Netflix to invest $10M in Miss. based credit union

Netflix to invest $10M in Miss. based credit union
(Source: AP Photo/Matt Rourke, File)

JACKSON, Miss. (AP) - Netflix has announced a $10 million investment in a Mississippi-based credit union to build economic opportunities in Black communities across the Deep South.

The deposit by Netflix in Hope Credit Union is one of the first investments in a $100 million initiative by Hope. The financial institution primarily serves low-income families of color.

Hope is looking to expand its ability to make business, mortgage and consumer loans.

The Netflix investment will support financing to more than 2,500 entrepreneurs, homebuyers, and consumers of color.

Hope officials said the investment is among the first made by Netflix in financial institutions that directly support Black communities in the U.S.

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