JP Morgan Chase 2015 Annual Report Download - page 74

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2015 HIGHLIGHTS AND ACCOMPLISHMENTS
Developing local economies and
communities
• Provided $3.1 billion to low- and
moderate-income communities
through community development
lending and equity investments.
• Awarded $48 million since 2014
to networks of community
development nancial institutions
(CDFI), providing capital to small
businesses and community
projects unable to qualify for
traditional loans. The initial $33
million investment with 42 CDFIs
leveraged an additional $226
million of capital to preserve
aordable housing and support
small business growth in low-
income communities.
• Provided $3 million to support
the launch of a $30 million
National African American Small
Business Loan Fund managed by
the Valley Economic Development
Centers to provide entrepreneurs
in Chicago, Los Angeles and New
York with exible capital to grow
their businesses.
• Committed nearly $6 million since
2014 to support skills-based
summer employment opportuni-
ties for young people, including
more than 3,200 jobs and work-
related opportunities in 2015.
• Provided $2.2 million to support
implementation of global engage-
ment strategies in cities across
the United States and released
proles on the economic competi-
tiveness of Stockholm and
Johannesburg through the Global
Cities Initiative, a joint project
of the Brookings Institution and
JPMorgan Chase that promotes
sustainable economic growth.
Increasing financial capability
• Committed $45 million since
2014 to nonprots, helping more
than 1 million low-income individ-
uals in 11 countries acquire the
knowledge and tools needed to
promote their nancial health.
• Launched the Catalyst Fund with
the Bill & Melinda Gates Founda-
tion to provide $2 million in
funding and mentorship to social
entre-preneurs in emerging
markets focused on breakthrough
technology innovations for
consumers globally.
• Announced nine winners of the
Financial Solutions Lab
competition to identify nancial
technology products that help
U.S. households manage cash
ow challenges. Winners received
$3 million in capital, technical
assistance and mentorship to
accelerate their development.
The Lab is a $30 million program
launched with the Center for
Financial Services Innovation to
identify and scale promising
innovations to improve consumer
nancial health.
• Committed $7.5 million to the
Accion Frontier Inclusion Fund to
promote innovations in nancial
services in emerging markets.
JPMorgan Chase has deployed
$68 million to impact invest-
ments that have helped improve
the livelihoods of more than 58
million people.
• Supported the new BankOn 2.0
national account standards to
provide “safe” accounts for
consumers just entering the bank-
ing mainstream. Chase Liquid®
has been identied as a model
account that meets these
important new standards.
Supporting service members,
veterans and their families
• Announced the evolution of the
100,000 Jobs Mission — an
employer coalition founded by
JPMorgan Chase and 10 other
companies in 2011 to hire veter-
ans. The newly named Veteran
Jobs Mission reects the coalition’s
growth to 220 employers commit-
ted to hiring 1 million veterans.
Since 2011, members have hired
more than 314,000 veterans —
over 10,000 of those hires were
made by JPMorgan Chase.
• Donated more than $7.5 million
in the second year of a $20 million
commitment to the Philanthropy-
Joining Forces Impact Pledge
in support of veterans and their
families.
• Renewed support to Syracuse
University’s Institute for Veterans
and Military Families through a
$14 million contribution through
2020. In addition to other proj-
ects, this contribution will con-
tinue to wholly fund the Veterans
Career Transition Program through
which more than 3,400 post-9/11
veterans and military spouses
have earned 4,600 certicates
since 2011.
• Supported military families in
need by donating more than 800
mortgage-free homes, valued at
nearly $150 million, through the
rm’s nonprot partners.
Engaging local communities
• Engaged more than 47,000
employees in volunteer service and
sent 32 top managers to Detroit and
Mumbai to apply their expertise full
time to help our nonprot partners
expand their capacity to serve local
communities.
• Provided more than 31,000 hours
of skilled volunteerism through
Technology for Social Good, a pro-
gram that harnesses the technical
experience of our employees to
develop innovative technology
solutions for nonprots. Technol-
ogy for Social Good delivered
$3.3 million in social value to
over 100 nonprots globally.
• Completed the rst year of the
expansion of The Fellowship
Initiative, a JPMorgan Chase
program that prepares 120 young
men of color to succeed in high
school, college and beyond.
Fellows participated in more than
30 days of extracurricular aca-
demic and leadership programs,
including an All Star Code tech-
nology development workshop.
Promoting innovation in
sustainable investment
• Continued support for Nature-
Vest, which structured the rst-
ever climate adaptation debt
swap to protect 30% of the
marine territories of the Seychelles.
In 2014, JPMorgan Chase was the
founding sponsor of NatureVest,
The Nature Conservancy’s
conservation nance unit.
• Underwrote more than $4 billion
in green and sustainability-
themed bonds and committed and
arranged approximately $2 billion
of capital for renewable energy
projects in the United States.
• Launched the Dementia Discovery
Fund in partnership with the U.K.
government, which has attracted
more than $100 million from
leading pharmaceutical companies
for investments into new treat-
ments for dementia.