Sony Pixel Power calrec Sony

Banking On Us: Fulfilling Our Pledge to the Black Community

01/12/2021

Back to All News

Banking On Us: Fulfilling Our Pledge to the Black Community

Aaron Mitchell

Director, Human Resources, Netflix Animation Studios

Shannon Alwyn

Netflix Treasurer

Social Impact

01 December 2021

United States

We're excited to announce that Netflix has fulfilled its pledge to move two percent of our cash holdings - around $100 million - into Black banks and other Black-led financial institutions in the US. More capital moving into these institutions means more home and small-business loans, resulting in more opportunities for Black communities. And because we pegged our commitment to 2% of Netflix's case, the investment also grows overtime. So we will be topping up our commitment at the end of the year and moving more cash - over and above the $100 million already committed - into these institutions.

It's been rewarding to see many other companies follow suit, and the impact these changes have had for people like Dominique Lumpkin, who just bought her first home in Memphis. Or Colby Midget, who kept the doors open to her floral shop despite the toll of the pandemic. Both were possible because of Netflix's early investment in Hope Credit Union, a community development financial institution (CDFI) that serves underbanked communities in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.

To broaden understanding of this movement's real world impact, we're highlighting the stories of Dominique, Colby and others in a new web series called Banking On Us. The first episode, Investing in the Black Community, premieres today on YouTube. Episode 2 on business ownership will premiere Dec. 8 at 9 a.m. Pacific, and episode 3 on home ownership will premiere Dec. 15 at 9 a.m. Pacific.

To help close the wealth gap, we need more companies to join this movement. If your company is interested in how it all works, you can check out what we've learned here or reach out to us. Together, we can contribute to more healing and progress for Black communities.

*Netflix's 2% cash holdings pledge of $100 million is allocated as follows:

$10 million was deposited with Hope Credit Union in the form of a Transformational Deposit to fuel economic opportunity in underserved communities in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.

$25 million was invested as seed funding to establish the Black Economic Development Fund, managed by the Local Initiatives Support Corporation (LISC). The fund invests in Black-led banks, anchor institutions, businesses, and real estate developers. It reached its $250 million goal this year thanks to capital investments from 11 public and private companies, including Paypal, Costco, Square, and McKinsey and Company.

$10 million was invested with The Change Company to finance more Black homeowners fairly and responsibly.

$25 million was invested as seed funding for the Enterprise Community Impact Note to support its Equitable Path Forward initiative. The initiative supports historically marginalized housing providers in creating and preserving affordable homes in diverse communities.

$10 million was deposited with OneUnited Bank as the start of an ongoing relationship.

$20 million was invested in Calvert Impact Capital's Community Investment Note. The funds are earmarked to support housing and community development projects focused on U.S. BIPOC communities.
LINK: https://about.netflix.com/en/news/banking-on-us-fulfilling-our-pledge-...
See more stories from netflix

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

18/08/2026

SportStream 2026 Virtual Event Set for September 15-17

SportStream 2026, a free three-day virtual event, will take place September 15-17. One registration provides access to all three days of live programming and on...

18/08/2026

IBC 2026: BeckTV to Debut BeckFlow Documentation Platform

BeckTV will introduce BeckFlow to the European market at IBC2026, demonstrated on the Providius stand (10.F53). BeckFlow is a web-based schematic documentation...

18/08/2026

IBC 2026: Boland Communications to Introduce ST 2110 Option for 4K Monitors

Boland Communications will introduce a SMPTE ST 2110 input option for its 4K monitors at IBC2026, along with a new 55-inch super-narrow bezel display for video ...

18/08/2026

Seattle Seahawks Integrate Dolby OptiView with Dolby Vision for Fan Streaming

Dolby Laboratories and the Seattle Seahawks have announced a partnership integrating Dolby OptiView into the Seahawks' live streaming coverage, making the S...

18/08/2026

Insights from BMG's Graham Taylor on the Role of a Sports Producer in Live Broadcast Production

For BMG Executive Producer of Sports Production, Graham Taylor, producing live s...

18/08/2026

TMRW Sports Names Rufus Hack as President of Golf

TMRW Sports has appointed Rufus Hack as President of Golf, a newly created role in which he will lead the company's golf businesses including TGL presented ...

