Financial literacy conference, scheduled for Juneteenth, aims to close racial wealth gap

Posted at 1:09 PM, Jun 17, 2021

For Juneteenth, one company is looking to give back by addressing one of the biggest issues still impacting Black people today -- the racial wealth gap.

The median net worth of a Black family is just over $17,000 compared to $171,000 for a white family, according to the Brookings Institution.

Kevin Cohee, CEO of OneUnited Bank, says the economic effects on the Black community are a harsh reminder of the long-term impact of slavery, Jim Crow laws and redlining.

"Black Americans are held back," Cohee said. "You can call them, call us, economic slaves in a sense, where our lives are dominated and limited by access to economic opportunity."

Cohee and OneUnited Bank, which is the largest Black-owned bank in America and first Black-owned digital bank, are hosting a virtual financial literacy conference on Juneteenth called "OneTransaction." The free conference aims to guide attendees to financial success.

"The fact that we're talking about Juneteenth and freedom, there is no freedom without economic empowerment," Cohee said. "They are connected."

OneTransaction will be held from 1 p.m. to 6 p.m. Saturday, June 19, with featured speakers including CEOs, financial correspondents, authors, professors and award-winning actors.

To sign up, click here.