Latest / The Steve Harvey Morning Show / Financial Tips: OneUnited Bank mission is to provide affordable financial services in urban communities nationwide.

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Financial Tips: OneUnited Bank mission is to provide affordable financial services in urban communities nationwide. · The Steve Harvey Morning Show

• 0:05
  Speaker 1: Welcome to the show. I am Rashan McDonald, the host
• 0:08
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• 0:28
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• 0:31
  Speaker 1: Money Making Conversations Masterclass. Hi, I'm Rushan McDonald, our host
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• 0:58
  Speaker 2: My next guest.
• 0:59
  Speaker 1: He's the owner, chairman, and chief executive officer of One
• 1:03
  Speaker 1: United Bank, the largest black owned bank and the first
• 1:07
  Speaker 1: black owned internet bank in America. The bank has consistently
• 1:11
  Speaker 1: been profitable and achieved a compound growth rate on this
• 1:14
  Speaker 1: common equity of over thirty five percent. Please welcome to
• 1:18
  Speaker 1: the Money Making Conversations Masterclass. Kevin coohe how you doing.
• 1:22
  Speaker 3: Kevin, great man? Thanks for having me.
• 1:25
  Speaker 1: First of all, you know when I heard an opportunity
• 1:29
  Speaker 1: to being able to interview you. We met way back
• 1:32
  Speaker 1: when I was managing Steve Harvey and the Los Angeles
• 1:35
  Speaker 1: and between two thousand and two thousand and five, I
• 1:38
  Speaker 1: was aware of the United Bank brand, and as we've
• 1:42
  Speaker 1: grown over the years, Talker, tell us about that journey,
• 1:45
  Speaker 1: because it's something you launched in nineteen ninety six and
• 1:49
  Speaker 1: then in twenty sixteen, it.
• 1:51
  Speaker 2: Kind of like jumped off.
• 1:53
  Speaker 1: Now we know for a fact that in the brown
• 1:58
  Speaker 1: and black communities banks don't exist.
• 2:03
  Speaker 4: Tell me your story, yes, okay, Well my story is
• 2:07
  Speaker 4: really a story.
• 2:08
  Speaker 3: Of Black America.
• 2:10
  Speaker 4: The concept of creating a national black on bank is
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  Speaker 4: not something that I created. Far greater men than me
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  Speaker 4: came up with this idea of going all the way
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  Speaker 4: back to slavery, people like Booker T. Wasshington as an example,
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  Speaker 4: WB du Bois. As different as they were as leaders,
• 2:29
  Speaker 4: they both talked about the importance of a national Black
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  Speaker 4: on bank. No less than Martin Luther King in his
• 2:37
  Speaker 4: I Have a Dream speech, talked about the importance of
• 2:41
  Speaker 4: a national Black on bank. These leaders recognized and believed
• 2:46
  Speaker 4: that one of the very important elements of successfully integrating
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  Speaker 4: Black Americans into a capitalistic society was to have an
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  Speaker 4: institution that had access to the payment system that can
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  Speaker 4: serve this central role of what they would call garnering
• 3:03
  Speaker 4: the economic spending power of both Black America and its
• 3:08
  Speaker 4: allies and then re channeling those resources, those economic resources
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  Speaker 4: into our communities to help us grow. So this, this concept,
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  Speaker 4: this mission literally has existed since slavery. We're just a
• 3:23
  Speaker 4: group of people who who were chosen, if you will,
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  Speaker 4: to execute this mission of creating a national black owned bank.
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  Speaker 4: The original concept of the bank was to buy up
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  Speaker 4: all the small black owed banks around the country and
• 3:40
  Speaker 4: pull them together and create one United bank. So we
• 3:44
  Speaker 4: bought a bank in Boston, bought a bank in Miami,
• 3:47
  Speaker 4: bought two banks in Los Angeles, and we're four acquisitions
• 3:52
  Speaker 4: deep into what an investment banker would call a roll up.
• 3:56
  Speaker 4: And then we had this epiphany, or maybe this epiphany
• 3:59
  Speaker 4: had at us, depending on how you want to think
• 4:01
  Speaker 4: about it. But we looked up and said, oh man,
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  Speaker 4: this thing called technology is going to completely change financial
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  Speaker 4: services as we know it. Why these things, okay, phones,
• 4:16
  Speaker 4: so cell phone, computers, period. In other words, starting with
• 4:20
  Speaker 4: the way people want to receive their financial services these days.
• 4:24
  Speaker 4: They don't want to drive down the street and around
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  Speaker 4: the corner and stand in line, no matter how good
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  Speaker 4: you don't not save. They have an expectation of getting
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  Speaker 4: all their financial information right now, seven days a week,
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  Speaker 4: twenty four hours a day, and they expect to be
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  Speaker 4: able to spend money all across the world and get
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  Speaker 4: it back for free anywhere in the United States. So
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  Speaker 4: that's one part of it, how banking services are delivered,
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  Speaker 4: in people's expectation, how they get them. And then the
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  Speaker 4: second thing is this thing called technology, whether it's that
• 4:57
  Speaker 4: aggregation where it's artificial intelligence, have allowed for the creation
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  Speaker 4: of a whole new generation of banking products that are
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  Speaker 4: completely different than anything that has existed previously. For example,
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  Speaker 4: what we're doing is we're moving from what they call
• 5:13
  Speaker 4: utilitarian banking products, something like a checking account as an example.