18/08/2026

SMT To Deliver Race Technology for Freedom 250 IndyCar Broadcast

SMT will provide race technology for FOX Sports' coverage of the Freedom 250 Grand Prix of Washington, D.C. on August 23, when the NTT INDYCAR SERIES races ...

18/08/2026

HMA's Creator Collective Pairs Digital Creators, Beat Writers in New Model for Local-Sports Coverage

The live, YouTube-native roundtables combine fan voices, credentialed reporters,...

18/08/2026

Behind The Mic: FOX Sports Shares Broadcast Lineup for 2026 NFL Season and College Football Season

Behind The Mic provides a roundup of recent news regarding on-air talent, includ...

18/08/2026

Miami Heats Ed Filomia on Rebuilding Kaseya Centers Video Infrastructure and 29 Years With the Heat

The industry legend sounds off on replacing the Heat's iconic Medusa score...

18/08/2026

Bill Rasmussen, ESPN Founder and Sports Broadcasting Hall of Famer, Dies at 93

William F. Rasmussen, the sports fan-turned broadcaster and entrepreneur whose out-of-the-box idea of a 24-hour cable sports network, ESPN, changed forever the ...

18/08/2026

DAZN Completes Acquisition of ViewLift

DAZN Group has completed its acquisition of ViewLift, a provider of streaming and digital solutions for sports content owners. The acquisition was first announc...

18/08/2026

American Association of Professional Baseball Adds SI TV as Broadcast Partner

The American Association of Professional Baseball (AAPB) has added SI TV, Sports Illustrated's 24/7 streaming channel, as a broadcast partner for the remain...

18/08/2026

Esports Foundation Postpones Inaugural Esports Nations Cup to November 2027

The Esports Foundation has announced that the inaugural Esports Nations Cup (ENC), originally scheduled for November 2026 in Riyadh, will be postponed to Novemb...

18/08/2026

Diversified Launches Global Managed Services Practice

Diversified has announced a new Global Managed Services Practice, consolidating the company's managed services capabilities into one organization. Rob Mello...

18/08/2026

Appear Completes REMI Proof of Concept with Thoroughbred Racing Productions

Appear has completed a proof of concept with Thoroughbred Racing Productions (TRP), demonstrating multi-camera remote live production over bonded 5G cellular an...

18/08/2026

IBC 2026: Riedel Implements Live Production Infrastructure at Edith Cowan University

Riedel Communications has announced that Edith Cowan University (ECU) in Perth, ...

18/08/2026

Panoramic from Panorama Labs

Company launch with stereo-imaging tool Panoramic is the debut release from Panorama Labs, a new company formed by mastering engineer Nicholas Di Lorenzo. C...

18/08/2026

Focusrite extend Control 2 support

Control software now available for older interfaces Focusrite have just announced the launch of an update that extends Control 2 software support their Scar...

18/08/2026

Call for the 20th Annual South African Film and Television Awards (SAFTAs20) Jury

The National Film and Video Foundation (NFVF), an agency of the Department of Sp...

18/08/2026

Corridor Television Pays $27,000 for Violating FCCs EAS Rules

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

Disney's ABC Files First Amendment Lawsuit Against the FCC

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

Lightware Integrates with SpectralBot to Accelerate AV Tr...

Lightware announces an integration with SpectralBot that helps system integrators and AV operators troubleshoot faster using augmented reality (AR), AI-assisted...

18/08/2026

Command Frame for After Effects

Command Frame for After Effects Scott Black August 18, 2026 0 Comments Free download, demonstrations, hands-on tests, and creator resources Want to t...

18/08/2026

Dot Group to show how cutting carbon cuts cost - live at...

At Stand 14.A57, the data company will demonstrate GreenDot and IBM Aspera together, giving media and entertainment businesses real-time visibility of what thei...

18/08/2026

Blue Lucy launches Connected Value Audit

New tool provides a robust audit of operational workflows, calculating the tangible value each delivers today, and informing business decisions for tomorrow. W...

18/08/2026

Media Utilities transitions to Media Utilities - a DigiNe...

