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...
19/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/05/2026
Grass Valley has entered into a three-year enterprise agreement with Phoenix Broadcast Solutions as the Singapore-based company expands its live production oper...
19/05/2026
Clear-Com supported Musikal Perahu Kertas, a large-scale musical theater production in Indonesia adapted from the acclaimed novel by Dee Lestari, through the d...
19/05/2026
Actus Digital, a LiveU company, and a leading provider of intelligent media monitoring and broadcast compliance platforms, announced today that METEO CONSULT ha...
19/05/2026
Globecast, a leading provider of managed services for the broadcast and media industry, today announced the completion of a major renovation of its Singapore fa...
19/05/2026
Following a major upgrade to its Connecticut remote production centre with the installation of three 60-fader Argo S consoles in 2023, RPS has switched one of t...
19/05/2026
PlayBox Technology today announced the launch of Celebro Play, a browser-based media orchestration platform designed specifically for broadcast facilities and p...
19/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/05/2026
LYNX Technik, provider of modular signal processing solutions for broadcast, post, and professional AV will showcase its latest signal processing solutions at B...
19/05/2026
Media Links, a leading developer and manufacturer of IP media transport solutions, has announced the integration of its Xscend platform with Skyline Communicat...
19/05/2026
Collaboration expands regional partner ecosystem as Media Links showcases IP media transport solutions on stand 4M4-4 and alongside Clearcast Asia on stand
Me...
19/05/2026
Company Highlights Labor-Saving Control and Custom Branding Opportunities Designed to Increase Integrator Profitability
LynTec, a leading manufacturer of ele...
19/05/2026
Mago Studio Moves AI Video Beyond Prompts with New Production-Focused Tools
Brie Clayton May 18, 2026
0 Comments
New Capabilities Bring Controllable, ...
19/05/2026
It May be Time to Stop and Take an AI Breather
Brie Clayton May 19, 2026
0 Comments
If the rock you stay on starts to roll, jump clean. Or you'll...
18/05/2026
Despite a bumpy start to the year, the provider of event-production support and ...
18/05/2026
Daktronics has partnered with the University of North Carolina to manufacture and install 11 LED displays totaling more than 10,000 square feet and more than 14...
18/05/2026
CBS LA has announced a multi-year partnership with the Los Angeles Rams, covering exclusive local broadcasts of Rams preseason games, weekly year-round programm...
18/05/2026
Skyline Communications has announced an integration between its DataMiner xOps p...
18/05/2026
eCLUTCH, the hybrid esports platform powered by iKOMG, has announced an expansion of its distribution across Europe, MENA, Africa, and Asia, along with new cont...
18/05/2026
Behind The Mic provides a roundup of recent news regarding on-air talent, includ...
18/05/2026
With 22 games this season, the production team looks forward to tweaking and enhancing the coverage
After 8,660 days off the air, the WNBA returned to NBC yest...
18/05/2026
(L-R) Midori Francis and Natalie Erika James attend the Saccharine premiere during the 2026 Sundance Film Festival at The Ray Theatre on January 22, 2026, in ...
18/05/2026
Last night, the Spotify Podcast Awards in Mexico returned to the country's capital. Now in its second year, the evening honors creators whose voices are hel...
18/05/2026
ZEN-Core synth goes mobile
Roland's powerful ZEN-Core software synthesizer has just been introduced to the iPad, offering a convenient entry point into ...
18/05/2026
Versatile new limiter plug-in announced
Based in Sheffield, UK, fedDSP offer a range of plug-ins that span the music production, live sound and high-end med...
18/05/2026
A new use for convolution?
Viiri Audio's debut plug-in aims to do something a little different with convolution processing, allowing users to adjust all...
18/05/2026
Delta Goodrem shines for SBS as more than 3.27 million Australians tune in for E...
18/05/2026
The Australian Defence Force uses L3Harris T4 and T7 robots for explosive ordnan...
18/05/2026
Continued investment across Europe and Germany is expanding local teams and improving access to stock, regional expertise, and specialist broadcast support.
CV...
18/05/2026
Agentic AI inference at one-tenth the cost per token with NVIDIA Vera Rubin NVL7...
18/05/2026
18 May 2026
Dubai and New York, May 18, 2026 - VEON Ltd. (NASDAQ: VEON), a glob...
18/05/2026
Monday 18 May 2026
Sky News offers ad-free podcasts and bonus episodes for just...
18/05/2026
Comscore March 2026 Consumer AI Chatbot Usage Rankings Show Claude Gaining Share OpenAI's ChatGPT maintains lead while Anthropic's Claude continues to c...
17/05/2026
Delta Goodrem's Eurovision Eclipse marks end of a stellar run
17 May, 2026
Media releases
Bulgaria wins Eurovision 2026
Relive every spellbinding mome...
17/05/2026
Back to All News
Oasis Premieres on Netflix June 19
Entertainment
17 May 2026
GlobalSpain
Link copied to clipboard
Summer, sunshine, the beach, parties. T...
16/05/2026
Helps to deliver a clean, balanced midrange
Developed alongside Newfangled Audio, the latest plug-in in Eventide's software collection has been designed...
16/05/2026
Brings onboard stem rendering to RANE System One
Engine DJ have just released Engine DJ 5.0, a free update for their Engine DJ OS embedded hardware and Engi...
16/05/2026
Boris FX Continuum Pairs AI Precision and Advanced Creative Controls
Jessie Electa Petrov May 16, 2026
0 Comments
The 2026.5 release adds automatic de...
16/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
Back to All News
