JPMorganChase today announced plans to hire an additional 75 community managers by 2030 to provide greater access to banking, tools, and advice, and help customers get on a path to financial health and resilience.

Community managers meet with local leaders and businesses to understand their challenges and then work alongside them to address those challenges. Hired locally, Chase community managers do not promote Chase banking products and services; instead they focus on local outreach, education, and financial independence by:

• Hosting financial health workshops on topics such as budgeting, credit, and savings
• Fostering trust, enhancing community engagement, and delivering valuable financial education, among other impactful resources

Chase created the community manager role five years ago when it opened its first Community Center in Harlem. Today there are 150 community managers serving 300 community branches, mostly in low- to moderate-income communities. The additional 75 community managers will enable Chase to have at least one community manager in every one of the 48 states where we have branches as we continue to expand our branch network, covering roughly 50 percent of the Black, Hispanic, Latino population.

To support small business owners, Chase also developed the senior business consultant role, which acts in a similar fashion, offering complimentary one-on-one mentorship, coaching, and technical assistance to business owners. Chase for Business has 74 senior business consultants in 35 U.S. cities, with plans to expand to 38 cities by the end of 2024.

Chase has also recently started to hire community private client advisors, a new role created to help people who want to invest, but don’t know where to begin. These professionals work alongside community managers to host complimentary workshops focused on helping current and prospective clients understand the fundamentals of investing. All workshops hosted by Chase community leaders are open to current and prospective clients.

“Economic opportunity begins with access to financial advice and affordable banking services, and I can’t think of a better way to deliver that than through our team of community managers, advisors and senior business consultants,” said Marianne Lake, CEO of Consumer and Community Banking. “By adding more community managers, we will be able to reach more customers in areas that have faced historical barriers to banking, such as urban areas with Black, Hispanic and Latino populations.”

Celebrating the Harlem Community Center’s Five-Year Anniversary

The grand opening of the Brooklyn Community Center comes as the firm celebrates the five-year anniversary of the first Chase community center, which opened in Harlem in the fall of 2019.

“When we opened the Harlem Community Center our goal was to improve access to reliable, affordable, and local banking services, and be a force for good in the community,” said Jennifer Roberts, CEO of Chase Consumer Banking. “I’m proud to report that we did all of that and more, which is why we are continuing to expand our model to more communities across the country.”

According to an analysis by JPMorganChase, the Harlem Community Center has had a significant impact on the community; improving access to financial education, resources, and personal financial products; increasing the adoption of student checking accounts, and spurring small business growth. The report’s findings included the following:

• From 2019 to 2023, Secure checking accounts increased 1,889 percent in Central Harlem. While account openings increased at every branch in Central Harlem, the highest percentage increase (2,256 percent) occurred among customers at the Harlem Community Center
• During the same time period, personal savings balances grew 73 percent at the Harlem Community Center Branch—highlighting the impact of financial health workshops and efforts to build local trust in financial institutions
• The number of customers choosing to enroll in Credit Journey increased significantly at the Harlem Community Center Branch, suggesting our customers and clients are actively working to improve their credit with access to tips, score factors and details, and other helpful tools and resources
• Between 2019 and 2023, JPMorganChase helped small businesses grow and scale in Central Harlem, with new business card accounts increasing 225% in the region
• These developments have contributed to inclusive economic growth and improvements in overall financial health in Central Harlem. Compared to 2012-2016, the median household income in Central Harlem increased nearly $10,000 to $61,616 during 2017-2021—approximately double the rate of growth in Manhattan

The full report and a description of the many ways JPMorganChase is having an impact on communities across New York can be found here.

“Our success in Harlem isn’t charity, it’s good business,” said Chairman and Chief Executive Officer Jamie Dimon. “By providing access to banking, credit and investment services, and offering the tools and education to take full advantage of all we can offer, we are building stronger, more vibrant communities, which leads to better outcomes.”