BOSTON (CBS) – America’s largest bank is looking to put down roots in Boston’s economy, and bucking a national trend in the process.
Monday afternoon, JPMorgan Chase announced it is coming to New England, bringing 60 branches and 130 ATMs.
At Monday’s “Forbes Under 30” summit at City Hall Plaza, Chase Consumer Banking CEO Thasunda Duckett announced the investment will also bring more than 350 jobs to the region.
This is the reversal of a national trend. While many banks are cutting the number of branches, Chase is looking to expand its footprint in local communities.
“For our community it’s a place where they can open an account, they can get advice, they can have experiences. It is about making sure that we are their ‘wing man’ in building their financial health journey,” says Duckett.
Duckett also says that 10-20% of the branches will be in low to moderate income communities.
The first branch is set to open in Dedham in December, and a branch in Boston’s Downtown Crossing will open at the end of January.
The New England expansion is part of the firm’s $10 billion, five-year investment in its business and local economic growth.
Web Extra: ‘Women On The Move’ Program
Chase is actively hiring staff to support the new branches in New England. Entry-level employees will be paid no less than $18/hour and will receive a full benefits package.
As part of Chase’s community investment, the company is extending $10 billion in credit to women owned businesses over the next three years. The move is part of Chase’s expanded “Women on the Move” program. Focused on making a positive impact for women in business, consumers and the communities Chase serves.