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PayPal Deposits $135 Million  in Financial Institutions Serving Black and Underserved Communities

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.

With these deposits, PayPal has now committed more than $500 million of capital through its racial equity initiatives, including  a  deposit in Optus Bank; an  investment in  LISC's Black Economic Development Fund; investments in 19 Black and Latinx-led venture capital funds; and grants to Black-owned small businesses and community nonprofits that support them.  PayPal is in active conversations with several additional financial institutions and expects to deploy more funds throughout the year.

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