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  Speaker 4: It's a utilitarian product. And what that does is it facilitation.
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  Speaker 4: You spend the money by writing checks. But you take
• 5:24
  Speaker 4: like one United Banks lead product, which is called wise one.
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  Speaker 4: What wise one does is it users data aggregation technology
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  Speaker 4: to pull together all of a person's financial information, no
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  Speaker 4: matter where it is, not just what's in the bank,
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  Speaker 4: but all their financial information.
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  Speaker 3: So for the first.
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  Speaker 4: Time, many people actually understand on a real time basis
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  Speaker 4: where they are, what their assets are, what their liabilities are,
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  Speaker 4: what their network they're like there is, what the revenues are,
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  Speaker 4: what their spenses are, so what the surplus and definity
• 5:56
  Speaker 4: that the case may be. And most importantly, we've gamified
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  Speaker 4: them understanding how the cash loans, so in other words,
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  Speaker 4: when is the money coming in, when is the money
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  Speaker 4: going out, and what that means. And so if you
• 6:09
  Speaker 4: think about what I just described to you, for the
• 6:12
  Speaker 4: first time people have the ability to actually understand where
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  Speaker 4: they are. Then our artificial intelligence technology takes that information.
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  Speaker 4: And by the way, we've been working on AI for
• 6:23
  Speaker 4: over a decade, right okay, takes that You're not just coming.
• 6:27
  Speaker 2: To the party right now, you've been ahead of the party.
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  Speaker 3: Man. We try to say we are at the party.
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  Speaker 2: Come on, Garrett, tell the truth. One United Bank.
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  Speaker 3: There you go.
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  Speaker 4: So so we we you know, a lot of times
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  Speaker 4: people don't think about black owned companies as participating in
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  Speaker 4: technologies like artificial intelligence. We fully implemented our official intelligence
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  Speaker 4: and to vote our operation and our products.
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  Speaker 3: But just to finish this point quickly, so.
• 6:54
  Speaker 4: What we used AI to do is to take people's
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  Speaker 4: information and to help them make their decisions. So that's
• 7:02
  Speaker 4: really the key to it. So you know, as you know,
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  Speaker 4: as you talked about, we live in a society that
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  Speaker 4: is challenged from a financial literacy standpoint. Ninety percent of
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  Speaker 4: our population is not financially literate unfortunately. I mean, we
• 7:18
  Speaker 4: know why. We don't teach financial literacy in schools, so
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  Speaker 4: K through twelve we don't teach financial literacy. So it'd
• 7:24
  Speaker 4: be like if we didn't teach reading. If we didn't
• 7:27
  Speaker 4: teach reading, well, guess what, we have a bunch of
• 7:29
  Speaker 4: people who can't read. Instand which we have most of
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  Speaker 4: our population is not capable of making financially literate decisions.
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  Speaker 4: The good news, technology, in particularly artificial intelligence, creates the
• 7:45
  Speaker 4: opportunity to now for anybody to get to effectively make
• 7:51
  Speaker 4: the decisions like they were an expert or a profession.
• 7:55
  Speaker 1: You brought up the concept from one day United Bank
• 7:58
  Speaker 1: buying up black banks around the an't you the same
• 8:01
  Speaker 1: format and no different than the Bank of America, no
• 8:03
  Speaker 1: different than the World's Foggo or any of your competitors,
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  Speaker 1: not being a black bank. It's a trust factor, is
• 8:09
  Speaker 1: a brand awareness factor. How do you break that battery?
• 8:12
  Speaker 1: As one United Bank when you're trying to bring in
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  Speaker 1: customers and your new start or a new kid on
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  Speaker 1: the block.
• 8:19
  Speaker 4: Well, you're starting with you have. Okay, what we like
• 8:23
  Speaker 4: to say those banks that you mentioned, uh, Chase and
• 8:28
  Speaker 4: Wells Fargo and all them, what we say is we're
• 8:31
  Speaker 4: fdic ensued commercial bank like them. The only difference is
• 8:35
  Speaker 4: we're smarter and we have better technology.
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  Speaker 3: There you go.
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  Speaker 4: Other than that, they just like us. We're just smarter
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  Speaker 4: than so and so and so forth. So our products
• 8:47
  Speaker 4: start with our products. And one of the reasons we
• 8:50
  Speaker 4: have really good relationships with banks, and banks love One
• 8:54
  Speaker 4: United Bank is because they know they can't do the
• 8:56
  Speaker 4: kind of things we can do. For exam, one of
• 9:00
  Speaker 4: our lead products is called cass Please. Now, what cash
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  Speaker 4: Please does is for those situations where where some kind
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  Speaker 4: of the average American only has four hundred dollars in
• 9:11
  Speaker 4: emergency savings. Right, Okay, So let's start with that. So
• 9:14
  Speaker 4: let's say something happens, you're driving your truck to work,
• 9:17
  Speaker 4: you hit a pothole. Bang, you got an eight hundred
• 9:19
  Speaker 4: and fifty dollars bills in here.
