Latest news with #TeriWilliams
Miami Herald
07-08-2025
- Business
- Miami Herald
Cost of a Miami milkshake? A Pub Sub? Cuban coffee? Check out the price-o-meter
Prices are going up. We feel it in South Florida every day at the store and in the restaurant. And with a bunch of President Donald Trump's tarriffs taking effect Aug. 7, they may go up even more. The average financial impact on families due to tariffs will be $2,400 this year, according to NPR. That's on top of a rise in the consumer price index, basically what we pay for goods and services, resulting in a 12-month inflation rate of nearly 3%. Teri Williams, president and chief operating officer of OneUnited Bank, says factors like 'a tight job market, higher interest rates and an economic slowdown' all contribute to the price increases on goods and services. Increasing rent and the cost of supplies can also play a part in price changes. 'The plastic bottles that your juice goes in, the tops, the paper towels, everything is expensive,' said Brandon Moehling, chief operating officer of South Miami-Dade farm and fruit stand Robert is Here. So, it's time to revive our Miami Herald 'Price-o-Meter' to check if and how much consumer prices have gone up at some of our favorite South Florida places. This was not a scientific survey. We informally checked prices from 2022 and in July 2025 to see how much more we're paying at nine spots in Miami-Dade and Broward. Note that the prices, collected from the businesses, Yelp, menus and company websites, may not exactly reflect what you'll pay if you walk in today — but it gives an idea of what's happening out there. Here's what we found: PRICE UP: Knaus Berry Farm, known for its cinnamon rolls, has increased prices. Knaus Berry Farm is closed for the summer and will reopen in November, the prices on their website indicate a dozen cinnamon rolls cost $16.75, up from $14.50 in 2022. Knaus Berrry Farm is at 15980 SW 248th St. in South Miami-Dade. UNCHANGED/PRICE UP: A good breakfast to start your day is always essential. Luckily, the price of one essential item' hasn't changed from 2022: the $1.25 pastelito at Versaille. But a cafe con leche will cost you more, $3.25, increased from $1.75 in 2022. Versailles is at 3555 SW Eighth St. in Miami.5 PRICE UP: Zoo Miami has increased prices since 2022. An adult ticket is now $25.95, up from $22.95, and a child's ticket is $21.95, up from $18.95. Zoo Miami is at 12400 SW 152nd St. in South Miami-Dade. UNCHANGED: Stone crabs at Joe's Stone Crab have stayed the same since 2022, according to our informal survey. An order of select, or small, order of stone crabs from Joe's Stone Crab costs $54.99, a large order, $69.95, and a jumbo order, $129.95. Joe's Stone Crab is in South Beach at 11 Washington Ave.9 PRICE UP: At Jaxson's Ice Cream Parlor, customers have seen a price increase. A regular ice cream sundae costs $14.50, up from $13.85 in 2022. Jaxson's is at 128 S. Federal Hwy. in Dania Beach. PRICE UP: The price of a chicken tender whole sub at Publix has jumped from $9.49 in 2022 to $11.99 now. Note: Prices may vary by store. PRICE UP: Beef patties at Golden Krust, a Jamaican fast-food chain, have increased over the past few years. In 2022, a beef patty cost $2.95. Currently, the cost is $3.75 PRICE UP: Who doesn't love a good summertime drink? If you want a mojito at Little Havana restaurant and bar Mofongo, expect a price increase. The drink now costs $12, up from its 2022 price of $10. Mofongo is at 1644 SW Eighth St. in Miami.. PRICE UP: As football season starts, fans will likely see an increase in ticket prices to see the Miami Dolphins play at Hard Rock Stadium. The average ticket price increased from $94.95 in the 2022-2023 football season, according to data site Statista, to $104.95 in the 2023-2024 football season. This year's prices have not been listed, according to our survey. PRICE UP: The South Miami-Dade fruit stand and grocer Robert Is Here has increased prices for its milkshakes. In 2022, a milkshake was $8 for regular, $9 for special flavor and $10 for premium flavor. Currently, a milkshake is $10 including tax, $1 extra for sugar, Splenda or honey, with all flavors the same price except guanabana, which is $2 extra. Robert is Here is at 19200 SW 344th St.