Media Utilities is integrating its activities into DigiNet and will maintain a recognisable presence in the market under the name: Media Utilities, a DigiNet br...

18/08/2026

Appear demonstrates broadcast-grade REMI production over...

Proof of Concept validates reliable multi-camera live production from remote racecourses without fixed network infrastructure Appear ASA (Appear, OSE:APR), a g...

18/08/2026

Stingr brings frictionless second-screen interaction to I...

Stingr, a new venture from the founders of Hornets Tech, is bringing its second-screen interaction platform to IBC2026. The second screen has never really wor...

18/08/2026

Hiltron to Promote its Latest Generation Satellite Commun...

Long-established satellite equipment manufacturer and systems integrator Hiltron Communications will promote its new HACUX-IDU2 antenna control unit touchscreen...

18/08/2026

EMAM, PlayBox Neo and SNEWS Launch Combined Nuvex System

EMAM, PlayBox Neo and SNEWS Launch Combined Nuvex System Brie Clayton August 17, 2026 0 Comments Integrated platform melds media asset management, pla...

18/08/2026

The United Stand Scales Live Fan Show with Blackmagic Design Workflow

The United Stand Scales Live Fan Show with Blackmagic Design Workflow Brie Clayton August 17, 2026 0 Comments ATEM Constellation 8K and HyperDeck Stud...

18/08/2026

Twin Cities PBS to Become Minnesota PBS

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

MPA, ByteDance Reach AI Copyright Protection Deal

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

DirecTV to Launch Curated Multiview for Live Sports

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

Sinclair Taps Carol Kellum to Head Nebraska Stations

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

Corridor Television Pays $27,000 for Violations of FCCs EAS Rules

Share Copy link Facebook X Linkedin Bluesky Email...

18/08/2026

Triveni Digital Accelerates TV 3 0 Transition in Brazil W...

Triveni Digital Now Offers a Joint Solution With MediaKind and a Lab System Bundle Supporting ISDB-Tb and TV 3.0 Broadcast Services Triveni Digital, a trusted ...

18/08/2026

BeckTV Debuts BeckFlow at IBC and Showcases Expertise for...

At IBC2026, BeckTV, a premier systems integrator for the broadcast industry, will introduce BeckFlow to the European market. BeckFlow is the first web-based sch...

18/08/2026

PTZOptics Launches Rise 4K Bringing Ultra HD Quality and...

New flagship PTZ camera combines cinematic 4K imaging, professional broadcast connectivity and the complete Horizon intelligent video experience for productions...

18/08/2026

VisualOn IBC Show Preview - AI-Powered CAE Advanced Playb...

At IBC2026, VisualOn will demonstrate how video service providers can slash bandwidth costs, maximize ad revenue, and deploy premium interactive features withou...

18/08/2026

Paying It Forward: Greg Tabor on Giving Back to the Next Generation

The relationships built during graduate school often continue to shape careers long after a degree is earned, creating a community of scientists who learn from ...

18/08/2026

Sky Sports and The Fast and the Curious announce new partnership

Tuesday 18 August 2026 Sky Sports and The Fast and the Curious announce new partnership Sky Sports and The Fast and the Curious have announced a new long-term...

18/08/2026

Riedel Brings Professional Live Production Into the Classrooms of ECU

Wuppertal August 18, 2026 Riedel Brings Professional Live Production Into the Classrooms of ECURiedel Communications today announced that Edith Cowan Universi...

18/08/2026

The Biggest AI Opportunity Isn't in Engineering. It's in Everyone Else.

In my previous article, The AI Shift Feels Familiar. Our Response Should Be Different., I argued that the greatest challenge organizations face is no longer the...

18/08/2026

Apple announces changes for apps in the European Union - UPDATE - Posted on 18 August 2026

Apple today announced changes to its business terms for apps in the European Uni...

18/08/2026

RT TO AIR NEW DOCUMENTARY THAT LIFTS THE LID ON THE HEALY RAE DYNASTY

THE HEALY RAES: BLOOD, SWEAT & TEARS AIRS WEDNESDAY AUGUST 19 ON RT ONE AT 9:35PM A new documentary The Healy-Raes: Blood, Sweat & Tears airs on RT One and ...