Netflix Moving Millions into a Black Owned Banks!
Listen here, ever since Black people started DEMANDING that we be given a seat at the table that was built on our backs, moves have been made and large companies have been putting their money where their talent is!
Ben & Jerry's Ice Cream was one of the first companies to stand up and publicly say that they supported Black Lives Matter making a statement on their website that said in part, "we call on the Department of Justice to reinvigorate its Civil Rights Division as a staunch defender of the rights of Black and Brown people. The DOJ must also reinstate policies rolled back under the Trump Administration, such as consent decrees to curb police abuses.
Unless and until white America is willing to collectively acknowledge its privilege, take responsibility for its past and the impact it has on the present, and commit to creating a future steeped in justice, the list of names that George Floyd has been added to will never end. We have to use this moment to accelerate our nation's long journey towards justice and a more perfect union."
They also dedicated a portion of their proceeds to support the cause.
Netflix joined the revolution by creating a Black Lives Matter section on their platform then, they committed to sending $5 million into the Black community. Now, they're stepping their game up even further!
According to Fortune.com:
"The online TV giant will start by shifting $25 million into the Black Economic Development Initiative, a new fund that will invest in Black-owned financial institutions serving low-income communities, and $10 million to Hope Credit Union. Going forward, the company will steer 2% of its cash on hand, which currently amounts to about $5 billion, to financial organizations that directly support African-American communities.
News of Netflix’s commitment sent shares of Black-owned banks soaring Tuesday. Carver Bancorp Inc. jumped as much as 192% in premarket trading and Broadway Financial Corp. gained as much as 96%."
We all know that almost every company has jumped on the "support Black owned business" and "let's include Blacks" bandwagon but, Netflix is really aiming to cut the problem at the source. They want to level the playing field and close the gap caused by systemic inequality.
If you've been thinking about shifting, some or all of, your dollars to Black Owned Banks, we've found a few of the leading banks and given you the 411 on their operations. You can find out more about them here.
It's time to join the revolution by switching up the way we handle and invest our finances. It's time to be more accountable and, if they won't give us a seat at their table, BUILD OUR OWN!