Yahoo
09-04-2025
- Business
- Yahoo
OneUnited Bank Teams Up with Esusu to Empower Renters, Unlock Better Credit and Open Doors to Homeownership
Two Impact-Driven Companies Collaborate to Provide Financial Wellness Tools for All BOSTON, April 9, 2025 /PRNewswire/ -- In recognition of Financial Literacy Month, OneUnited Bank, a leading Community Development Financial Institution and the nation's largest Black-owned bank, is joining forces with the innovative credit-building platform Esusu to revolutionize the path to homeownership for renters. By reporting on-time rental payments, this alliance simplifies credit building, paving the way to homeownership and delivering essential financial literacy tools and AI technology to help close the wealth gap. "This alliance is all about empowering renters with the financial tools they need to turn their homeownership dreams into reality," said Teri Williams, President & COO, OneUnited Bank. "For decades, our mission has been to promote financial empowerment for everyone, and this collaboration with Esusu is an important step in that direction." "Financial literacy is the key to achieving stability," noted Wemimo Abbey and Samir Goel, co-CEOs of Esusu. "This collaboration is all about equipping renters with the knowledge they need to navigate their journey to homeownership." To date, the Esusu platform has enabled over 200,000 renters to establish a credit score for the first time, while unlocking over $50 billion in credit activity. On average, renters see a positive credit score increase of 45 points, providing them access to better quality financial products and lower interest rates. "Recognizing rent payments as a valid form of credit building can truly change lives," added Williams. By enabling the reporting of rent payments to all three major credit bureaus, this initiative seeks to transform monthly rental costs into a pathway for increased mortgage eligibility. OneUnited Bank will make rent reporting available to all customers and Esusu will enable renters to access OneUnited Bank's AI-driven financial solutions through its app. This marks Esusu's first collaboration with a banking institution, showcasing the commitment of both organizations to empower underserved communities through cutting-edge, AI-driven financial solutions. For media inquiries, please contact: Suzan McDowell via email at 392958@ or phone at 305-576-3790. PRESS KIT About OneUnited Bank:OneUnited Bank, America's leading Community Development Financial Institution, the nation's largest Black-owned bank, eleven-time recipient of the US Department of Treasury's Bank Enterprise Award for community development and named Inc. Magazine's Best in Financial Services 2024. For more info, please visit About Esusu:Esusu is a leading financial technology platform that empowers residents and transforms property performance by leveraging rental data. Its rent reporting platform captures rental payment data and reports it to credit bureaus, boosting renters' credit scores and helping property owners reduce evictions. Founded in 2018, Esusu reaches over 5 million rental units across all 50 states in the U.S. Learn more at and follow us on Instagram @myesusu and Twitter @getesusu. View original content to download multimedia: SOURCE OneUnited Bank Sign in to access your portfolio
Yahoo
07-04-2025
- Business
- Yahoo
I'm a Banking Expert: 8 Ways To Use Your Bank's Products & Services To Build and Protect Wealth
If you're like most Americans, you have at least one bank account if not several. You probably use your account to receive your paycheck, cover your living expenses or stash some cash for a rainy day. Read Next: Learn More: However, you may not be maximizing your relationship with your bank to build and protect wealth. GOBankingRates spoke with Teri Williams, president and COO of OneUnited Bank, to learn strategies that can help improve your financial future. Where you put your money matters. Financial technology companies, or fintechs, are becoming increasingly popular for their ease of use and special perks. However, your money may be at risk even if the company partners with a traditional bank. For example, some Synapse Financial Technologies Inc. customers lost access to their funds when the fintech went bankrupt in 2024 — despite their partner banks carrying FDIC insurance. The banks themselves didn't go bankrupt, so the coverage didn't apply to Synapse users. When you do business directly with an insured bank, your cash is safe should the institution become insolvent. According to Williams, 'No one has lost money depositing their funds in a bank account [that has] below the FDIC maximum [balance] — currently $250,000 — since the inception of FDIC insurance in 1933.' If you