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JPMorgan Chase plans to expand Community Center program, doubling branches in low-income areas
The bank plans to add 150 community managers and expand free financial workshops as it seeks to reach 5 million attendees.
- On Thursday, JPMorgan Chase announced plans to double its national Community Center program in low-income neighborhoods. "We are doubling down on our efforts to expand access," said Diedra Porch, head of Chase's community and business development division.
- Chase opened its first Community Center in Harlem in 2019 as an experiment, and the program's success led to 19 locations currently operating across the country.
- The bank has hosted 14,000 workshops for more than 1 million attendees and plans to hire 150 community managers to reach a goal of 5 million attendees.
- While these locations provide free financial education, reports show Community Centers lead to higher account openings than traditional branches, making the program beneficial business for Chase.
- CEO Jamie Dimon believes the bank creates greater impact in underserved areas by opening branches rather than relying solely on charitable giving through the JPMorgan Chase Foundation.
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Total News Sources21
Leaning Left6Leaning Right2Center10Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 33%
C 56%
11%
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