Black-owned bank one-person partner has a credit building technology platform to make homes easier for renters to use

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In honor of Financial Literacy Month, Oneunited Bank, the largest black-owned bank in the United States, worked with fintech leader Esusu to help renters build credit and move it further into the home ownership step. An innovative partnership turns rents into a powerful financial authorization tool that will allow a partner to report on-time rental payments to all three major credit bureaus, a process that is proven to improve credit scores and help renters qualify for eligible mortgages. The results speak for themselves – tenants using the ESUSU platform saw their credit scores rise by an average of 45 points, with more than 200,000 people establishing credit scores for the first time. “This alliance is to give renters the power to turn their home ownership dreams into a reality,” said Teri Williams, president and chief operating officer of Oneunited Bank. “We are proud to continue our mission to close wealth gaps and promote long-term financial situations.” For Esusu, the partnership represents a milestone: their first collaboration with banking institutions. Fintech, co-founded by Wemimo Abbey and Samir Goel, has provided over $50 billion in credit activity to underserved communities through its technology and financial literacy tools for rent reporting. “Financial knowledge is the key to achieving stability,” Abbey and Goel said in a joint statement. “This collaboration is about equiping renters with the knowledge and tools to change their financial futures.” Renters will now have access to OneUnited Bank's suite of AI-driven financial solutions through the Esusu app, creating a seamless experience that not only tracks rent but turn it into something much more valuable — a foundation for wealth building.Like this:Like Loading…Discover more from Baller AlertSubscribe to get the latest posts sent to your email.

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