As JPMorganChase’s Harlem Community Center Branch on 125th Street reached its fifth anniversary this past fall, we look back at the impact of this unique neighborhood resource.
Opened in 2019, Chase’s flagship Community Center Branch in Harlem was the first of its kind in the nation, pioneering a new model of community-focused banking. The facility was designed, built, and programmed in collaboration with local organizations to offer specialized financial health resources for Harlemites, including programs to strengthen financial literacy, assist small businesses, and build wealth in the community.
“Our success in Harlem isn’t charity, it’s good business. By providing access to banking, credit and investment services, and offering the tools and education to take full advantage of all we can offer, we are building stronger, more vibrant communities, which leads to better outcomes,” said JPMorganChase Chairman and CEO Jamie Dimon.
With the goal of being the bank for all, JPMorganChase invests in and provides programming around small business growth, affordable homeownership and financial education programs, all aimed at uplifting the local economy and helping residents build generational wealth.
Small Business Equals Big Returns
The New York City Housing Authority (NYCHA) Business Pathways program provides support for NYCHA residents forming and expanding small businesses. JPMorganChase invests in the program, offering residents the opportunity to grow food, childcare and construction businesses. Graduates are able to lay a strong business foundation that helps them get their first contracts with vendors like NYCHA. Contract relationships provide stable, regular revenue for small businesses and are key for any venture to thrive. Entrepreneurs continue to have access to grants, resources and referrals that help their businesses thrive long after completing the program.
Home is Where the Heart Is
Tendai Watkins, a Brooklyn resident, successfully purchased her first home with the assistance of Community Home Lending Advisors (CHLA) Daryl Newkirk, who provided Tendai with the support needed to navigate the homebuying process confidently. Understanding that homeownership is a key pathway to building generational wealth, Chase established a team of CHLAs who specialize in local housing and down payment assistance programs. These advisors guide potential homeowners through the complexities of purchasing a home, offering tailored advice and educational resources.
Financial Health + Education = Success
Recognizing that generational wealth begins with a strong foundation in financial health, Chase extends its commitment to community through financial education. Their team of Community Managers connect residents in New York City with financial health resources by offering workshops on topics like building credit, budgeting, home buying, and saving for college. Many are hosted at the Harlem Community Center branch. Chase’s Community Managers recently partnered with Good Shepherd Services to host a Banking 101 workshop on banking fundamentals and credit management, empowering students and young adults to make informed financial decisions and build a secure future.
The work continues in Harlem where Chase has had a presence since the 1960s and has assisted the financial needs of Harlemites for generations. The Harlem Community Center Branch is a commitment from the firm that will continue to empower Harlem for years to come.