Boston-based OneUnited Bank is launching a credit card designed to help consumers establish credit or rebuild a bad credit rating.
The Unity Visa card, nicknamed ‘the Comeback Card’, launches on 15 January. Consumers will be offered a rebuilding credit programme, and the card scheme will report to the three major US credit bureaus – Experian, TransUnion and Equifax
OneUnited Bank president and COO, Teri Williams said: "We built Unity Visa and our How to Rebuild Credit Program to fulfil multiple consumer needs.
"We wanted a programme to support the financial comeback many are experiencing in America by helping to build and rebuild credit.
"We also wanted to provide a better alternative to costly pre-paid debit cards. Unity Visa accomplishes both."
OneUnited has a focus on community development lending, winning it the US Treasury’s Bank Enterprise Award for ten years.
Over the years it has acquired a number of other community banks, including Boston Bank of Commerce Founders National Bank and Family Savings Bank and Peoples National Bank of Commerce.