In honor of Financial Literacy Month, OneUnited Bank — the nation’s largest Black-owned bank — is teaming up with fintech leader Esusu to help renters build credit and move one step closer to homeownership. The innovative partnership turns something as routine as paying rent into a powerful tool for financial empowerment.
The collaboration will allow OneUnited customers to report on-time rent payments to all three major credit bureaus, a process that’s proven to boost credit scores and help renters qualify for mortgages down the line. And the results speak for themselves — renters using Esusu’s platform have seen their credit scores rise an average of 45 points, with more than 200,000 individuals establishing a credit score for the first time.
“This alliance is all about empowering renters with the financial tools they need to turn their homeownership dreams into reality,” said Teri Williams, President and COO of OneUnited Bank. “We’re proud to continue our mission of closing the wealth gap and promoting long-term financial health.”
For Esusu, the partnership represents a milestone: their first collaboration with a banking institution. The fintech company, co-founded by Wemimo Abbey and Samir Goel, has already helped unlock over $50 billion in credit activity for underserved communities through its rent-reporting tech and financial literacy tools.
“Financial literacy is the key to achieving stability,” said Abbey and Goel in a joint statement. “This collaboration is about equipping 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 turns it into something much more valuable — a foundation for wealth building.
Discover more from Baller Alert
Subscribe to get the latest posts sent to your email.
