NEW YORK--(EON: Enhanced Online News)--Chase today announced that it has donated or sold at a discount more than $250 million in corporate-owned homes to community associations, municipalities, veteran groups and nonprofit housing providers across the country.
“Chase has a long history and commitment to helping build vibrant communities through a variety of corporate-wide programs”
Through the Chase Community Revitalization Program – begun in 2009 as part of a corporate-wide effort to help customers and communities cope with effects of the housing crisis – Chase has donated or sold homes at reduced prices to nonprofit housing organizations helping families rebuild from the housing crisis. Since program inception, the company donated or sold more than 5,300 properties in 43 states.
“Chase has a long history and commitment to helping build vibrant communities through a variety of corporate-wide programs,” said Ryan Crowley, head of Chase Government and Community Partnerships. “By responsibly donating about three homes a day through this initiative, Chase’s efforts have rehabilitated communities, spurred job growth and provided homes for thousands of low-to-moderate income families.”
Additionally, in 2011, Chase pledged to award 1,000 mortgage-free homes to military families by 2016. Since then, the company has provided more than 600 mortgage-free homes, amounting to more than $62 million, to military families.
“We are very proud of our relationship with JPMorgan Chase,” said Lot Diaz, vice president, housing and community development, National Council of La Raza. “Such partnerships, between the for-profit and non-profit sectors, shows that we all need to work together to further the national effort to stabilize housing in our communities.”
More than 450 organizations participate in these programs by renovating Chased-owned homes – creating jobs and improving their communities – and then donating, re-selling, retaining for affordable rental opportunities or using them as part of the services they offer in pursuit of their mission. Chase conducts post-renovation property inspections, tracks title filing and insures homes are sold within program parameters.
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.