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  Speaker 3: You need this truck to get to work. So you
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  Speaker 3: you need what what do you need?
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  Speaker 4: You need an emergency small balance short term loan at
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  Speaker 4: affordable prices. In other words, you don't you need to
• 9:34
  Speaker 4: be able to get your truck fixed without being goalsed
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  Speaker 4: and taken in by some kind of financial trap. Well,
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  Speaker 4: one United Bate can deliver that loan on a nationwide
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  Speaker 4: basis and uses alternative credit criterion other than just these
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  Speaker 4: these these credit bureaus and stuff, which are dated technology. Right,
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  Speaker 4: So if base aren't build to solve the kind of
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  Speaker 4: problems that people have, what do I mean a people problem?
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  Speaker 4: You stuck in check systems? You need a second chance
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  Speaker 4: to get a check in account. That's the one United
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  Speaker 4: Bate product. You messed up your credit things having the people,
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  Speaker 4: particularly when you have low amounts of resources, so you
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  Speaker 4: need to rebuild your credit.
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  Speaker 3: That's the one United Bank product.
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  Speaker 4: You need to build emergency savings, perhaps on a collaborative
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  Speaker 4: basis with somebody like your employer, which is one of
• 10:29
  Speaker 4: our big areas expertise to help you build savings accounts.
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  Speaker 4: So what I'm saying to you is we have completely
• 10:36
  Speaker 4: different financial products than mainstream base and we have the
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  Speaker 4: products that people actually need to function in day to
• 10:44
  Speaker 4: day's society. Like I just told you about a product,
• 10:47
  Speaker 4: a black owned business created a product that utilizes artificial
• 10:52
  Speaker 4: intelligence to help people, and we're designed in particularly for
• 10:57
  Speaker 4: black people to make better financial.
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  Speaker 2: Is i'ma tell you something. You're fired up now.
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  Speaker 1: I like that, Carvin, because you you get frustrated like
• 11:04
  Speaker 1: me and this I wouldn't say the word frustrated, but
• 11:06
  Speaker 1: it's about the information because of the fact that Blacks
• 11:09
  Speaker 1: are always viewed as being behind the curve on technology,
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  Speaker 1: being hind the curve on financial literacy. You said, Rashaan,
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  Speaker 1: we got the model. We're winning with one United Bank. Now,
• 11:20
  Speaker 1: because you go to any black community and those check
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  Speaker 1: cashing places are still dominant.
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  Speaker 2: How can you help.
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  Speaker 1: The black community with one United Bank to avoid those
• 11:31
  Speaker 1: outrageous fees and how can they do banking with one
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  Speaker 1: United Bank?
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  Speaker 4: You go, you go to one United dot com. It's
• 11:38
  Speaker 4: that O N E U N.
• 11:41
  Speaker 2: I T E any anywhere you can be down.
• 11:45
  Speaker 4: D C d C Detroit, Philadelphia, Boise, Idaho, which, by
• 11:51
  Speaker 4: the way, we have a lot of customersis for reasons.
• 11:55
  Speaker 4: L Paso, Texas, Dallas, Texas, Los Angeles, GOP. It doesn't matter.
• 12:00
  Speaker 4: There you are and I'll give you just just because
• 12:03
  Speaker 4: here again, you know, you know, hopefully it doesn't seem
• 12:07
  Speaker 4: like frustration. But but we want people to understand you
• 12:11
  Speaker 4: you don't have to go to these check cashers and
• 12:13
  Speaker 4: get ripped off. You just go to my United but
• 12:16
  Speaker 4: dot com we are set up to be able to
• 12:19
  Speaker 4: accommodate these types of situations and so and so and
• 12:25
  Speaker 4: so here again.
• 12:26
  Speaker 2: Let me ask you this.
• 12:26
  Speaker 1: Let me ask you this, Kevin, because I don't want
• 12:28
  Speaker 1: to put the word frustration in it, but you know
• 12:30
  Speaker 1: you're trying to get the worried out. You have something
• 12:31
  Speaker 1: available that people are not using because they're not aware
• 12:34
  Speaker 1: of the brand that you're offering at one United one
• 12:37
  Speaker 1: United Bank. Now, how does this as an individual who's
• 12:41
  Speaker 1: been doing this way going to these high check cashing places,
• 12:45
  Speaker 1: you know, got a buzz to get in, You get in,
• 12:47
  Speaker 1: they treat you like a criminal even though they cash
• 12:50
  Speaker 1: in your check. How does one in that community deposit
• 12:54
  Speaker 1: their money using one United Bank even though they're not
• 12:58
  Speaker 1: going into a bank or check cash your location. I'm
• 13:01
  Speaker 1: just trying to simplify so people can understand how your
• 13:04
  Speaker 1: technology works.
