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Chase Community Branch to Empower Black and Brown Start-Ups

During the ribbon cutting ceremony before an audience of about 40 people, JPMorgan Chase CEO Jamie Dimon addressed executive staff members of Chase from various regions in California along with local staff and community members. For Dimon, community banks represent the changes he hopes to see in the world for future generations. Dimon also said the George Floyd murder and the pandemic shed light on the racial disparities in communities of color. “Disparities are not something we were unaware of, but it did spotlight the need to do more.”

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JP Morgan Chase CEO Jamie Dimon with branch manager Latanya Millican of Chase’s Community Bank in Oakland at 3005 Broadway at the bank’s ribbon-cutting ceremony. Photo by Carla Thomas.

By Carla Thomas

On Dec. 8, JPMorgan Chase & Co. celebrated the grand opening of an innovative bank branch experience in downtown Oakland.

With a mission to help more Black and Latino start-ups and small businesses, the new Community Center branch will provide Oakland residents with financial tools and resources, including access to funding, mentoring and pop-up space for entrepreneurs.

Located at 3005 Broadway, the site is the first of its kind in Northern California, and only one of 12 among Chase’s nearly 5,000 branches nationwide.

“This is all about Oakland,” said branch manager Latanya Millican, who has served Chase for nearly 30 years. “This is a celebration of reaching our community with resources beyond traditional banking. At our branch, clients will be welcomed with opportunities to launch their business, expand their business, and secure closing costs on homes in addition to our traditional banking services.”

During the ribbon cutting ceremony before an audience of about 40 people, JPMorgan Chase CEO Jamie Dimon addressed executive staff members of Chase from various regions in California along with local staff and community members.

For Dimon, community banks represent the changes he hopes to see in the world for future generations. Dimon also said the George Floyd murder and the pandemic shed light on the racial disparities in communities of color. “Disparities are not something we were unaware of, but it did spotlight the need to do more.”

For Dimon, ‘more’ includes offering $5,000 homebuyer grants to help cover closing costs and down payments and increasing affordable housing and home ownership by providing $300 million in construction, permanent loans, and low-income housing tax credits over the past five years.

In 2020, the company committed to a $75 million, five-year investment in Oakland and San Francisco through long-term, low-cost loans and philanthropy to provide more affordable housing, and protect local residents from displacement.

“Our firm has committed $30 billion to advance racial equity and drive economic opportunities for Black, Latino and Hispanic communities, and the new centers are designed to accelerate minority, small-business growth in the country,” said Dimon.

“He’s like the modern-day Robin Hood,” said Betty Uribe, head of retail for California at Chase in describing Dimon.

Chase has also supported local organizations like the East Bay Asian Local Development Corporation (EBALDC) and The Unity Council and their mission of preserving affordable housing in Oakland neighborhoods with a $35 million loan through the Housing for Health Fund.

“We’re putting our communities first and this new hub will serve as a place where dreams are going to be hatched and brought to fruition,” Oakland Mayor Libby Schaaf said.

“After collaborating with my Chase Senior Business Consultant Nykole Prevost, myself and our director of operations were able to identify areas where the business can really impact our local communities on a faster timeline then we originally envisioned,” Derrick Hill, founder and president of Hill & Quality Associates, LLC, said.

Attendees also included Chase associates September Hargrove, Northern California director for Community Banking at JPMorgan Chase & Co.; Jonathan Morales, head of Community and Business Development for Chase in California; Nykole Prevost, senior business consultant, at Chase and Ben Walter, Chase Business Banking CEO.

Business

Trader Vic’s Returns to Its Oakland Roots

Trader Vic’s, the internationally recognized brand and birthplace of the original Mai Tai, has officially returned to its roots in Oakland. Originally founded in 1934 on San Pablo Avenue before moving to Emeryville, the hospitality giant has launched Trader Vic’s Outpost at Oakland International Airport’s Terminal 2. The new full-service location offers travelers breakfast, lunch, dinner, and cocktails in a 108-seat space designed to celebrate the city’s status as a top national food destination. Visit the website to read more.

