Chase Opens Innovative Branch in West Baltimore and Makes $600,000 Commitment to Help Grow and Scale Local Small Businesses (2024)

December 7, 2022 (Baltimore, MD)–JPMorgan Chase has marked the grand opening of a completely new branch experience at Mondawmin Mall in West Baltimore.

The Mondawmin Community Center branch is the first of its kind in Baltimore-– an innovative, community-inspired model – and only one of 14 Community Centers in Chase’s 4,700 branch network nationwide. This format is part of the firm’s continued $30 billion national effort to help advance racial equity and close the racial wealth gap.

The Mondawmin Community Center aims to help local consumers and businesses realize a better financial future through innovative tools, resources and programming. The location looks and feels different from a “typical” bank – it combines a modern design, spacious layout, and state-of-the-art banking technology, reflecting how customers engage with Chase today.

“Baltimore is a vibrant community with enormous opportunity,” said Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co. “Business has a responsibility to help solve challenges facing the customers and the communities it serves. As JPMorgan Chase grows in Baltimore our firm will do its part to provide greater opportunity – especially for underrepresented and underserved populations. It’s important for our customers, employees, communities and our company to drive inclusive economic growth.”

Branch offerings include:

  • Specialty financial health workshops on topics such as, budgeting, credit and homeownership hosted by experts for both individuals and groups
  • Free one-on-one mentorship support to help local entrepreneurs grow, start or expand their small business
  • A community “living room” area to serve as event space for partner non-profits
  • Wi-Fi for community groups and residents to utilize for remote learning and work.

All Community Center services and programming are free and open to Chase customers and non-customers alike.

“Our approach to our branch expansion is rooted in the belief that we need to have a meaningful presence in the communities we serve in order to make a lasting impact,” said Racquel Oden, Head of Network Expansion, Chase. “For us, our expansion isn’t just about building branches; it’s about working together with our local team to identify the best ways to help more people and more businesses. The Mondawmin Community Center branch is a reflection of our commitment to the Baltimore community.”

The firm also intends to share what it learns from its business, data, policy and philanthropic efforts with business, government, and community leaders and help drive further investment in the region.

"JPMorgan Chase has been an incredible partner in our collective mission to promote equitable growth, close the wealth gap and promote access to financial services across our city," said Baltimore Mayor Brandon M. Scott. "I want to thank them for their belief in Baltimore and their continued commitment to economic mobility in historically redlined and underserved communities. This is a great example of the role private institutions play in Baltimore's renaissance."

Expanding Minority Small Business Growth

JPMorgan Chase announced the next beneficiary of its $20 million five-year philanthropic commitment. The Harbor Bank of Maryland Community Development Corporation will receive $600,000 to expand the Entrepreneurs of Color initiative through their Small Business Fund. The funding will allow The Harbor Bank of Maryland Community Development Corporation to provide strategic technical assistance, access to capital and financial services to small and diverse-owned businesses.

The Chase Business Banking Mentorship program is a three to six month advisory curriculum part of a broader, nationwide effort to help strengthen sustainable business growth. The program operates in 21 U.S. cities, including Baltimore, and is available to all minority, women and veteran entrepreneurs even if they don’t bank with Chase.

Increasing Access to Homeownership

As part of the Mondawmin branch’s customer offerings, Chase Home Lending is offering a $5,000 homebuyer grant to help cover closing or down payment costs for qualified homebuyers purchasing a home in diverse and underserved communities across the nation. This benefit is currently available in 180 neighborhoods in Baltimore.

Additionally, Chase furthers its commitment to help eligible veterans, servicemembers and their families achieve homeownership with a $2,000 VA Purchase Closing Cost Benefit. Eligible customers who complete a certified homebuyer education course may save an additional $500 on a Chase DreamMaker mortgage.

