Square Inc to Make $100 Million Investment to Support Minority Communities in U.S.
24 9월 2020 - 9:25PM
Dow Jones News
By Chris Wack
Square Inc. said Thursday it intends to invest $100 million in
support of minority and underserved communities, driven by the
company's purpose of economic empowerment and its "ongoing
commitment to racial equity."
The company said the investment constitutes 3% of its cash and
marketable securities as of the end of the second quarter of
2020.
Square said it intends to make $25 million to deposits in
Community Development Financial Institutions and Minority
Depository Institutions in communities around the country around
the U.S., and $25 million investment in The Keepers Fund sponsored
by the National Bankers' Association.
The company also will make a $25 million investment in The Black
Economic Development Fund managed by The Local Initiatives Support
Coalition, and an additional $25 million reserved for future
investment into social impact projects, to be announced at a later
date.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 24, 2020 08:10 ET (12:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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