OneUnited Bank has won a $415,000 award from the U.S. Department of the Treasury’s Bank Enterprise Award (BEA) program for its community development lending. This award is the maximum amount provided to any recipient and marks the tenth time the Bank has received the honor.

"This award underscores OneUnited’s commitment to lending in underserved communities during the current economic downturn. In 2011, OneUnited Bank generated over 100 loans totaling $60 million with over 80 percent in low-to-moderate income communities, compared to only $4 million in 2009," said Kevin Cohee, chairman and CEO of OneUnited Bank, in a statement.  "We are honored by the recognition of our community development efforts."

The BEA program is administered by the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund and provides an incentive to FDIC-insured banks to expand the availability of credit, investment capital and financial services in distressed urban and rural communities. 

This year the CDFI Fund awarded nearly $18 million dollars in BEA grants to 59 banks across the country.