• 13:06
  Speaker 4: Okay, well, why not start by asking you a question? Yes, Sir,
• 13:10
  Speaker 4: if I said to you, Rashid, if you had to
• 13:13
  Speaker 4: guess what bank in the United States has the largest
• 13:18
  Speaker 4: number of surcharged free at ms, what bank would you get?
• 13:22
  Speaker 4: Now before you before you answer that, let's just say
• 13:28
  Speaker 4: you don't CEO right right right, right, right, right, right right.
• 13:31
  Speaker 3: And it's just a good looking black guy.
• 13:33
  Speaker 2: Right, we're beautiful teeth. We're beautiful teeth. I want to
• 13:41
  Speaker 2: say one year, Nited Bank, Sir, we have the.
• 13:48
  Speaker 4: Largest number joint free ATMs from any bank. Now it's
• 13:53
  Speaker 4: because of the network we we have built. So we're
• 13:56
  Speaker 4: tied into a number of institutions like you can use
• 14:00
  Speaker 4: any your one United Bank customer, you can use like
• 14:03
  Speaker 4: city based ATMs, you can use JP Morgan's ATMs, as
• 14:08
  Speaker 4: well as the whole host of of everything from dollar
• 14:12
  Speaker 4: store type type situations to too many retailers. Because we
• 14:17
  Speaker 4: we created collaborations. See where we have created the bank.
• 14:21
  Speaker 3: Of the future.
• 14:22
  Speaker 4: Right, So, so the banking the bank is built on collaborations,
• 14:27
  Speaker 4: it's built on technology, and and so and so it's
• 14:32
  Speaker 4: in the modern day world. Here again, banking was this
• 14:36
  Speaker 4: thing we grew up with which was based before technology.
• 14:42
  Speaker 4: So it was physical. You have a physical facility, you
• 14:46
  Speaker 4: place physical bills into the thing, you go sit there
• 14:49
  Speaker 4: and you talk to the tellers and all of that. Well,
• 14:52
  Speaker 4: technology technology like so many things, and it's one of
• 14:56
  Speaker 4: the more important things for us as a people is
• 14:59
  Speaker 4: to recognize how technology has changed business opportunity.
• 15:05
  Speaker 3: Look at you.
• 15:06
  Speaker 4: You communicating to the to the whole world rightly, and
• 15:10
  Speaker 4: you certainly communicating to the whole United States. And this
• 15:14
  Speaker 4: isn't about where Rashad is at this moment. Frankly, where
• 15:18
  Speaker 4: Rashad is at this moment is not. What's important is
• 15:23
  Speaker 4: the content right that you're providing and understanding how to
• 15:27
  Speaker 4: distribute that contest on a widespread basis. Here again, the
• 15:32
  Speaker 4: thing about what United Bank other things that makes it
• 15:34
  Speaker 4: youth unique is one United Bank affects tens of millions
• 15:38
  Speaker 4: of people.
• 15:40
  Speaker 2: I want to hear.
• 15:41
  Speaker 3: That's why you see it's.
• 15:42
  Speaker 4: It's it's The reason is it's an important institution in
• 15:48
  Speaker 4: Black America is because of both its brand recognition, but
• 15:52
  Speaker 4: it's reach.
• 15:53
  Speaker 3: It can reach anybody anywhere.
• 15:56
  Speaker 4: So when something happens like the George Floyd thing, you
• 16:00
  Speaker 4: think he's inundated with phone calls because we got we're
• 16:03
  Speaker 4: Black America's banks, So we have to sit there and
• 16:05
  Speaker 4: hold people's hands, water, sit there and hold their hands
• 16:08
  Speaker 4: through moments of crisis, that kind of thing, and so
• 16:11
  Speaker 4: and so. So it's not just us having the problem
• 16:15
  Speaker 4: using technology to create this new generation of products that
• 16:19
  Speaker 4: meets people's knees. It's also our ability to communicate effective
• 16:23
  Speaker 4: related to hundreds of millions of people to reach that.
• 16:27
  Speaker 5: Please don't go anywhere. We'll be right back with more
• 16:30
  Speaker 5: Money Making Conversations Masterclass. Welcome back to the Money Making
• 16:41
  Speaker 5: Conversations Masterclass, hosted by Rashaan McDonald.
• 16:46
  Speaker 1: Well, you know it's important people here. What Kevin is
• 16:48
  Speaker 1: trying to say, oh is saying. He's not trying, He's
• 16:51
  Speaker 1: motivated to tell you how you can change your life
• 16:54
  Speaker 1: through technology. That was one United Bank was at the
• 16:57
  Speaker 1: forefront of that, at the forefront of AI. More importantly,
• 17:01
  Speaker 1: what I wanted him to say, and he said it
• 17:03
  Speaker 1: very accurately, is if you are in a community and
• 17:07
  Speaker 1: you don't have a bank. You now have a bank,
• 17:09
  Speaker 1: and it's called One United. That bank is available to you.
