Bank On Cathy Hughes With ONE VIP
From sleeping in a sleeping bag on the floor for 18 months to sitting on numerous boards and living a philanthropic lifestyle, Cathy Hughes is known to hold sway in the media and entertainment industry. Cathy Hughes, Founder and Chairperson of Urban One, Inc., has announced the launch of ONE VIP, a full-featured FDIC Insured digital deposit account featuring the ONE VIP Visa Debit Card. ONE VIP is a digital financial solution with a rewards product designed with Black consumers in mind. It is also designed for consumers who are currently unbanked.
According to ONE VIP: “Cardholders can manage their account online or with the ONE VIP mobile App and make cash withdrawals, retail, and online purchases with the premium matte Black prepaid debit card, that rewards them for a life well spent. Customers can maximize their spending power and earn points on most purchases. They can also earn additional points from select merchants as part of a Buy Black initiative that incentivizes them to shop with 25 Black-owned brands. Points can be redeemed either for cashback or used as a donation to the Urban One Community Works Foundation (U1CW). U1CW will use the donations to support selected charities supporting Black people such as The Innocence Project for criminal justice reform."
Cathy Hughes knows that many Black people possess the generational curse to not bank at all due to mistrust, and rightly so. “It can't just be a very small percentage of our population that are able to economically grow and thrive. We have to make certain that our masses have the ability to fulfill their dreams to live their lives. And not be running from rats, roaches, and police,” Ms. Hughes asserts. Essentially, Cathy Hughes wants Black people to stop using the rubber band method and stashing savings under the mattress and to bank with her and ONE VIP to establish financial freedom.
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