NEW YORK (AP) — JPMorgan Chase announced Thursday that it intends to dramatically grow its national “Community Center” program, with plans to double the number of specialized branch locations it operates in low-income communities across the United States.
In addition to expanding the number of locations, the bank says it will bring on 150 new employees — called community managers — and offer expanded programming at each site.
The Community Center initiative focuses on placing Chase branches in low- and moderate-income neighborhoods, particularly in areas where many residents have limited or no access to traditional banking services. The bank launched its very first Community Center in Harlem back in 2019 as a pilot effort, and after seeing positive results, it grew the program to 19 locations nationwide. The bank’s CEO, Jamie Dimon, has made a point of attending the ribbon-cutting ceremonies at nearly every Community Center opening, with local government officials and other notable figures typically joining those events.
“We are doubling down on our efforts to expand access,” said Diedra Porché, who leads Chase’s community and business development division.
Although these locations function as standard Chase branches, they also feature open spaces where financial educators, local nonprofit groups, and other organizations can hold free workshops for area residents. The bank says the community managers who oversee these centers are instructed not to push Chase products, and people who attend events are not required to be Chase customers or have any interest in Chase’s offerings.
The programming at these centers covers a wide range of financial topics — from helping individuals put together a household budget to running workshops tailored for small business owners. Chase estimates that since the first center opened, roughly 14,000 workshops have taken place with more than 1 million total attendees. The bank has set an ambitious goal of growing that reach to 5 million attendees going forward.
Federal law requires banks to serve low-income communities under the Community Reinvestment Act, though institutions have flexibility in how they meet that obligation. While Chase also donates through the JPMorgan Chase Foundation, Dimon has previously stated his belief that opening physical branches in underserved areas — creating local jobs and providing financing — can make a bigger difference than charitable giving alone.
“We try to meet people where they are, and then give them the tools and resources they might need to take their next step successfully,” Porché added.
The program also makes financial sense for the bank. Even though staff at Community Center events are not there to sell products, opening a branch in an underserved neighborhood has consistently led to new account openings and new customers. Chase has previously released data showing that its Community Center locations generate significantly higher rates of new account activity compared to other branches in the surrounding areas.
