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We continued our efforts to improve the financial health of our customers and communities by opening 13 additional Community Center branches and 76 additional branches in low-to-moderate income communities. 400,000 net new low-cost Secure Checking accounts were opened with no overdraft fees and we have hired 146 Community Managers, who host financial health workshops and community events across the country.
Continuing to Innovate
In 2022, we launched Early Direct Deposit, which allows customers to receive their paychecks two days early. This feature is exclusively for our Chase Secure Checking product, which is Bank On-certified low-cost checking account with no overdraft fees.
Hiring 150 Community Managers and Opening New Branches
We’re hiring 150 community managers by 2022 to foster community engagement in low-to-moderate income neighborhoods and majority-Black, -Hispanic and -Latino and other diverse communities—and opening 16 new Community Center branches in underserved neighborhoods.
We are building branches in cities across the country, including 30% in low-to-moderate income communities, and delivering free financial health information in-person and online.
Hosting Seminars in Majority-Black, -Hispanic and –Latino Communities
We’re holding educational community seminars on financial investments online and in branches across the country—and providing financial incentives for the adoption of self-directed, digital investing habits to help grow Black, Hispanic and Latino wealth.
We are building branches in cities across the country and delivering free financial health information in-person and online.
Supporting Wealth Building and Savings
We’re supporting a federal wealth and savings agenda to pilot portable benefits, incentivizing savings policies to help families build emergency savings, and seeding baby bonds to build wealth.
Supporting Black and Latino-led Financial Institutions
We’re investing more than $100 million in the form of capital and deposits in Black, Hispanic and Latino-owned Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). This includes a total of 14 diverse-led financial institutions, impacting more than 87 communities across 18 states and the District of Columbia- and we will continue to mentor and advise select MDIs and CDFIs to help them achieve future success.