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Bank of America Teams Up With Black-Owned Houston Bank to Help Underserved Businesses

Financial inclusion in Black communities is more than needed to strengthen our economic development and encourage generational wealth. That inclusion comes from the support we obtain from Black-owned banks who aim to provide resources specifically catered to our needs. Unity National Bank of Houston — the only Black-owned bank in Texas — is working to complete that mission through a new partnership with Bank of America. According to Black Business , Bank of America has acquired approximately 5 percent of the bank’s common equity, with its investment aimed at offering benefits to the communities that Unity serves through services such as lending, housing, neighborhood revitalization, and more. “Unity remains committed to the vision of providing banking services to historically underserved businesses and individuals during these trying times,” said Unity’s Board Chairman Dr. Kase L. Lawal in a statement . “Bank of America’s investment in Unity will strengthen our core community...

Oct 2, 2020