• 17:12
  Speaker 1: Just go online. You can upload your checks, you can
• 17:17
  Speaker 1: have an ATM car, you can have a debit card,
• 17:20
  Speaker 1: you can have all these things that you may not
• 17:23
  Speaker 1: have right now and start you on a path of
• 17:26
  Speaker 1: building credit, building credibility with a bank, and also taking
• 17:31
  Speaker 1: you to the next stage of life, which is equity.
• 17:34
  Speaker 1: And I think that's one of the major reasons why
• 17:36
  Speaker 1: I wanted One United. Like I said, he's a gentleman.
• 17:38
  Speaker 1: I met when I was manager of Steve Harvey and
• 17:41
  Speaker 1: Los Angeles way back in two thousand. So I'm very
• 17:44
  Speaker 1: aware of the One United brand in the early stages
• 17:46
  Speaker 1: because there was a business that he launched in nineteen
• 17:49
  Speaker 1: ninety six, and it's a vision. It's a vision is
• 17:52
  Speaker 1: tied to success. But the beauty of Kevin is that
• 17:55
  Speaker 1: his legacy is tied to success. Your grandfather was tied
• 17:59
  Speaker 1: to the original or the real Black Wall Street.
• 18:01
  Speaker 4: Correct, Oh, absolutely right, great great great, three greats and
• 18:07
  Speaker 4: two grades were intricately involved in the creation of Black
• 18:13
  Speaker 4: Wall Street. I mean here again, you know the connection
• 18:16
  Speaker 4: accords because a lot of people, you know what kind
• 18:20
  Speaker 4: of what you're getting at.
• 18:21
  Speaker 3: They say, well, why would black.
• 18:23
  Speaker 4: Wall Street be in Tulsa, Oklahoma, Why would they be
• 18:26
  Speaker 4: in New York or Philadelphia or some industrial city.
• 18:30
  Speaker 3: Well, the reason is is because that is one.
• 18:33
  Speaker 4: Of the only, if not the only, place where black
• 18:37
  Speaker 4: people and Indians by the way, got the proverbia forty
• 18:41
  Speaker 4: acres and a mule.
• 18:44
  Speaker 3: As you know, slavery ended.
• 18:46
  Speaker 4: It wasn't like white people were gonna say, oh, slavery ended, Hey,
• 18:49
  Speaker 4: why don't we all sing Kumbai Yai and come together
• 18:53
  Speaker 4: and live together and all that. They were just saying,
• 18:55
  Speaker 4: you free. But then then then we were separated to
• 19:00
  Speaker 4: different groups, and one of the groups was Oklahoma. One
• 19:04
  Speaker 4: of the ideals of what to do with slaves in
• 19:06
  Speaker 4: Indians was to send them to Oklahoma. That group of
• 19:09
  Speaker 4: people then ultimately negotiated a deal with the United States government,
• 19:15
  Speaker 4: which was that negotiation was led by my great great grandfather,
• 19:20
  Speaker 4: that resulted in them getting forty acres, getting the proverbial
• 19:24
  Speaker 4: forty acres at the mule. And at that point in
• 19:27
  Speaker 4: a in a argarian society, that land was what you
• 19:31
  Speaker 4: could feed yourself off your land. You could you could
• 19:35
  Speaker 4: make some access, you can make some profits by selling
• 19:38
  Speaker 4: your access goods that you grow on the land, and
• 19:42
  Speaker 4: so so so think of it and land as being
• 19:45
  Speaker 4: the center of wealth creation. And it's that wealth that
• 19:51
  Speaker 4: allowed for the building of this of this of this
• 19:54
  Speaker 4: area of this town we now called black Wall Street.
• 19:58
  Speaker 4: That's why we could afford to have stores, can have
• 20:00
  Speaker 4: Rashank could have a store.
• 20:02
  Speaker 3: If I got some land where.
• 20:04
  Speaker 4: I'm growing corn and then I grow, you know, more
• 20:07
  Speaker 4: corn than I need to beat my family, then I
• 20:09
  Speaker 4: can take it down the Russian store, and then Roshine
• 20:12
  Speaker 4: can sul it to somebody else who is doing you know,
• 20:15
  Speaker 4: who's in some other kind of business but needs the corn.
• 20:19
  Speaker 3: That's example.
• 20:20
  Speaker 4: So so you know, my family is really proud of
• 20:22
  Speaker 4: that legacy of being able to communicate with the leaders
• 20:27
  Speaker 4: of this country even back then and and and be
• 20:31
  Speaker 4: able to form a bridge between Europeans, Native Americans and
• 20:36
  Speaker 4: black people and facilitate this this thing.
• 20:40
  Speaker 3: That we now call black Ball Street.
• 20:41
  Speaker 1: Well, you know, I want to send this carrying a
• 20:43
  Speaker 1: lot of people need to understand, Like you know, that's
• 20:45
  Speaker 1: that old rumor that everybody got forty acres a mule.
• 20:49
  Speaker 1: As soon as April on Lincoln was assassinated, the next
• 20:53
  Speaker 1: president killed it.
• 20:54
  Speaker 2: They stopped it.
