Financial Tip: Discusses Black economic history, technology (AI), and wealth-building, positioning OneUnited Bank as a modern solution.

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Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Kevin Cohee.
Title: Owner, Chairman & CEO of OneUnited Bank
Host: Rushion McDonald
Podcast: Money Making Conversations Masterclass

Kevin Cohee discusses the mission, history, and future of OneUnited Bank, the largest Black‑owned bank and the first Black‑owned internet bank in the U.S. The conversation connects Black economic history, financial literacy, technology (AI), and wealth-building, positioning OneUnited Bank as a modern solution to long‑standing financial exclusion in Black and underserved communities.

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Purpose of the Interview

The interview is designed to:

1. Educate listeners on why Black-owned banks matter historically and economically.
2. Explain how technology has transformed banking, making location irrelevant.
3. Address financial exclusion, particularly reliance on check-cashing services.
4. Promote financial literacy as the foundation of wealth creation.
5. Position OneUnited Bank as a practical, accessible tool for individuals, entrepreneurs, and communities to build equity.

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Key Themes & Takeaways 1. A Mission Rooted in Black History

• Kevin Cohee frames OneUnited Bank as part of a long historical vision, not a modern trend.
• Leaders such as Booker T. Washington, W.E.B. Du Bois, and Dr. Martin Luther King Jr. all advocated for a national Black-owned bank.
• Cohee’s own family legacy ties back to Black Wall Street in Tulsa, Oklahoma, including land ownership stemming from negotiated “40 acres and a mule” outcomes.

Takeaway: Economic independence has always been central to Black progress.

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2. From Brick-and-Mortar to Digital Banking

• OneUnited originally grew by acquiring small Black-owned banks nationwide.
• The bank pivoted early toward technology-driven banking, recognizing that:
  • Customers expect 24/7 access
  • Physical branches are no longer required
  • Digital reach enables national—and global—impact

Key insight: Technology allowed OneUnited to become a national Black bank without national branches.

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3. Financial Technology Built for Real-Life Problems

Kevin Cohee emphasizes that OneUnited designs products around how people actually live, not just traditional banking norms.

Examples include:

• Second-chance checking accounts
• Emergency small-dollar loans
• Alternative credit criteria
• Nationwide surcharge-free ATM access
• AI-powered tools that help users understand:
  • Cash flow
  • Assets vs. liabilities
  • Net worth (or debt)
  • Financial decision-making in real time

Takeaway: Banking should help people function—not punish them for past mistakes.

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4. Financial Literacy Is the Real Wealth Gap

• Cohee states that 90% of Americans are financially illiterate, largely because:
  • Financial literacy is not taught in K–12 education
• He compares this to not teaching reading—and then blaming people for illiteracy.
• OneUnited uses AI and data aggregation to help customers make expert-level decisions without being experts.

Key message: Financial literacy, not income alone, determines long-term wealth.

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5. Ending Dependence on Check-Cashing Services

• Kevin sharply criticizes high-fee check-cashing businesses that dominate underserved neighborhoods.
• OneUnited offers digital check deposits, debit cards, and ATM access—removing the need for physical branches.
• Anyone, anywhere in the U.S., can bank with OneUnited via oneunited.com.

Takeaway: Lack of access is no longer an excuse—awareness is the missing link.

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6. Technology as the New “40 Acres”

• Kevin draws a powerful parallel:
  • Land ownership was once the primary source of wealth.
  • Technology and financial literacy are today’s equivalents.
• Entrepreneurs no longer need to manufacture products—branding, distribution, and digital reach are the new leverage.

Key insight: Technology levels the playing field—if people understand how to use it.

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7. Mandatory Financial Literacy as a Policy Solution

• Kevin advocates for required financial literacy courses in all U.S. schools.
• He cites research showing:
  • One required high-school financial literacy course can generate $100,000+ in lifetime net worth per student.
• He frames this as a matter of equity, not preference.

Takeaway: Systemic problems require systemic solutions.

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Notable Quotes

“The concept of a national Black-owned bank goes all the way back to slavery.”

“We’re not behind in technology—we are the party.”

“Ninety percent of Americans are not financially literate.”

“You don’t have to go to check cashers and get ripped off.”

“Technology is the new 40 acres.”

“Financial literacy alone can generate over $100,000 in net worth per person.”

“There has never been a better time to build a business than right now.”

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Overall Impact

This interview is both a financial masterclass and a historical lesson. Kevin Cohee reframes banking as a tool of empowerment, not just transactions, and positions OneUnited Bank as:

• A modern solution to historic exclusion
• A technology-first institution built for underserved communities
• A catalyst for financial literacy, entrepreneurship, and wealth creation

Final message: Access + education + technology can finally close the racial wealth gap—if people choose to engage.

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