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Our Progress
In 2023, we opened two new Community Center branches, bringing our total to 16 across the U.S. Our Community Center branches continue to host community events, financial health workshops, skills training and small business pop-up events. Approximately 300 branches across our network have been designated as community style branches and also host financial health education events.
To learn more about our progress, see our 2023 ESG Report.
Innovative Products
As part of our Racial Equity Commitment, we pledged to help one million consumers open low-cost checking or savings accounts over five years through expanded awareness of our Chase Secure Banking product.
In 2023, we helped customers open more than 317,000 net new low-cost checking accounts with no overdraft fees. Since its launch in 2019, we have made Chase Secure Banking available to more than 1.8 million accounts to help people access mainstream banking.
Community Managers
Approximately 150 Community Managers across the U.S. work to help increase awareness of financial health resources, including by hosting interactive programs in their communities and connecting community members with experts on topics such as budget building, understanding credit, saving, investing, small business and homeownership.
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 Community 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.
Access to banking services, including branches, products, and people, is critical to improving the financial health of Black, Hispanic and Latino households and their communities. This includes safe and affordable bank accounts, an increased branch presence in underserved neighborhoods, and tailored financial guidance to help customers reach their unique goals. Through our new Community Center branches and Community Managers on the ground, we hope to build stronger relationships with our communities and help customers establish a better financial future.
Jennifer Roberts, CEO, Chase Consumer Banking
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