Leading a Bold Financial Vision for Black Communities
Teri Williams is on a mission to change the face of banking in America. As president and chief operating officer of OneUnited Bank, the nation’s largest Black-owned bank, she has helped finance nearly $1 billion in loans for low- to moderate-income communities across the country. Her leadership has fueled economic growth in neighborhoods like South Central Los Angeles, Compton, and Liberty City in Miami.
Her work is deeply personal. Williams often credits her great-grandmother, a Black entrepreneur in segregated Florida, for inspiring her belief that everyone deserves control over their financial future. That legacy now drives a movement to close a racial wealth gap that, according to a 2024 Federal Reserve study, stands at $240,000 between the median Black and white household.
“The work I do now is meaningful to me,” Williams told Brown University earlier this year. “We’re helping to make financial literacy a core value, particularly in Black communities.”
From Corporate Banking to Community Power
Williams’s journey began in 1995 when she left a successful career at American Express. At the time, she was the youngest vice president at the company. A family friend told her about an opportunity at Boston Bank of Commerce, a historic Black-owned bank founded in 1962. She saw a chance to bring her corporate expertise to a mission that served her community.
Together with her partner Kevin Cohee, Williams acquired the bank, then purchased three more Black-owned banks over the years. The acquisitions formed OneUnited Bank, a powerful national brand rooted in Black economic empowerment. Today, the bank has a valuation of $700 million and serves about 100,000 customers, 80% of whom are Black.
This bold move was more than a business decision. It was a response to decades of exclusion from mainstream financial systems that left many Black Americans without fair access to banking services.
Innovative Banking Products Built for Real People
To meet these needs, OneUnited has launched several financial products designed to remove traditional barriers. Programs like the “Second Chance” checking account give people with a troubled banking history a fresh start. The secured credit card helps customers rebuild their credit, opening the door to more financial opportunities.
The bank also created “Cash, Please,” a short-term loan program that offers affordable alternatives to predatory check-cashing stores, which can charge interest rates as high as 400%. Additionally, an AI-powered financial tool now helps customers make smarter money decisions. According to Williams, the feature has been “a big hit.”
Her popular “Teri Talks” series on Instagram provides free financial education directly to thousands of followers. Through these conversations, she breaks down money management in simple, practical terms, making banking more personal and accessible.
Building a Legacy Beyond the Bank
Williams’s influence goes far beyond her leadership at OneUnited. She founded the Black Economic Council of Massachusetts and serves on the boards of CCC Intelligent Solutions and the Boston Foundation Racial Wealth Gap Partnership. Her work across these platforms focuses on economic justice and financial inclusion.
She is also the author of I Got Bank! What My Granddad Taught Me About Money, a financial literacy book for young readers. Through her writing and public engagement, Williams aims to inspire the next generation of Black entrepreneurs, homeowners, and wealth builders.
Her story proves that banking can be more than numbers. It can be a tool to build legacies, strengthen communities, and reshape the future of financial power in America.
