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.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
21/04/2026
Cloud-based production isnt going anywhere, and BitFire is doubling down by prov...
21/04/2026
The topic of artificial intelligence has a stranglehold on the sports-video-prod...
21/04/2026
5G is still a hot topic in live event production, and this workflow continues to...
21/04/2026
At the 2026 NAB Show, Ed McGivern, GM and President of Appear US, discusses the ...
21/04/2026
Studio Network Solutions (SNS) has announced an on-premise AI suite designed for...
21/04/2026
Suite Studios has integrated its file-streaming technology into the newly announced Frame.io Drive, a desktop application from Adobe company Frame.io. The colla...
21/04/2026
Net Insight has integrated InSync Technology's FrameFormer into the Nimbra E...
21/04/2026
Fox Sports has selected Appear as a technology partner to support the next phase...
21/04/2026
Diversified has appointed Tyler Affolter as Chief Revenue Officer (CRO) to lead the company's commercial organisation. The appointment follows the firm'...
21/04/2026
Layercake has formalised the integration of Bitmovin's video streaming infra...
21/04/2026
The International Judo Federation (IJF) has extended its distribution partnershi...
21/04/2026
Glookast has launched the Cinnafilm Tachyon plugin for its Media Producer and Me...
21/04/2026
Eutelsat has entered into an agreement with Cadena Tres, a division of Grupo Ima...
21/04/2026
Dolby Laboratories and TV Azteca have partnered to introduce Dolby Atmos immersive audio to free-to-air television broadcasts. The implementation utilises the A...
21/04/2026
FOX Entertainment partnered with Verizon to overcome significant production hurd...
21/04/2026
Osprey Video has announced its technology showcase for the NAB Show 2026, highli...
21/04/2026
Riedel Communications (Booth C4908) introduced a range of new solutions at NAB S...
21/04/2026
The NAB Show is in full swing, and the SVG and SVG Europe editorial teams are chasing down the hottest stories from all over the Las Vegas Convention Center. He...
21/04/2026
Blackmagic Design has announced the URSA Cine Immersive 100G, an immersive cinem...
21/04/2026
Clark Wire & Cable is continuing its evolution from cable supplier to full-scale solutions partner for broadcast and live production. At the 2026 NAB Show, we s...
21/04/2026
Rashad Frett attends the 2025 Sundance Film Festival premiere of Ricky at Eccles Theatre on January 24, 2025, in Park City, UT. (Photo by George Pimentel/Shut...
21/04/2026
Five years ago, Spotify arrived in Pakistan, opening a new chapter in the country's music scene. Since then, local listeners have explored across genres, ge...
21/04/2026
Since its launch in 2020, RADAR has been our program for spotlighting emerging artists around the world. This year marks the sixth edition of RADAR Spain, our o...
21/04/2026
Offers compact wireless solution for pedalboards
Taiwanese audio brand Cloudvocal have announced the availability of a new pedalboard-friendly wireless syst...
21/04/2026
Latest hybrid sampling/synthesis instrument arrives
Arturia's Augmented series offerings rely on a mixture of sampling and synthesis, allowing users to ...
21/04/2026
Rohde & Schwarz to host Power Electronics Online Conference From Design to Vali...
21/04/2026
MAS and Lockheed Martin partner to establish an F-35 depot in Canada, enabling in-country sustainment and creating high-skilled aerospace jobs....
21/04/2026
Advertising strategies shift as competition grows for a large, active and qualit...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/04/2026
Layercake Deepens Bitmovin Integration to Power End-to-End Media Orchestration w...
21/04/2026
Cobalt Digital Announces Launch of blueCORE at NAB Show 2026: Compact Powerhouse...
21/04/2026
On-Premise AI Suite from Studio Network Solutions Debuts at NAB Show 2026
Melanie Ciotti April 21, 2026
0 Comments
Unlimited processing, no cloud depe...
21/04/2026
London, 21 April 2026 IBC today announced the appointment of Tim Banham as its first Chief Commercial Officer (CCO), a newly created role that reflects the or...
21/04/2026
Motion Design Tools - April 2026
Roland Kahlenberg April 21, 2026
0 Comments
Within 2 days, Maxon and Canva announced pro-level motion design apps - A...
21/04/2026
Chaos and Zero Density to Showcase Real-Time Ray Tracing for Virtual Studios and...
21/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
Back to All News
