How was OneCalifornia created?
The OneCalifornia Bank began operating as a federally chartered thrift in June 2007 with $22.5 million in capital provided by Ms. Kathryn Taylor and Mr. Tom Steyer, who believe strongly in the use of capital and financial literacy as empowering agents for change in lower income communities. Steyer and Taylor retain mission focus and control of OneCalifornia Bank, but accrue no economic benefit from their investment. They donated 100% of their economic rights in OneCalifornia Bank to the OneCalifornia Foundation. OneCalifornia Bank, FSB is an FDIC-insured community development bank that integrates its social mission to produce social benefits, positive environmental outcomes, and sustainable profits. The OneCalifornia Bank is one of only 80 banks in the nation that is a certified Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury.
