Newspaper Page Text
THE SPELMAN SPOTLIGHT
Features
TUESDAY, OCTOBER 7, 2003 5
Merger creates largest national
Black owned bank
Maya T. Prabhu
Features Writer
OneUnited Bank became
the nation’s largest Black-
owned bank this past January
when it announced the closing
of its merger with Family
Savings Bank, a leading Los
Angeles based minority con
trolled financial institution.
Before the merge, Boston Bank
of Commerce was mapping out
an overhaul of its image to
reflect its presence as a Black-
owned bank on both coasts.
OneUnited Bank is com
prised of Black-owned commu
nity banks across the country
including Boston Bank of
Commerce, Peoples Bank of
Commerce in Miami, Founders
Bank of Commerce in Los
Angeles, and Family Savings
Bank in Los Angeles. Each
bank had a long and successful
history of serving urban com
munities.
The bank’s mission is to
empower urban communities
by uniting Black banks on a
national level and offering
affordable financial services as
well as to provide the founda
tion for financial security to
everyone in these urban com
munities. All customers are to
be treated with respect, dignity,
and personal attention to their
banking need regardless of their
account balances. The vision is
to unite banks across the U.S.
that are dedicated to providing
affordable banking for all.
There is a surge of check
cashing outlets in inner city
communities but few residents
have bank accounts.
Recognizing that many Blacks
would rather keep their money
in a lock-box in their house than
open a bank account,
OneUnited Bank launched the
OneUnited Bank Membership
Program.
Eliminating traditional
banking costs, the deposit pro
gram provides members with
access to unlimited checking,
savings, and money market
accounts, for a low, flat month
ly membership fee. No mini
mum balances are required to
avoid fees and there are no
check cashing or transaction
fees. As an added bonus, mem
bership is free for senior citi
zens over age 65, youths under
age 18 and matriculating stu
dents.
An equal opportunity
lender, OneUnited Bank strives
to provide affordable loans to
urban communities. OneUnited
Bank has an established policy
of making sound loans to all
qualified applicants regardless
of race, color, national origin,
religion, sex, marital status, or
age. The bank is committed to
a continuous and affirmative
effort to ensure non-discrimina
tion in lending policies, proce
dures, and practices.
In order for Blacks to be
able to trust financial institu
tions, and stop keeping their
money in their mattresses, they
need a bank that caters to their
needs. OneUnited Bank strives
to do just that.
OneUnited Bank caters to
the needs and concerns of peo
ple in the urban community.
For example, this past summer
OneUnited Bank conducted
financial literacy seminars is all
of its branches across the coun
try. Urban communities need a
solid financial education to
achieve financial security. The
bank also provides customers
with a quarterly customer
newsletter titled "Insights."
The newsletter is another way
to further educate their urban
customers. Past newsletters
have provided information on
balancing debt, managing
Social Security benefits, and
protecting customer privacy.
Black Enterprise magazine
also named the bank the
Financial Services Company of
the Year for 2003 in its June
2003 issue. This selection is
made annually and is awarded
to companies who have
achieved success within its
industry.
As the first inter-state and
fastest growing African-
American bank in the U.S. with
$500 million in assets and
branches in Massachusetts,
Florida, and California,
OneUnited Bank is the premier
banking institution for inner
city communities across
America
CROWNED!!!
PHOTO | Kia Smith
The Atlanta University Center Council of Students selected
the 2003-2004 Mr. & Miss Atlanta University Center (AUC) in an
annual pageant held Sept. 29th at Spelman College’s Cosby
Auditorium.
Kory Fontenot and Starkeda Jackson will reign as the AUC’s
king and queen for the duration of the school year. They were
selected upon a pre-pageant interview, judges’ score and the audi
ence vote.
Kory and Starkeda will spend the remainder of the school
year working with their court to implement programs from their
platforms and ensuring that unity exists among students enrolled
in AUC institutions.
Stephanie Tumer and Chelsey Rodgers, respectively, are 1 st
and 2nd attendants to Miss AUC, and Kevin Peters and Anthony
Wilson are 1st and 2nd attendants to Mr. AUC.
The AUC’s Royal Court can be seen in the coming weeks at
Clark Atlanta University and Morehouse-Spelman Colleges
homecoming celebrations. The Royal Court will be holding their
inaugural week on November 9th-15th. This week will include
various programming from each person's platform. Events will
take place on the campuses of each AUC undergraduate institu
tion. Kia Smith, Contributing Writer
Interview with our President:
The second year of Dr. Tatum
PHOTO | Spelman.edu
Charli A. Penn
Editor-in-Chief
Judging from the opening
of the new Center for
Leadership and Civil
Engagement, the many con
struction sites on campus, and
all the new dorm amenities, it’s
safe to say that President Tatum
has been hard at work since
signing on as Spelman’s ninth
president just one year ago.
For President Tatum, trav
eling throughout the country,
addressing the needs of the
Spelman community, and serv
ing as a positive role model for
students is all in a days work.
What’s her secret? Time man
agement. It’s something that
she says is one of the most chal
lenging aspects of her job.
"I love all dimensions of
my job," says Tatum. "I try to
pace myself so that I won’t be
too tired to be effective."
One of President Tatum’s
biggest concerns is making sure
that Spelman women do not
bum out. Although Spelman
offers its students many oppor
tunities for academic and social
growth, maintaining a healthy
balance is still vital.
"I’ve been trying to lead a
more balanced life myself,"
says Tatum. "One of the things
that we women struggle with is
trying to balance work, family,
life and love in a healthy way."
Recently, Dr. Tatum decid
ed to stop sending e-mails out
after lOp.m, because she felt
that it was setting the wrong
example for students. A good
nights sleep is vital for students
who participate in multiple
extra curricular activities. By
restricting her time on the web
to a reasonable time of day,
President Tatum is able to get
the amount of sleep needed to
wake up and lead a more pro
ductive day.
"I think we all need to leam
how to sustain ourselves spiri
tually physically and emotion
ally," says Tatum.
Allowing yourself time to
enjoy life is important.
President Tatum breaks the
monotony of
her day with a
little yoga in a
small room in
Reynolds
Cottage where
she says she
feels a very
calming vibe.
Finding
time for
Spelman stu
dents is also at
the top of Dr.
Tatum’s list of priorities. Some
of her fondest memories with
Spelman students to date have
been joining the crowd on the
dance floor at the party after her
inauguration last spring and
participating in the annual
homecoming parade.
Adapting to a brand new
environment and beginning a
new life at Spelman can be a
difficult task for freshman. Dr
Tatum urges first year students
to take full advantage of the
many opportunities that are pre
sented to them. The many
administrative offices on cam
pus are designed to fit the spe
cific needs of Spelman women.
But, whether students chose to
utilize their services still
remains up to them.
"It’s really important for
first year students to not be
afraid to ask for help or guid
ance if they need it," says
Tatum.
First year students aren’t
the only students that can bene
fit from Spelman’s resources.
President Tatum’s advises this
year’s graduating class to pay a
visit to the Career Planning
Center at Spelman and take
advantage of the many services
provided there. This year
Spelman hired someone who
specifically focuses on graduate
and professional school advis
ing.
"We are increasingly trying
to build up courses and admin
istrative services that will create
greater opportunities for stu
dents," say Tatum. "And, proac
tive steps to educate the student
community on how to maintain
their own personal well being
are absolutely needed."