OneUnited Bank, one of the nation’s largest Black-owned banks, is making waves by partnering with Esusu, a credit-building platform. This collaboration aims to change the homeownership journey for renters, effectively converting their rental payments into pathways to credit improvement. This groundbreaking partnership comes just in time for Financial Literacy Month.
Empowering Renters with Financial Tools
“OneUnited Bank and Esusu’s alliance is about empowering renters with the financial tools they need to turn their homeownership dreams into reality,” says Teri Williams, President & COO of OneUnited Bank. By reporting on-time rental payments to major credit bureaus, the collaboration will simplify the credit-building process, thus paving the way for renters to achieve homeownership.
A Pioneering Collaboration
This union marks Esusu’s first collaboration with a banking institution, emphasizing the importance of using AI-driven financial solutions to support underserved communities. With this initiative, OneUnited Bank will make rent reporting available to all its customers through Esusu’s app.
“By enabling the reporting of rent payments to all three major credit bureaus, this initiative seeks to transform monthly rental costs into a pathway for increased mortgage eligibility,” say Esusu founders Wemimo Abbey and Samir Goer.
Who is Esusu?
Founded in 2018 by Wemimo Abbey and Samir Goer, Esusu aims to guide Americans on their path to financial stability. Abbey, who witnessed his mother struggle with predatory lenders in Nigeria, and Goer, who faced financial barriers as an immigrant in America, established Esusu to break down these barriers.
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