NEW YORK, OCTOBER 28, 2014 - JPMorgan Chase (NYSE:JPM) announced today its Foundation is providing $1.4 million in grants to leading nonprofits that promote the financial capability of consumers in cities across the U.S. These grants are part of the firm's ongoing effort to identify, evaluate, and scale innovations that provide individuals both the tools and resources to promote lasting, positive changes in financial behavior.
"One in four households operates outside of the mainstream banking system, resulting in unnecessary fees and interest, according to the FDIC. Thanks to the work of Mission Asset Fund, CFED, and Greenlining, low- and moderate-income families will gain access to credit and begin building their household balance sheet. JPMorgan Chase is excited to partner with these dynamic organizations to help more people in underserved communities improve their financial stability and economic opportunity," said Janis Bowdler, Senior Program Director for Financial Capability and Affordable Housing, JPMorgan Chase Foundation.
Grants have been awarded as follows:
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.