“I could not find a book about personal finance from the perspective of urban youth. Yet, when children learn the lessons of financial literacy at an early age, they form strong habits that can be life changing.”
– Teri Williams, United One Bank COO
Generational wealth is something that most people can only dream of obtaining. In theory, it sounds like a goal that everyone should strive for but in all actuality, there is an art behind it, a strategy for success to become financially independent. Nobody wants to struggle but truthfully, the struggle exists because most people have no idea how to make their money work for them.
Unfortunately, Black and Brown communities are at the top of the list of financial shortfalls. Financial literacy is an essential part of creating generational prosperity. Yet many people learn later in life about financial freedom how to obtain it or how to make sure that it keeps growing.
In an online article, Black Enterprise highlighted Black Women who changed the course of Business and broke barriers in the field, Teri Williams, according to the article, along with her partner attained their first United One Bank in 1995. Since that time, Williams has been branded a leader in creating palpable and solid solutions that demonstrate financial competency that other establishments use as a blueprint for success. Money matters can be uncomfortable to discuss, particularly when effective financial strategies are unclear.
Aside from sphere heading one of the most successful Black-owned banking institutions in the world with United One Bank, in 2019, Williams took the initiative to close the gap of financial illiteracy among teenagers in the Black Community penning a book titled I Got Bank.
This book serves as a comprehensive guide for educating young individuals on effective economic management from an early age, aiming to prevent familiar challenges that often arise due to a lack of knowledge regarding sound money practices. Another well-crafted road map in book form for money matters Williams is responsible for is called What My Granddad Taught Me About Money.
As is true with any trailblazing renegade of empowerment Williams did not start out owning banks in fact, she started out as one of the youngest Vice President’s appointed at Bank of America and American Express the experience, she gained working for those institutions served as a steppingstone to the position she now holds as COO of United One Bank. Timing played a key role in the decision Williams made to leave her lucrative career with American Express and charter a new course of action with an urgency based on the belief that financial freedom can be learned by everyone, and it should be learned particularly by people of color.
Williams once said, “It is so vital for us as a community to have Black ownership.” A principle she credits her great grandmother with instilling in her. Williams’ grandmother was an entrepreneur in Florida where the stench of racism was putrid, still it did not deter her grandmother from accomplishing the things she managed to achieve. Having that kind of example to follow explains the determination Williams implemented in her own life.
Given the circumstances, one could only wonder what more could a successful COO and astute businessperson have left to accomplish? The answer is simple, teaching young people the importance of money matters.
Realizing there were no books geared towards young adults that should teach them about personal finance. She wanted the book to be written from the perspective of the young reader. In an interview she explained the motivation behind the book. “I could not find a book about personal finance from the perspective of urban youth. Yet, when children learn the lessons of financial literacy at an early age, they form strong habits that can be life changing.
Just like that, Teri Williams did what she has always done, found another way to keep the fire of financial literacy for youth of color burning; making it her personal mission to show kids growing up in inner cities that financial literacy is possible and generational wealth can be attainable. The principles she learned from her family the skills she garnered during her time at Harvard University as well as Brown University graduating from both schools with honors set her on a collision course with fate landing her the role as one of the youngest VP at two prestigious banking institutions Bank of American and American Express.
Award-winning and dedicated, Teri Williams now enjoys an enviable life. Finding a work-life balance via social media with a popular segment she hosts via United One’s official Instagram account Teri Talks. Offering customers and followers valuable information that continues to shine a light on financial stability and open up avenues for financial literacy for families especially Black youths.
Article By: Candis Johnson
