Biogen Moves $10 Million To Black-Owned OneUnited, Joining the Fortune 500 Trend To 'Bank Black'

By Jen Wieczner

SOURCE: Biogen


Moving money to Black-owned or Black-led financial institutions is officially a Fortune 500 trend. Biogen, the Boston-based biotech company working on a treatment for Alzheimer’s disease, is depositing $10 million of its capital into OneUnited, a national Black-owned bank, the company said Thursday morning.

It’s the latest in a string of recent moves by large corporations to shift some of their money to Black-owned banks and lenders primarily serving the Black community in the months of unrest over racial injustice following the killing of George Floyd in May.

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KEYWORDS: NASDAQ:BIIB, Biogen, OneUnited Bank, Bank Black

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