Wave Staff Report
COMPTON — OneUnited Bank, the largest Black owned bank in the country, has opened a new state-of-the-art branch here.
Teri Williams, president and chief operating officer for OneUnited Bank, was present for the grand-opening celebration at 1495 N. Wilmington Ave., Feb. 28.
“We are committing to closing the racial wealth gap in the city of Compton with our community’s long tradition of each one, teach one,” Williams said. “We believe in defining our community by our assets, rather than our challenges. … The city of Compton has many assets.”
OneUnited Bank was forced to close its original Compton branch in March 2020 after the landlord refused to renew its long-term lease in order to open a national chain sneaker store. Williams said the bank is excited to honor its roots and renew its long-term commitment to the city.
The bank will continue its support for Compton Jr. Equestrians, a group organized to serve inner-city youth in Compton and surrounding areas.
Members of Compton Jr. Equestrians attended the grand opening ceremony.