Chase announced that it will open more than 40 additional branches in the Greater Philadelphia area, making its current footprint to over 100 locations in the state of Pennsylvania, by the end of 2027. The bank will also hire more than 300 employees locally over the next three years. Amid a record-breaking pace of branch closures among competitors, Chase is leading a surge of new bank branches, announcing 500 more nationwide today.
“Philadelphia’s remarkable progress has exceeded expectations, and we are dedicated to ensuring that more individuals can seize the opportunities this city represents,” said Jennifer Roberts, CEO, Chase Consumer Banking “Our expanded branch network, alongside the creation of new job opportunities, will play a pivotal role in strengthening the local economy”.
Chase has the largest branch network in the United States and is the only bank to have branches in all lower 48 states. Over the past five years, Chase has added more than 650 branches, with 400 locations in 25 new states, including locally in Pennsylvania, South New Jersey, and Delaware. The bank opened its first two branches in the state capital of Harrisburg Pennsylvania in 2023, and currently has 57 branches open across the region.
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“Expanding our presence in the Greater Philadelphia region means even more actively contributing to local economic growth and providing exceptional financial services to the communities we serve,” said Tina Vega, Regional Director for Chase in Pennsylvania. “Philadelphia is home to so many valued customers, clients, employees and community partners – many new since we opened our first branch here in 2018. We are proud to contribute to the city’s progress and prosperity through our continued investments and initiatives”.
JPMorgan Chase has had a presence in Greater Philadelphia for over 20 years with its Private Bank, and Commercial Banking teams. In the last five years, the company has accelerated its growth and deepened its presence locally by adding branches, new teams and hiring employees.
The bank’s growing branch network alone has generated 300 new jobs, demonstrating the firm’s commitment to fostering employment opportunities in the region. In Greater Philadelphia, Chase offers a minimum of $20 – $25 per hour locally, as minimum base pay for U.S. overtime-eligible employees, as well as a comprehensive benefits package, which is valued on average at approximately $16,647 per employee.
Community Impact
Since 2019, the firm has committed over $24 million to philanthropic initiatives in the region – including a $5 million commitment to PIDC Community Capital to recruit, train, and place underrepresented tradespeople into expanded apprenticeships and hiring pipelines across 21 building trades unions. In tandem with these efforts, the firm is deepening relationships and expanding our presence through our branches, including the West Philadelphia Community Center branch. These branches serve as hubs, hosting more than 210 free and open-to the-community events, including financial health workshops, skills training, and small business pop-ups.
Additionally, the firm committed $3.5 million to a five-year permanent loan to Mission First Housing
Group to finance the development of a community with 110 affordable housing units.
By: Press release
Noticias Newswire
