gap,” said Cohee in a press release.
The bank will also hold the OneTransaction Virtual Financial Conference on June 19th (Juneteenth) that will provide information about personal finance and business creation.
According to Cohee, OneUnited has heavily invested in online banking and financial technology services. And as a result of that, the company has prospered during the coronavirus pandemic.
“We grew our business 100 percent in 2020,” said Cohee.
Cohee also said the coronavirus pandemic and the switch to online banking has reminded people of the inefficiency of cash.
“Cash is terribly inefficient,” said Cohee. “You can’t track it. It’s eventually going to go away.”