Block’s purpose is economic empowerment — building simple tools to empower people in the economy. For our impact investments, we look for organizations that align with both our purpose and our business. That’s why we’ve been investing in Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) since 2019. Their focus, like ours, is on increasing access to capital and financial tools for businesses and individuals, particularly in historically under-resourced communities.

Our approach, outlined in this 2021 memo, centers around capital and equity investments spread across U.S. and international funds and institutions. Unlike one-time deployments and call-backs, our funds unlock lending power for these institutions, which extend loans within their communities. When those loans are repaid, our banking partners redeploy the funds, creating a cycle of continuous reinvestment. In this way we hope to facilitate long-term impact in minority and under-resourced communities.

As part of our commitment, our Discovery Grant supports organizations across the globe working to advance financial education and inclusion through innovative programs. We deploy grants annually and accept applications on a rolling basis.

Here we highlight our incredible banking partners and grant recipients, all working toward a shared purpose of economic empowerment and access.