• 20:55
  Speaker 1: And so that's why forty acres Murro was not distributed
• 20:58
  Speaker 1: to all African Americans time. And it was fortunate in Opahomer,
• 21:03
  Speaker 1: his great great grandfather negotiated an opportunity because the opportunities
• 21:08
  Speaker 1: was not being being made available and it was being
• 21:11
  Speaker 1: denied once Abraham Lincoln was assassinated. Now, when we move
• 21:15
  Speaker 1: forward to today, you're doing your own version of forty
• 21:18
  Speaker 1: acres and through technology, that technology, your cell phone, your
• 21:23
  Speaker 1: laptop can create a lasting financial literacy of opportunity for individuals.
• 21:29
  Speaker 1: They just got to be believe in it and also
• 21:32
  Speaker 1: understand that your bank is ahead of the curve and
• 21:35
  Speaker 1: providing it for everybody.
• 21:37
  Speaker 2: Correct, Kevin One United that that.
• 21:40
  Speaker 4: That's right and you're exact, and that that technology can
• 21:43
  Speaker 4: allow for you to create unprecedented businesses.
• 21:47
  Speaker 3: See now everybody had you could, you could.
• 21:51
  Speaker 4: You don't even have to make the product anymore, right,
• 21:54
  Speaker 4: you could you could get the product like like many
• 21:57
  Speaker 4: you know, you hear about black people, business people who
• 22:01
  Speaker 4: are billionaires. As an example, they may not be making
• 22:04
  Speaker 4: the perfume or the clothing items they're selling. Most times
• 22:09
  Speaker 4: they're not. They're getting them from one place, and then
• 22:12
  Speaker 4: they're using their brands to sell them all over the world.
• 22:15
  Speaker 4: So technology creates the opportunity to create businesses in ways
• 22:20
  Speaker 4: that have never existed before. As I said, you don't
• 22:23
  Speaker 4: even have to meet the product anymore. That's the marketing opportunity,
• 22:29
  Speaker 4: that's the ability to take advantage and understand this new
• 22:35
  Speaker 4: age's There's never been a better opportunity to build a
• 22:40
  Speaker 4: substantial business enterprice than there is right now.
• 22:43
  Speaker 1: Absolutely, as we go through this process, Kevin, you're on
• 22:48
  Speaker 1: my show and obviously on my show to tell.
• 22:50
  Speaker 2: Everybody about one United Bank.
• 22:52
  Speaker 1: Tell everybody about how I don't care where you live
• 22:55
  Speaker 1: in this country. Like you said the morning Hour of Boise, Idaho, Miami, Florida,
• 23:01
  Speaker 1: you can be a customer with one United Bank. Just
• 23:04
  Speaker 1: go to one United dot com and follow the registration process.
• 23:10
  Speaker 1: As you get the worried out, how can I help
• 23:13
  Speaker 1: you sustain that consistency of people understanding the value and
• 23:19
  Speaker 1: the banking opportunities for entrepreneurs, because I shore it's about
• 23:23
  Speaker 1: small business owners, entrepreneurs, people are trying to change their careers,
• 23:28
  Speaker 1: future homeowners. Talk to us about my listening audience and
• 23:33
  Speaker 1: what value one United Bank will bring to them.
• 23:37
  Speaker 3: Well, we can change your listening audience since life.
• 23:41
  Speaker 4: Okay, our financial products and services literally change people's lives
• 23:47
  Speaker 4: in the positive way. So amongst many things here getting
• 23:50
  Speaker 4: I want to cut back this, but you know, when
• 23:53
  Speaker 4: you bank, companies are recognizing the value of one United
• 23:58
  Speaker 4: based product set and delivering that as an employee benefit
• 24:03
  Speaker 4: as an example. So so, so what I'm saying is
• 24:05
  Speaker 4: people understand that people that having the opportunity to have
• 24:11
  Speaker 4: this type of services really affects people's lives in a
• 24:15
  Speaker 4: positive way. What I'm seeing is you're an expert communicator,
• 24:20
  Speaker 4: right and and the communication of that message to particularly
• 24:24
  Speaker 4: the communication of that message is scale. Is how you
• 24:28
  Speaker 4: sell product and service, particularly in this technology driven age.
• 24:33
  Speaker 4: So so that's what I'm thinking about, is i'm doing
• 24:36
  Speaker 4: this interview, I'm like, man, it's is a master communicator, Yes,
• 24:42
  Speaker 4: and and and so and so that is certainly a
• 24:46
  Speaker 4: skill set that that is very important to my business.
• 24:51
  Speaker 4: Right so, so, so you know, it was interesting.
• 24:55
  Speaker 2: I'm a biteress with you. Man. What you do is
• 24:59
  Speaker 2: I'm a fan.
• 25:00
  Speaker 1: I'm a fan, I'm a believer, and that's important for
• 25:03
  Speaker 1: you to hear that because I can't take it anymore
• 25:07
  Speaker 1: with our community not knowing how they can bank, how
• 25:12
  Speaker 1: they can compete, how it can be on the same level.
