Chase Bank is significantly investing in its physical presence, announcing plans to open over 500 new branches, renovate approximately 1,700 existing locations, and create 3,500 new jobs within the next three years. This ambitious expansion aims to broaden access to banking services and deliver convenient, affordable financial solutions to a wider range of customers and communities nationwide.
This multi-billion dollar commitment underscores Chase’s dedication to fostering local economic growth. The expansion will stimulate construction activities, generate ongoing community investments, and prioritize local hiring, creating substantial opportunities for residents across the bank’s extensive footprint.
Building a Modern Chase Bank Branch Network for the Future
Chase already boasts the largest branch network in the United States, uniquely positioned as the only bank with branches in all of the contiguous 48 states. Over the past five years, Chase has already expanded its reach by adding over 650 branches, including 400 in 25 new states. Upon completion of this new expansion initiative, Chase will have added more than 1,100 branches and welcomed over 10,500 new employees to its Consumer Bank team since 2018, significantly enhancing the overall customer experience at a Chase bank branch.
Jennifer Roberts, CEO of Chase Consumer Banking, highlighted the continued relevance of physical branches in today’s banking landscape. “Every day, approximately 900,000 individuals visit a Chase bank branch to conduct transactions, like cashing checks or making deposits, or to consult with our experts on crucial financial decisions,” Roberts explained. “This significant investment ensures that our Chase bank branch locations continue to meet the evolving needs of the communities we are committed to serving, both today and in the future.”
In addition to new branch openings, Chase is committed to modernizing its existing infrastructure. The renovation of approximately 1,700 locations over the next three years will bring the total number of renovated branches since 2021 to an impressive 3,000, ensuring a consistent and updated experience across the Chase bank branch network.
Community-Focused and Affluent Client Branches
Chase is further tailoring its branch strategy by expanding its network of Community Center branches and introducing new J.P. Morgan branches. Three new Community Center branches are slated to open in 2024 in the Bronx and Brooklyn, NY, and Columbus, OH, adding to the existing 16 locations nationwide. These branches are intentionally located in areas historically underserved by traditional banking, often in urban communities with significant Black, Hispanic, and Latino populations. Community Center branches are designed to be welcoming and inclusive, featuring local artwork, flexible spaces for community events and financial literacy workshops, skills training, and even pop-up storefronts for small businesses.
Diedra Porche, Head of Chase Community and Business Development, emphasized the welcoming atmosphere of these branches. “We want everyone to feel comfortable when they step into a Chase bank branch,” Porche noted. “We understand that visiting a bank can sometimes be intimidating. Our Community Centers are specifically designed to address this by creating a more approachable and supportive environment. By hiring locally, we ensure that customers can often speak with a neighbor who understands their needs when they require assistance with anything from buying a home to saving for retirement or simply opening a checking account at a Chase bank branch.”
Furthermore, Chase is expanding its services for affluent clients with the introduction of over 20 J.P. Morgan branches across the country. The first locations in Columbus Circle, NY, and Pine Street, San Francisco, are already underway, with the remaining locations expected to be completed by the end of 2024. These new J.P. Morgan branches, many converted from former First Republic offices, will offer a premium banking experience, combining the resources of JPMorgan Chase with First Republic’s renowned client service model. These locations will feature open meeting spaces, private consultation rooms, and libraries, catering to clients’ banking, lending, and wealth management needs.
“These new branches will provide clients with access to a comprehensive suite of banking, lending, and wealth management services, offering the best of both JPMorgan Chase’s robust platform and First Republic’s dedication to exceptional client service,” added Roberts.
Chase currently serves approximately 80 million consumers and nearly 6 million small businesses, offering a wide array of financial services, from personal banking and credit cards to mortgages, auto financing, investment advice, and small business loans. Customers can access these services through a variety of channels, including the extensive Chase bank branch network of over 4,700 branches, more than 15,000 ATMs, online, mobile, and phone banking options.
For further details and updates about Chase bank branch locations, products, and services, please visit Chase.com.
About Chase
Chase is the U.S. consumer and commercial banking arm of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.9 trillion and operations spanning worldwide. Chase serves nearly 80 million consumers and almost 6 million small businesses, providing a broad spectrum of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans, and payment processing. Customers have the flexibility to bank how and where they prefer: through over 4,700 branches across 48 states and the District of Columbia, over 15,000 ATMs, mobile and online platforms, and telephone banking. For more information, please visit chase.com.
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Iba Reller
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