Hiring Locally to Serve the Neighborhood

The Mondawmin branch features a strong team of local financial health experts who are focused on engaging and delivering real economic benefits and solutions. These include:

  • Community Manager, Joel Gamble, who was raised in West Baltimore - about a mile from Mondawmin Mall. Joel will engage the community to increase awareness of available financial health resources, and host interactive programs on topics such as goal setting, budget building and understanding credit.
  • Branch Manager, LaToya Cooper, a West Baltimore native and Loyola University graduate, will oversee all aspects of the branch including traditional banking services and local community engagement.
  • Senior Business Consultants, Hans Petite-Homme and Beth Heir will increase access to 1:1 business coaching, technical assistance and advice to hundreds of Baltimore entrepreneurs on everything from boosting creditworthiness to managing cash flow to effective marketing.

JPMorgan Chase has been doing business in Greater Baltimore since 2012 and currently has 16 branches in the region with 36 expected by 2025. The firm employs more than 1,300 people in Maryland, D.C. and Virginia.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.8 trillion and operations worldwide. Chase serves more than 66 million American households and 5 million small businesses with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.

Chase Opens Innovative Branch in West Baltimore and Makes $600,000 Commitment to Help Grow and Scale Local Small Businesses (2024)

References

Top Articles
How to Get from Nassau to Pig Beach, Bahamas: Best Tours & Costs - 7 Continents 1 Passport
Exuma Bahamas Swimming With Pigs | Experiences | Bahamas Official Site
Yale College Confidential 2027
Hoy Kilnoski Obituaries
Goodall Brazier hiring Vice President in Arizona, United States | LinkedIn
Poppers Goon
Lonely Ghost Discount Codes - 20% Off | September 2024
Dryers At Abc Warehouse
Xenia Canary Dragon Age Origins
Black Adam Showtimes Near Kerasotes Showplace 14
Un-Pc Purchase Crossword Clue
My Scheduler Hca Cloud
Ts Egypt Dmarco
Watch Valimai (2022) Full HD Tamil Movie Online on ZEE5
Knock At The Cabin Showtimes Near Fat Cats Mesa
Free Shredding Events Near Me 2023
Rivers Edge Online Login Bonus
P.o. Box 30924 Salt Lake City Ut
Famous Sl Couples Birthday Celebration Leaks
Nwi Police Blotter
Ninaisboring
Sinfuldeeds Pt 2
Kitchen Song Singer Violet Crossword
18002226885
Spinning Gold Showtimes Near Mjr Westland Grand Cinema 16
One Piece Chapter 1077 Tcb
Wisconsin Volleyball Team Full Leaks
Equity Livestock Monroe Market Report
Madison Legistar
Pella Culver's Flavor Of The Day
Taylorsince1909
Gopher Hockey Forum
Proctor Funeral Home Obituaries Beaumont Texas
Filmy4Wap Xyz.com 2022
Myrtle Beach, South Carolina: Abwechslungsreicher Freizeitspaß unter der Südstaaten-Sonne
Jasminx Fansly
Vernon Autoplex
Texas State Final Grades
Fx Channel On Optimum
Miawaiifu
Orylieys
Sam's Club Gas Price Hilliard
02488 - Uitvaartcentrum Texel
Deml Ford Used Cars
Russia Ukraine war live: Starmer meets Biden at White House but no decision on Ukraine missiles
Immortal Ink Waxahachie
Olive Onyx Amora
Morse Road Bmv Hours
Nordstrom Rack Glendale Photos
Craigslist Groton
Fantasy Football News, Stats and Analysis
Mangadex.oeg
Latest Posts
Article information

Author: Pres. Carey Rath

Last Updated:

Views: 6307

Rating: 4 / 5 (61 voted)

Reviews: 92% of readers found this page helpful

Author information

Name: Pres. Carey Rath

Birthday: 1997-03-06

Address: 14955 Ledner Trail, East Rodrickfort, NE 85127-8369

Phone: +18682428114917

Job: National Technology Representative

Hobby: Sand art, Drama, Web surfing, Cycling, Brazilian jiu-jitsu, Leather crafting, Creative writing

Introduction: My name is Pres. Carey Rath, I am a faithful, funny, vast, joyous, lively, brave, glamorous person who loves writing and wants to share my knowledge and understanding with you.