Featured Savings Rates
Featured Accounts

OneUnited Bank

Popular Accounts at this Bank

0.90%1-year CDUNITY Gold 1 Year E-CD
0.20%SavingsUNITY E-Style Savings
1.30%4-year CDUNITY Gold 4 Year E-CD

Overview / Commentary
100 Franklin St
Boston, MA 02110

OneUnited Bank prides itself on being the nation’s first Black internet bank and, at the time of this writing, the largest Black-owned bank in the United States. Headquartered in Boston, MA, the bank was originally established in 1982 as the Boston Bank of Commerce. It changed its name to OneUnited Bank in 2002, and opened its internet “branch” in 2006.

The bank focuses on gathering deposit funds in order to provide mortgage loans to urban communities. OneUnited therefore offers its personal banking customers checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). The bank provides both interest and non-interest-bearing checking accounts, including a checking account for those with poor ChexSystems reports. OneUnited’s savings and money market accounts offer better interest rates for higher account balances, and their CD terms range from 90 days to 4 years. IRAs are available as CDs, with the same range of terms. OneUnited offers its customers convenient and secure access to their funds through online and mobile banking. It also provides access to online bill payment services.

OneUnited Bank also provides business checking accounts, business savings accounts, business money market accounts, and business CDs. The business checking, savings, and money market accounts can be linked together to avoid monthly fees.

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Reviews (3)

Great rates

I opened a checking, savings, and CD account with One United Bank about six months ago. Was looking to get away from the large commercial banks. I opened the accounts online. It was challenging to get everything set up. I called with a difficulty regarding my payroll direct deposit. They told me they couldn't help me because I opened the account online. I then needed to email them to resolve the issue. It was a bit of a hassle. Once everything was changed over and set up, all has been fine. I use their online banking to pay bills which is very convenient. I deposit checks using their mobile banking app. Their rates are pretty good for savings and CDs. Overall I'm happy with the change and would recommend this bank to anyone who's open to it taking a bit of time to set up the checking account.

Average. What I Expected

You need to read all of their disclosures. They use a 3rd party to process their credit cards similar to many other small banks or credit unions. They approved me quickly but it still took about 30 days for the card to get to me. They do not have a minimum credit score but you must be able to afford it so they ask for your income and payments. They do not offer online debit, credit or checking to pay your bill. You have to use US Mail or your Banks bill pay system to make a payment. You have to mail them to the address on the statement which is in Tampa, Florida and most likely a payment processing center (3rd party). If you send it any where else it will be delayed or lost. The customer service people work for the 3rd party processor and not the bank.

Bad Business

Posted by: r4rene | Feb 13, 2012

This Bank will Rob you of money.  They will change the account structure without contacting you and deduct your money stating the account has changed.  Try calliing them and you get the run-around.  When you finally get someone to help you, then you get the bad news.... 


What can you do about it now, there is no local branch to go visit...  Your money gone.  I suggest you avoid this money trapp all together.  Easy to get your money hard as heck to get it out.


Health Grade Components

FDIC Certificate #23966
Year Established1982
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.12%
Return on Equity - YTD-1.65%
Annual Interest Income$11.6MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$648.1MM$632.4MM
LoansQ2 2017vs Q2 2016$472.9MM$441.1MM
DepositsQ2 2017vs Q2 2016$375.0MM$369.4MM
Equity CapitalQ2 2017vs Q2 2016$48.0MM$49.7MM
Loan Loss AllowanceQ2 2017vs Q2 2016$2.8MM$2.7MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$8.1MM$11.0MM
Real Estate OwnedQ2 2017vs Q2 2016$0$3.0MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

OneUnited Bank Savings Account Rates

0.60%*$100k*-UNITY E-Gold Savings - Internet
OTHER TIERS: 0.40% $1k - $25k | 0.50% $25k - $100k
0.60%*$100k*-UNITY E-Gold Savings
OTHER TIERS: 0.40% $1k - $25k | 0.50% $25k - $100k
0.20%$100-UNITY Savings
0.20%$1k-UNITY Choice Savings
0.20%$100-UNITY Plus Savings
0.20%$100-UNITY E-Style Savings - Internet
0.20%$100-UNITY E-Style Savings
0.05%--UNITY Youth Savings

OneUnited Bank Money Market Rates

0.20%*$25k*-UNITY Money Market
OTHER TIERS: 0.05% $500 - $25k
0.05%$1k-UNITY Choice Money Market

OneUnited Bank Checking Account Rates

0.40%$100-UNITY E-Gold Checking
0.40%$100-UNITY E-Gold Checking - Internet
0.20%$100-UNITY Gold Checking
0.05%$100-UNITY Business Checking
0.05%$100-UNITY Non Profit Checking

OneUnited Bank CD Rates

1.65%$100k-UNITY Jumbo 42 Month CD
1.35%$100k-UNITY Jumbo 30 Month CD
1.30%$1k-UNITY 4 Year CD
1.30%$1k-UNITY Gold 4 Year E-CD
1.20%$1k-UNITY 3 Year CD
1.10%$100k-UNITY Jumbo 15 Month CD
1.05%$1k-UNITY 2 Year CD
1.05%$1k-UNITY Gold 2 Year E-CD
1.00%$1k-UNITY 18 Month CD
0.90%$1k-UNITY Gold 1 Year E-CD
0.55%$1k-UNITY 270 Day CD
0.20%$1k-UNITY 90 Day CD
0.20%$1k-UNITY Gold 120 Day E-CD

OneUnited Bank IRA Rates

1.30%$1k-UNITY 4 Year IRA CD
1.20%$1k-UNITY 3 Year IRA CD
1.05%$1k-UNITY 2 Year IRA CD
0.55%$1k-UNITY 270 Day IRA CD
0.20%$1k-UNITY 90 Day IRA CD

OneUnited Bank Locations
Crenshaw Branch3683 Crenshaw BoulevardLos Angeles, CA 90016
79th Street Branch3275 N.W. 79th StreetMiami, FL 33147
Oneunited Bank100 Franklin StBoston, MA 02110
Roxbury Branch2343 Washington StreetBoston, MA 02108
Grove Hall Branch648 Warren StreetDorchester, MA 02121