have over $250,000 in your account, the excess funds are not covered by FDIC insurance. You could lose that money if the bank goes out of business. Maintaining multiple accounts below the quarter million dollar threshold at different banks ensures all of your cash is protected. Find Out: Keeping all of your money in one bank can be convenient. However, you may want to spread your funds across multiple institutions for reasons beyond FDIC insurance. Working with more than one bank could give you access to different benefits. For example, one bank could offer a fee-free checking account, while a savings account at another institution may feature a more competitive interest rate. Some banks also offer a welcome bonus when you open a new account, potentially generating a few hundred dollar return on a minimal time investment. Some banks offer advisory services to help you plan for retirement, invest wisely and minimize your tax liability. You may need a certain net worth or amount of investable assets to qualify for these services, but it doesn't hurt to inquire about them. Bank staff can also educate you on the institution's financial products and recommend those that best align with your goals and preferences. 'Many times, consumers [select] the wrong banking product, paying unnecessary fees or interest on loans and not getting the highest interest on their savings. Your bank can give you insight on how to better manage your money,' Williams said. On top of retirement planning services, your bank may offer products to help you save for your golden years. For instance, an individual retirement account (IRA) could be a great addition to your investment portfolio. An IRA builds wealth while providing tax advantages. You fund a Roth IRA with post-tax dollars and then can withdraw the money tax-free in retirement, assuming you've had the account for at least five years. A traditional IRA is the opposite: funded with pre-tax dollars and taxed upon withdrawal. You have lots of options when it comes to where to store your money, so many banks have introduced rewards programs to attract and retain customers. For example, your financial institution may offer cash back when you shop with your bank-issued debit or credit card. Using your debit card to cover $10,000 worth of purchases at 1% cash back puts $100 in your pocket. Your bank may also make it easy to grow your savings account balance. According to Williams, some 'banks provide great products for savings, including 'keep-the-change' programs that allow you to save as you spend by automatically moving your change into a savings account.' For example, if you use your debit card to buy your $3.50 morning coffee every workday, a keep-the-change program would boost your savings account by around $10 monthly. While bank-issued rewards probably won't make you rich, they will add up over time. Plus, if you invest your earnings, they can have an even more significant impact on your bottom line. Want to learn more about money management? Your bank may offer several educational resources, such as: Blog posts, podcast episodes and videos about topics ranging from budgeting to investing Online calculators to help you understand loan costs, time to pay off debt and more Free events led by financial professionals that go deeper than the online content One-on-one meetings with bank representatives for personalized guidance. Visit your bank's website to get started. Your bank likely lends money through many financial products, such as credit cards, personal loans and mortgages. Williams said, 'The most important bank product to build wealth is a home loan. Homeownership is where the majority of Americans accumulate wealth over time. [Plus,] given the recent Federal Reserve [rate cuts], home mortgages have become more affordable.' As an added perk, your bank may offer you a better interest rate simply for being a customer. Even a small rate reduction could save you tens of thousands over the life of the mortgage. According to Williams, life insurance is a 'necessary product to build generational wealth.' A term life policy pays out a death benefit to your heirs should you pass away during the covered period — generally up to 30 years. Your beneficiaries could use the money to cover your funeral expenses, pay off the mortgage on the family home, fund a college education or take care of anything else they need. A whole life policy, while more expensive, builds cash value and pays out a death benefit. It remains in effect as long as you pay the premium. Depending on your situation and budget, obtaining this type of policy could be a good way to protect your family's wealth. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for RetireesI'm Retired and Regret Moving to Arizona -- Here's Why 4 Affordable Car Brands You Won't Regret Buying in 2025 This article originally appeared on I'm a Banking Expert: 8 Ways To Use Your Bank's Products & Services To Build and Protect Wealth Sign in to access your portfolio
