PayPal Deposits $135 Million in Financial Institutions Serving Black and Underserved Communities as Part of $535 Million Commitment to Advance Racial Equity
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SAN JOSE, Calif., June 2, 2021 /PRNewswire/ PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it will deposit $135 million of its capital into mission-driven financial institutions and management funds that help underserved communities of color to fight barriers to economic equity, including Hope Credit Union, OneUnited Bank, Self-Help Federal Credit Union, CNote s Wisdom Fund and various smaller institutions through a CNote Promise Account. These investments are part of PayPal s $535 million commitment to strengthen Black businesses and underserved communities, and help drive financial health, access and generational wealth creation.
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Credit union bringing financial services to south Modesto’s bustling Crows Landing [The Modesto Bee]
Dec. 13 South Modesto’s Crows Landing Road bustles with commerce. The commercial strip features used car lot after used car lot, an abundance of car repair businesses, a pharmacy, about a half-dozen grocery stores, restaurants, taquerias and taco trucks, and stores selling everything from cell phones and home furnishings to clothing and appliances. There is even a travel agency and a bait shop.
One business missing in this primarily Latino and poor community is a financial institution. There is no bank or credit union in south Modesto. The closest are several miles away in downtown Modesto or Ceres.