• 25:14
  Speaker 1: And that's what One United Bank is offering them. Just
• 25:18
  Speaker 1: because you're getting on the bus in the neighborhood don't
• 25:20
  Speaker 1: mean you can't financially compete with other neighborhoods. And sometimes
• 25:26
  Speaker 1: we feel trapped, and I've lived that. One United Bank
• 25:30
  Speaker 1: allows us out of that financial trap. And that's what
• 25:33
  Speaker 1: I want to keep saying over and over again. And
• 25:36
  Speaker 1: I hope I'm not overstepping when I talk about one
• 25:39
  Speaker 1: United Bank and what it can do and change financial
• 25:42
  Speaker 1: outlooks within the community and outside the community.
• 25:45
  Speaker 2: I'm not saying it's just available for people in the neighborhood,
• 25:49
  Speaker 2: but throughout the life.
• 25:50
  Speaker 1: If you're trying to buy cars, buy homes, start small
• 25:54
  Speaker 1: business loans, one United Bank offers you that. But more importantly,
• 25:58
  Speaker 1: there's a structure and there's community that does not understand
• 26:02
  Speaker 1: they can participate financially because they're trapped in an environment
• 26:06
  Speaker 1: where a bank does not exist and they don't think
• 26:10
  Speaker 1: and check cashing places dominate. That is a message I
• 26:13
  Speaker 1: want to deliver to them. The other message, Kevin, I
• 26:16
  Speaker 1: want to deliver to the small business owners and the
• 26:18
  Speaker 1: entrepreneurs and the future homeowners people trying to do business
• 26:22
  Speaker 1: with equity Opportunities. One Nation One United Bank offers that
• 26:28
  Speaker 1: as well. And I don't want like I say again,
• 26:31
  Speaker 1: I'm excited that you chose my format to bring this
• 26:34
  Speaker 1: information on because of the fact that people need to
• 26:37
  Speaker 1: hear their options where they can win. And that's what
• 26:40
  Speaker 1: I was so excited when you chose to give me
• 26:43
  Speaker 1: time to speak to you, because I can't talk to
• 26:47
  Speaker 1: anybody who can't tell me the truth. And that's all
• 26:50
  Speaker 1: you do, Kevin, is tell the truth.
• 26:53
  Speaker 3: Yeah, man.
• 26:53
  Speaker 4: And the thing is, as a people, we're so creative
• 26:59
  Speaker 4: that this to the stint that we could start to
• 27:03
  Speaker 4: understand how to utilize technology. I get example, that that
• 27:07
  Speaker 4: shirt you got on right there, it's so floped. Okay,
• 27:12
  Speaker 4: you can sell them shirts. I'm not even joking with you. Okay,
• 27:19
  Speaker 4: this is something I spent a great deal of time.
• 27:21
  Speaker 4: I'm around every every level of fashion that is available.
• 27:27
  Speaker 4: And what I'm saying to you is our people are
• 27:31
  Speaker 4: so talented in so many ways that that that that
• 27:35
  Speaker 4: that there's all kinds of products and services that we
• 27:39
  Speaker 4: could easily be selling if we took the time to
• 27:43
  Speaker 4: understand something like the internet, but what it really goes to,
• 27:46
  Speaker 4: and and going back to this connection to to my
• 27:50
  Speaker 4: my great grapes grandfathers is even then they one of
• 27:56
  Speaker 4: the main things they came away with what they created,
• 27:58
  Speaker 4: something called Dogs Academy and what it was because they
• 28:03
  Speaker 4: understood even then our real challenges is lack of education,
• 28:09
  Speaker 4: in particularly financial literacy. Okay, So in the eighteen hundreds,
• 28:14
  Speaker 4: the leaders of my family were talking about that and
• 28:17
  Speaker 4: how that was the main thing holding black people back
• 28:21
  Speaker 4: even then, and so and so, so this legacy that
• 28:26
  Speaker 4: that that my family has of understanding the importance of
• 28:32
  Speaker 4: financial literacy because see, so much of what you just
• 28:35
  Speaker 4: talked about goes to the person being financially literate enough
• 28:41
  Speaker 4: to understand what you just said so that they get Okay,
• 28:47
  Speaker 4: one of our biggest problems we systematically overpay for mortgages. Yes,
• 28:52
  Speaker 4: we just pay too much. Yes, why because we're not
• 28:56
  Speaker 4: financially literate? Okay, And so what so this challenge has
• 29:01
  Speaker 4: existed for Black Americans.
• 29:06
  Speaker 3: Going back to the eighteen hundreds, man, and.
• 29:08
  Speaker 4: Now our opportunity but our generation has it, has it
• 29:15
  Speaker 4: has technology, and we have the ability to be effective communicators.
• 29:22
  Speaker 4: So this thing that you and me are talking about
• 29:25
  Speaker 4: right now could change society. Okay if we could, okay,
• 29:30
  Speaker 4: use artificial intelligence so that people can make better financial decisions.