Axios
24-02-2025
- Business
- Axios
New initiative supports first-time homebuyers in Miami
OneUnited Bank, the nation's largest Black-owned bank, is launching a new initiative to support first-time homebuyers in Miami. Why it matters: Miami is facing an ongoing affordability crisis, with just 7% of the city's homeowners under 35 years old compared to the national average of 11%. Driving the news: OneUnited announced its Lift Up Initiative, a $50,000 down payment assistance program for first-time buyers in Miami, Los Angeles and Boston. Offered through its partnerships with Federal Home Loan Bank (FHLB) of Boston, the program is a first-come, first-serve initiative for Black, Hispanic and other minority homebuyers. How it works: To qualify, a Miami applicant must be a first-time homebuyer, make no more than 120% of the median income and complete a HUD-approved education course, a spokesperson told Axios. Borrowers must be approved by the FHLB of Boston. They don't have to have an active loan with OneUnited. Between the lines: The program officially begins on April 1, but it already launched so applicants can gather the necessary requirements. What they're saying: OneUnited is participating in the program because it "recognizes the historical and current obstacles to homeownership faced by people of color," the bank said in a news release. "Right now, we are striving for as many applicants as we can get," OneBank's President and Chief Operating Officer Teri Williams told Axios when asked how many grants would be distributed. "For us, the constraint is not the availability of dollars, but getting applicants approved."
Miami Herald
27-01-2025
- Business
- Miami Herald
Saving for a down payment in Miami? A Black-owned bank is offering forgivable loans
Could more Black residents in Miami build generational wealth by owning their homes? A new program offered by the Black-owned OneUnited Bank is offering first-time homeowners forgivable loans of up to $50,000 to try to make that happen. The bank's Lift Up Homeownership Program is meant to help first-time homebuyers who are Black, Latino, Native American, Asian or native Hawaiian/Pacific Islander make a down payment on a home. 'This is an opportunity for someone coming out of school,' said OneUnited CEO Teri Williams. 'As opposed to paying rent somewhere, you can buy a small condo. This could be a place for you to start building up home equity so that five years down the road you can buy something larger. This can make a huge difference in building generational wealth.' Williams emphasized that the loan is forgivable once applicants live in their homes for five years, meaning borrowers will not have to pay back any of the loan if they stay for that amount of time. Funds from the program can be combined with funds from other first-time homeownership programs to better assist potential borrowers. Owning a home in Miami, which has been called 'the epicenter of the housing crisis,' is not cheap. According to a 2024 study, just 44% percent of Black residents in Miami-Dade County own homes, compared to about 63% of white residents and 51% of Hispanic residents. 'Our homeownership rates are lower, especially in this market,' Williams said of Black homeownership in Miami. 'It's too darn high to buy a home.' Beginning April 1, applicants can apply for funding online or by visiting OneUnited's Liberty City branch. They need to have already found a home they wish to purchase and be approved through OneUnited. Qualified applicants also must not earn more than 120% of the area median income — about $95,400 for a household of one person or $108,960 for a household of two people. Applicants must complete a HUD-approved buyer education course and pay at least $1,000 toward the purchase of the home. Once picked, program participants can also receive $1,500 to use toward closing costs. The countless number of OneUnited customers who have reached out to Williams about getting loans for new homes over the years is what motivated her to launch the program. 'People reach out all the time,' she said. 'We said, 'We got to do something different in 2025.'' As the head of one of the most prominent Black-owned banks in America, Williams is adamant about residents participating in the program and wants to see more Black community members take advantage of it. 'When we talk with providers of these programs, they struggle to get Black community participation,' she said. 'That's what we're really trying to focus on.'
