Black-Owned Banking
Kevin Cohee
Early Life and Education:
Kevin Cohee was born in Kansas City, Missouri, on October 20, 1957. His early life details are not widely available publicly. However, his educational background reveals a strong foundation for his future success. Cohee earned a Juris Doctor (JD) degree from Harvard Law School, one of the most prestigious law schools in the United States. He also holds a Master of Business Administration (MBA) and a Bachelor of Arts degree, though the specific universities are not publicly available.
Early Career:
Cohee's professional journey began in the legal and business worlds. In 1979, he founded a consulting firm specializing in acquiring radio and television stations by minorities, demonstrating his entrepreneurial spirit and commitment to empowering diverse communities. After obtaining his JD and MBA in 1985, he transitioned to investment banking, working at Salomon Brothers, Inc., a major financial institution.
Taking the Helm at Boston Bank of Commerce:
In 1995, a turning point came in Cohee's career when he purchased a majority controlling interest in the Boston Bank of Commerce, which was experiencing financial difficulties at the time. His leadership and vision played a crucial role in the bank's turnaround. He was elected Chairman and CEO in 1996 and spearheaded initiatives that led to the bank's growth and profitability.
Unifying Forces: The Birth of OneUnited Bank:
Cohee's ambition to create a more robust financial institution serving the Black community led him to spearhead the unification of several community banks. In 2004, the Boston Bank of Commerce merged with Founders National Bank and Family Savings Bank in Los Angeles and People's National Bank in Miami, Florida. This historic union resulted in the formation of OneUnited Bank, the largest Black-owned bank in the United States and the first Black-owned Internet bank in the country.
Leading the Way: Advocacy and Social Impact:
Under Cohee's leadership, OneUnited Bank has focused on financial success and social impact. He actively promotes financial literacy and economic empowerment within the Black community. Notably, he created and spearheaded the "Bank Black" movement in 2016, encouraging Black consumers to support Black-owned banks as a form of social protest in response to police brutality. This movement resulted in millions of dollars being transferred to Black-owned institutions.
Recognition and Legacy:
Cohee's remarkable achievements have not gone unnoticed. He sits on the board of directors of several organizations, including the National Minority Business Council and the National Urban League. He has also been recognized by numerous publications and organizations for his leadership and dedication to empowering the Black community.
Conclusion:
Kevin Cohee's journey from his early ventures to leading the largest Black-owned bank in the United States is an inspiring story of resilience, business acumen, and social responsibility. His dedication to building a solid financial institution that serves and empowers the Black community continues to shape the landscape of banking and financial inclusion in the United States.
Note: Although some details about Cohee's early life are not publicly available, his educational background, professional achievements, and commitment to social impact paint a compelling picture of his remarkable journey.
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