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PhasmaFelis t1_ir5t5uh wrote

Oh, that's nice. I was thinking "black banks" were something to do with "black money" (profits from crime).

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lutiax t1_ir4pmet wrote

This is a fantastic concept. I hope it's has long term benefits for the regions it occurs in.

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redcremesoda OP t1_ir4sw17 wrote

Absolutely! And maybe some day there will be a service that lets individuals do the same thing.

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ornery-fizz t1_ir4wf64 wrote

Well done Netflix! Everyone, join a credit union if you can.

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King_Swift21 t1_ir4wx9t wrote

Why?

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AtheneSchmidt t1_ir5dnsc wrote

Idk about other countries, but in the USA, they are not for profit, which means that they are not trying to sell you on services and loans you don't need. Fees and interest rates tend to be lower because they are charging them to cover costs, not to gain profit. Any money that a credit union makes over costs is reinvested into the credit union, either via lowering rates and fees, hiring people, expanding locations, or offering new services.

They are still federally insured, and most belong to a shared ATM system.

Source: worked for a Credit Union.

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ispeektroof t1_ir63dpp wrote

C’mon King, join the union. There’s cookies and coffee waiting for you.

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LiosIsHere t1_ir5d623 wrote

It's so weird to me that this even exists, Black banks. And none of our banks are regional either, you can get an account from anywhere in the country and just... do your business. I mean, it's good that Netflix supports this, you obviously need it.

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[deleted] t1_ir6rh52 wrote

[deleted]

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omegaphallic t1_irrkb7p wrote

These aren't actually black banks, the title is misleading, they are small credit unions in poor neibuorhoods and I doubt they discriminate against white folks who want to make deposites at the credit unions.

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ornery-fizz t1_ir7ubnc wrote

Local community banks and credit unions are not the same things as huge international banks. And based on the article, I don't think anyone is being given special treatment based on skin color. Being black isn't a requirement to bank there, they just serve areas with predominantly black residents.

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BeaconFae t1_ir8lis7 wrote

Are you trying to push the narrative that marginalized communities wouldn’t benefit from more investment? Or are you pushing the narrative that they aren’t worth outside investment? Which kind of erasure are you trying to push?

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