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Oakland Mayor Barbara Lee cuts the ribbon at the official opening of Trader Vic’s Outpost and Plum Market at Oakland International Airport. She is assisted by U.S. Rep. Lateefah Simon as Port of Oakland Board President Stephanie Dominguez Walton, left, and representatives from Trader Vic's, Plum Market, look on. Photo courtesy of the mayor’s office.

Oakland has always been a city of innovators, entrepreneurs, visionaries, and world-class hospitality. Trader Vic’s—the birthplace of the original Mai Tai – first opened in Oakland back in 1934 on San Pablo Avenue, long before becoming an internationally recognized global brand. 

More than 50 years after it moved to Emeryville, Trader Vic’s is returning to its roots. Oakland Mayor Barbara Lee touts the return as another victory for Oakland.

“My administration is deeply committed to backing businesses like Trader Vic’s and Plum Market—partners who invest in our city, uplift our local workforce, and support thousands of local jobs,” Lee said.

The latest Trader Vic’s – called Trader Vic’s Outpost – is located at the Oakland International Airport in Terminal 2 near Gate 25 and had a soft opening in August.

With 108 dining seats, 28 bar seats and a counter for standing-room customers, travelers from around the world can have a full-service restaurant and bar experience or take-out for those with planes to catch.

Open from 6 a.m. to 10 p.m., breakfast, lunch, dinner, cocktails will be served.

Trader Vic’s returning to its roots confirms Condé Nast’s decision to name Oakland the #1 Food City in America two years in a row, and just earlier this month, ranked Oakland #6 on their list of Best Cities in the U.S.! 

“The opening at OAK is incredibly meaningful for us,” said Rhett Rosen, CEO of Trader Vic’s Hospitality Group, according to the company website. “Trader Vic’s was born in the Bay Area, and this new location gives us the chance to welcome travelers with a taste of that original spirit before they take off. It brings together everything people love about Trader Vic’s — great cocktails, flavorful food, warm hospitality and a little sense of escape — in a place that connects Oakland to the world.”

Trader Vic’s is an Oakland institution and one of the region’s most recognizable hospitality brands, said Port of Oakland Director of Aviation Craig Simon on the web site.

“Travelers are increasingly seeking dining options that are memorable, locally rooted, and uniquely representative of the communities they are visiting. Trader Vic’s delivers all of that while providing a high-quality food and beverage experience for our guests. We are proud to welcome this hometown favorite to Terminal 2,”

The original Trader Vic’s in Oakland:  

In 1934, with an investment of $500, Bergeron opened his initially small restaurant at 65th Avenue and San Pablo, serving comfort foods for lunch and dinner and beers and whiskeys. As his clientele grew, so did his restaurant, expanding space and menu options. After visiting this establishment, famed San Francisco Chronicle columnist Herb Caen proclaimed that the “best restaurant in San Francisco is in Oakland.” 

There were as many as 25 franchises worldwide, including the U.S. Trader Vic’s is now headquartered in Martinez.

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Business

Oakland Coal Terminal Backed by Trump Would Be Bigger, Dirtier Than Promised, Says Report

A recent feasibility study commissioned by potential investors says an Oakland coal terminal backed by President Donald Trump could export 13 million tons a year — three times the amount estimated in an earlier environmental review. Surprisingly, the report also contradicts devel

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East Bay residents have been fighting alongside No Coal in Oakland for more than a decade. Photo courtesy of No Coal in Oakland.

A recent feasibility study commissioned by potential investors says an Oakland coal terminal backed by President Donald Trump could export 13 million tons a year — three times the amount estimated in an earlier environmental review.

Surprisingly, the report also contradicts developers’ and project advocates’ repeated pledges that the coal would be stored in a covered terminal. Instead, the millions of tons of coal shipped annually from inland states to the West Gateway terminal in Oakland would be stored in “two open-air bunkers,” with about 150,000 tons of coal per stockpile, before being sent overseas, according to the  recent report cited by the L.A. Times. (https://ruic.utah.gov/wp-content/uploads/2026/09/Port-Study-RUIC-Bulk-Commodity-Ocean-Terminals-Study.pdf)

Residents and clean air advocates have long expressed concerns that coal dust would worsen pollution in West Oakland and throughout the East Bay.

