Connect with us

Bay Area

Chase Bank Executive Reveals Ways Bank Supports Black Community

In 2020, [JP Morgan] Chase announced its $30 billion racial equity commitment, a five-year plan that includes assisting entrepreneurs in historically underserved areas to access coaching, technical assistance and capital. Chase has also provided 15,000 loans to small businesses in diverse communities.

Published

on

Myesha Brown. Photo courtesy of JPMorgan Chase.
Myesha Brown. Photo courtesy of JPMorgan Chase.

Honoring Black Achievement and Doubling Down on the Work to be Done During Black History Month and Beyond

February is Black History Month – an annual commemoration of the achievements of Black Americans and their remarkable impact on history. It’s a time to celebrate the cultural heritage shaped by generations of Black Americans, who for many decades have fought for equity – a fight that continues today.

Though advancements have been made, there is still so much work to be done in our communities in the pursuit of racial equity. For more on how JPMorgan Chase is honoring Black History Month, and how you can too, we sat down with Myesha Brown, Oakland Community Manager from the branch at 3005 Broadway, to discuss some impactful ways to celebrate and support the Black community, not just this month – but all year long.

Oakland Post: What type of investments is Chase making to bolster the financial health of its Black customers and communities?

Brown: Let’s first talk about Black History Month. We’re committed to driving real and sustainable change for the Black community here at Chase and around the world. We’re using this time to both reflect on the past, aswell as our commitment to build a more equitable future for all people.

From the way we do business to the policies we advocate for, our commitments are part of a continued effort to bring an enhanced equity lens to JPMorgan Chase’s businesses and how we serve all customers, clients, communities and employees.

And so, our work to support the Black community goes beyond banking. By providing growth opportunities for diverse-owned small businesses, increasing homeownership rates, providing better access to affordable housing and more, Chase is committed to helping close the racial wealth gap and driving economic inclusion. We’re also giving underbanked communities better access to the necessary resources to improve financial health.

But the work doesn’t stop there. Every day we collaborate with community partners, policymakers, customers and employees to continue improving the financial health of underrepresented communities.

Oakland Post: How is Chase helping to accelerate Black-owned businesses?

Brown: In 2020, Chase announced its $30 billion racial equity commitment, a five-year plan that includes assisting entrepreneurs in historically underserved areas to access coaching, technical assistance and capital. Chase has also provided 15,000 loans to small businesses in diverse communities.

Additionally, Chase offers a suite of helpful tools for Black and diverse-owned businesses. For example, we offer one-on-one counseling with a business banking professional, access to the Chase for Business Resource Center and membership to the JPMorgan Chase Supplier Diversity Network (SDN).

Oakland Post: What are some ways people can support the economic growth of the Black community?

Brown: Black History Month is a great reminder that, while some advancement has been made, there is room for improvement.

In February 2019, JPMorgan Chase launched Advancing Black Pathways (ABP) to strengthen the economic foundation of the Black community. ABP focuses on four key areas where there are racial and economic disparities that can create barriers to long-term financial success: careers and skills, business development, financial health and wealth creation, and community development.

These four key areas acknowledge the power and importance that entrepreneurship plays in the Black community Unfortunately, the racial wealth gap widened during the COVID-19 pandemic, with only 5% of Black Americans holding business equity — a key driver of wealth — compared to 15% of white Americans.

There are many impactful ways to support economic growth of Black Americans on local and national levels, during Black History Month and all year long. Consider these opportunities:

  • Purchase a product from, or solicit the services of, a Black-owned business.
  • Spread the word about your favorite Black-owned brands.
  • Donate to a nonprofit that is working to advance racial equity.
  • Follow a Black business on social media and engage with their posts to help build their online presence.

We know that owning a business represents the best path to the middle class. So, if we are to make meaningful progress in closing the racial wealth divide, entrepreneurship must be a key part of the equation. We can never lose sight of that dream.

Sponsored content from JPMorgan Chase & Co. To learn more about how Chase can guide your business to the right resources, please visit the following sites: Chase’s new program to empower diverse small businesses: https://www.chase.com/businessconsultant and Advancing Black Pathways: https://www.jpmorganchase.com/impact/people/advancing-black-pathways.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Activism

Oakland Post: Week of February 5 – 11, 2025

The printed Weekly Edition of the Oakland Post: Week of February 5 – 11, 2025

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

Oakland Post: Week of January 29 – February 4, 2025

The printed Weekly Edition of the Oakland Post: Week of January 29 – February 4, 2025

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

Oakland Poll: Tell Us What You Think About the Cost of Groceries in Oakland

Food banks and grocery giveaways are a large part of the resources nonprofits in Oakland prioritize, particularly in areas like East and West Oakland where low-income families of color tend to reside. These neighborhoods are often labeled as “food deserts” or communities that have limited access to affordable and nutritious foods.

Published

on

Oakland Poll: Tell Us What You Think About the Cost of Groceries in Oakland
Oakland Poll: Tell Us What You Think About the Cost of Groceries in Oakland

By Magaly Muñoz

In 2023, the average spending on groceries increased by nearly $30 each month from the year before;people are spending over $500 a month to put food on the table.

Through previous reporting by the Post, we’ve learned that families in Oakland are depending more and more on free or low cost groceries from food banks because they can no longer afford the rising costs of food at the store.

Food banks and grocery giveaways are a large part of the resources nonprofits in Oakland prioritize, particularly in areas like East and West Oakland where low-income families of color tend to reside. These neighborhoods are often labeled as “food deserts” or communities that have limited access to affordable and nutritious foods.

We’ve recently spoken to families across these two areas of Oakland and have heard several stories that all point to one problem: food is expensive. Some individuals are spending upwards of $150 a week for themselves or double if they have teens or small children in the family.

We’ve also heard stories of people with chronic illnesses like diabetes and high blood pressure struggling to maintain their diets because they’re having a hard time affording the food that helps them stay healthy.

Do these experiences sound similar to what you or your family are dealing with every month? Are you struggling to afford your basic groceries every week? Do you depend on food banks to help you get by? Are there any chronic illnesses in your household that need to be managed by a special diet?

We want to hear about your experiences and ideas for solutions!

The Oakland Post is investigating food access in Oakland and how residents are surviving as the cost of living continues to increase. Your experiences will help shape our reporting and show local leaders the need to invest in our communities.

In order to get as much feedback as possible, we ask that you click this link to fill out a brief questionnaire or visit tinyurl.com/Oakland-Post-food-survey. You can also scan the QR code above to reach the survey. After you fill it out, please consider sharing the link with your friends and family in Oakland.

If you have questions, please reach out to our Oakland reporter Magaly Muñoz at mmunoz@postnewsgroup or text/call her at (510) 905-5286.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.