• 29:34
  Speaker 4: We're communicating that information to people so that they can
• 29:38
  Speaker 4: actually understand where they are financially and then understand, oh,
• 29:42
  Speaker 4: these are the decisions I need to be making that
• 29:45
  Speaker 4: I'm not currently making.
• 29:46
  Speaker 3: That's literally building that word.
• 29:49
  Speaker 4: And then you start to come together and for us
• 29:52
  Speaker 4: guys like you and me, frankly, what we should be
• 29:55
  Speaker 4: saying is, look, okay, we are going to make you.
• 29:59
  Speaker 4: We're not going to ask you, We're gonna meet you.
• 30:02
  Speaker 3: Okay.
• 30:03
  Speaker 4: Every state in this country should have a requirement where
• 30:07
  Speaker 4: they teach financial literacy in the school system K through
• 30:11
  Speaker 4: twelve and it's and it's a mandatory requirement to graduate
• 30:17
  Speaker 4: to be to have taken the course of financial literacy.
• 30:21
  Speaker 3: If we just did that one thing, because we have standing.
• 30:24
  Speaker 4: Look, okay, we've been oppressed, suppressed, held back for generations.
• 30:33
  Speaker 3: Okay.
• 30:34
  Speaker 4: The least we deserve, okay, is to have the opportunity
• 30:39
  Speaker 4: to effectively participate in the capitalist and system. It's not
• 30:43
  Speaker 4: okay for you not to teach our kids to be
• 30:46
  Speaker 4: financially literate. If that's not okay, okay, okay, we got
• 30:51
  Speaker 4: this education system, So what do we do. We go
• 30:55
  Speaker 4: state by state and you have legislation passed at a
• 30:59
  Speaker 4: state level to create these mandatory financial literacy classes. That alone,
• 31:05
  Speaker 4: that alone, when you talk about the racial wealth gap.
• 31:07
  Speaker 4: I'll give you an example the financial literacy program. This
• 31:11
  Speaker 4: one was designed for this county outside of Los Angelesco,
• 31:14
  Speaker 4: Riverside County. When it was when they did studies on
• 31:18
  Speaker 4: what was the economic impact of having this course of
• 31:22
  Speaker 4: study in financial literacy as part of the graduation requirements,
• 31:25
  Speaker 4: It's worked one hundred and twenty six thousand dollars per
• 31:29
  Speaker 4: kid over their lifetime. So, in other words, going from
• 31:33
  Speaker 4: a network of some people used numbers like eight dollars
• 31:36
  Speaker 4: to just doing this one thing, having them when they
• 31:38
  Speaker 4: go to school, having to take these courses and financial
• 31:42
  Speaker 4: literacy as a requirement to graduate will create over one
• 31:45
  Speaker 4: hundred thousand dollars in network or that person over their life.
• 31:48
  Speaker 2: Wow.
• 31:49
  Speaker 3: So that's the kind of thing and so and so
• 31:53
  Speaker 3: here again, you're master communicator. Man, I'm amazing.
• 31:58
  Speaker 2: I'm like this, you know, Kivid, I appreciate you. You know.
• 32:02
  Speaker 2: I just don't want everybody to know.
• 32:04
  Speaker 1: One United Bank is the premier bank for urban communities,
• 32:07
  Speaker 1: the largest black owned bank, the first black inter of
• 32:10
  Speaker 1: that bank. One United is an FDIC insured bank and
• 32:14
  Speaker 1: an equal housing lender bank. More importantly, I'm speaking to
• 32:19
  Speaker 1: the owner, chairman, chiefs ex officer of One United Bank,
• 32:23
  Speaker 1: my brother.
• 32:24
  Speaker 2: It's been twenty two years since we've said hello.
• 32:28
  Speaker 1: Please, please don't make it be another twenty two years
• 32:31
  Speaker 1: before we speak again, because I know we're talking now
• 32:34
  Speaker 1: in the fourth quarter of twenty twenty four. I want
• 32:38
  Speaker 1: to talk early early first quarter twenty twenty five. And
• 32:42
  Speaker 1: let's put a plan together, man, I find financial literacy
• 32:45
  Speaker 1: plan together about letting people know there's a bank out
• 32:49
  Speaker 1: there that's available for them that will change their lives.
• 32:53
  Speaker 2: They just need to know about it. Thank you Kevin
• 32:55
  Speaker 2: for coming on.
• 32:55
  Speaker 3: The show right. Appreciate you man. Thank you very much.
• 32:59
  Speaker 1: This has been another edition of Moneymaking Conversation Masterclass hosted
• 33:03
  Speaker 1: by me Rushaun McDonald. Thank you to our guests on
• 33:06
  Speaker 1: the show today, and thank you our listening to the
• 33:08
  Speaker 1: audience now. If you want to listen to any episode,
• 33:11
  Speaker 1: I want to be a guest on the show. Visit
• 33:13
  Speaker 1: Moneymakingconversations dot com. Our social media handle is money Making Conversation.
• 33:18
  Speaker 1: Join us next week and remember to always leave with
• 33:21
  Speaker 1: your gifts.
• 33:21
  Speaker 2: Keep winning.