The proposed site of the Oakland Bulk and Oversized Terminal (OBOT) is located at the former Army base near the Port of Oakland, which developer Phil Tagami has been trying for years to turn into a shipping terminal despite determined community opposition.

Trump announced a $75-million investment in the project in June, about a third of its estimated cost. The new terminal would be the largest coal export site on the West Coast, transporting coal to Japan, South Korea, Taiwan, Vietnam and Malaysia, according to the Trump administration.

Opponents say a new terminal would undermine years of progress cleaning up the air in West Oakland, which has a history of disproportionate pollution and high asthma rates due to its proximity to the port and other industry.

According to No Coal in Oakland organizer Ted Franklin, who has been active for 11 years in the fight to stop the coal terminal, the report indicates that investors may be looking for a cheaper way to build the terminal.

“We were shocked but not surprised” by the report, Franklin said. “Basically, it seems that the plan now is to store open piles of coal, which is a less expensive project than creating a completely enclosed facility.”

The threats that the project poses are real, but it faces a lot of economic and legal hurdles, he said.

Coal production is in permanent decline worldwide, he said, wondering who was going to “invest money in an industry that has no future.”

Further, the project has not yet attracted big investors. “There’s no bank, no financing, no financial institution backing this,” he continued.

A major legal hurdle facing the project is the passage of Assemblymember Mia Bonta’s bill, AB 40, the Community-First Coal Review Act, signed into law by Gov. Gavin Newsom on Sept. 30.

The law requires developers of large-volume bulk coal facilities to complete a full Environmental Impact Report (EIR) under the California Environmental Quality Act (CEQA) before they can operate. 

The law was specifically designed to block or delay the coal terminal project.

The report to potential developers was produced by consulting groups Norda Stelo and Wood Mackenzie in July and released this month. It was commissioned by the Rural Utah Infrastructure Coalition, made up of eight Utah counties that are considering investing about $43 million into the terminal to receive Utah coal.

The consultants produced their findings after visiting Oakland, examining engineering documents and holding discussions with Savage Cos., a Utah-based transport and logistics company selected to operate the facility

Research has shown that coal terminal operations can be dangerous to public health. The ports of Los Angeles and Long Beach moved away from open-air coal and petroleum coke storage three decades ago.

The report says that the site could process 12 million metric tons, or 13.2 million tons, of coal each year, three times more than the terminal’s approved environmental impact report from 2002 and its 2012 addendum. Neither document mentions coal specifically, but rather bulk commodities.

The coal arriving in Oakland could also be dirtier then had been previously stated, according to the report. Project officials previously said the terminal would handle only high-grade western bituminous coal from Utah, but the recent report says it will also handle Powder River Basin coal from Wyoming and Montana, known to be much dustier.

Nor does the report mention plans to cover the rail cars to prevent pollution, though project officials previously promised they would only utilize coal transported in covered rail cars.

“It appears the developers want to build something much bigger and more polluting than anything they previously revealed, either in court or to the West Oakland community,” said Colin O’Brien, deputy managing attorney at the nonprofit Earthjustice, speaking to the L.A. Times.

The report indicates that the project may be much more expensive and take longer to complete than anticipated. The Energy Department estimates the terminal will cost about $231 million, but the report places the price at between $430 million and $625 million.

The terminal will take 53 months to complete according to the report, significantly longer than Trump’s promise of exports beginning in 2028.

Ted Franklin’s column, “Utah Study Blesses Investment in Oakland Coal Terminal but Leaves Key Questions Unanswered” is available at https://nocoalinoakland.info/utah-study-blesses-investment-in-oakland/

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Oakland Post: Week of October 14 – 20, 2026

Oakland Post: Week of October 14 – 20, 2026

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