Chase announced today that it will continue its investment in California by opening about 100 branches and adding more than 1,500 jobs to better serve customers in 2011.
The new branches will extend Chase’s network to more than 900 bank branches and more than 3,000 ATMs across California.
Chase will open:
- About 65 branches in Southern California, including Los Angeles, Ventura, Riverside, San Bernardino, Orange and San Diego counties;
- About 20 branches in Northern California, including San Francisco Bay Area and Sacramento Delta; and
- About 15 branches in Central California, including Kern, Tulare, Fresno and Madera counties.
“California is one of Chase’s high-priority growth markets, and we plan to invest significantly in the people, facilities and technology needed to serve California consumers and businesses well,” said Pablo Sanchez, head of Chase’s branch network in the Western United States. “We are creating many jobs, including construction workers to build the branches, vendors to provide services to Chase and, most importantly, branch employees to help our customers with their financial needs.”
Nearly half of Chase’s new branches in 2011 will be in California. It also plans to add a total of 525 to 700 branches in California by 2015.
Chase provides branch banking services, online and mobile banking, investments, credit cards, and mortgages and other loans to 14.5 million consumers and small businesses in the state. The company employs more than 18,500 people in the state and plans to invest $10 million through grants to California non-profits in 2011.
In the last two years, Chase also has opened 16 Homeownership Centers across California to provide face-to-face loan counseling to families struggling with mortgage payments. Chase counselors at the centers already have worked with more than 46,000 families.
“Our 12,000 branch employees in California – including personal and business bankers, mortgage officers and investment specialists – help families work to realize their financial goals,” Sanchez said.
Last year, JPMorgan Chase raised $24.3 billion in financing for local governments and non-profit organizations in California, and lent the state $3.125 billion during its cash flow challenges.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and 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.