Bay Area

Community Banking to Community Building

At the heart of our business is the local community bank branch. But a local bank branch, especially in underserved neighborhoods, can be successful only when it fits the community’s needs. That’s why, over the last several years, we have shifted our approach from community banking to “community building” – a boots on the ground approach to better serve the needs of our local communities.

Published

3 years ago

June 18, 2022

Oakland Post

As we celebrate Juneteenth this year, we are reminded of the promise and hope of the future.

Juneteenth is a day like no other. It is both a celebration of freedom and a reminder of the work that still must be done to bring about a more equitable society. So, as we recognize Juneteenth this year, now is the time to harness what unites us and help bring about changes that benefit all communities.

Taking actions focused on racial equity, along with diversity and inclusion, requires collaboration and building trust in the community. JPMorgan Chase is helping to drive sustainable changes through its five-year $30 billion racial equity commitment. With a business-led approach, this commitment aims to help address key drivers of the racial wealth divide in Black, Latino and Hispanic communities by investing in them directly.

Since its launch in October 2020, we have deployed or committed more than $18 billion toward our $30 billion goal. To sustain this progress, we must measure this effort and listen to feedback so we can have even greater impact in closing the wealth gap.

Here is just some of the progress we’ve made toward our commitment while working alongside our community partners across the country thus far:

Helped homeowners save money on their monthly mortgage payments by refinancing 19,000 of our 20,000 incremental loans goal
Approved funding for approximately $13 billion in loans to help create and preserve more than 100,000 affordable housing and rental units across the U.S.
Expanded our homebuyer grant program to $5,000 to help with down payment and closing costs
Helped customers open over 200,000 low-cost checking accounts with no overdraft fees
Spent an additional $155 million with 140 Black, Hispanic and Latino suppliers
Invested more than $100 million of equity in 15 diverse financial institutions that serve more than 89 communities in 19 states and the District of Columbia
Mentored more than 1,000 Black, Hispanic and Latino small businesses

Creating Community Impact

Our Community Center branches are the most tangible symbols of our commitment to community building, as they were created to be a unique space in the heart of urban communities that hosts grassroots community events, small business mentoring sessions and financial health seminars.

Currently, we have 12 Community Center branches in neighborhoods like in Oakland, Stony Island in the South Shore of Chicago, Crenshaw in Los Angeles, and Wards 7 and 8 in Wash., D.C.

We’ll continue to add these Community Center branches in underserved communities in Miami, Atlanta, Baltimore, Philadelphia and Tulsa by the end of this year. We’ve also retrofitted over 300 existing branches, to now include spaces for the community to use to help expand access to banking and boost financial health and inclusion among Black, Hispanic and Latino communities.

A More Diverse Workforce

Creating a lasting impact is just as much about the people we hire as it is about the programs we implement. More diverse teams will allow us to generate better ideas and better outcomes, enjoy a stronger corporate culture and deliver a more transformational banking experience to our customers.

Despite the pandemic and talent retention challenges, we continue to boost our representation especially among women and people of color.

We want our branches to represent the neighborhoods they serve, which is why we continue to hire from our local communities. During this time, we’ve hired more than 300 people to community-focused roles: nearly 150 Community Managers, 150 Community Home Lending Advisors, as well as 25 diverse Senior Business Consultants.

The Community Center Manager, in particular, is a new role within the bank whose main job is to serve as local ambassadors to build trust and nurture relationships with community leaders, nonprofit partners, and small businesses.

Over the last year our Community Managers have hosted more than 1,300 community events reaching more than 36,000 nationwide with discussions ranging from ways to increase homeownership, and how to build generational wealth and stability.

As we celebrate Juneteenth this year, we are reminded of the promise and hope of the future.

We are committed to ensuring that you have the resources you need to own a home, start a business, save for college – or achieve any other goals or dreams. We look forward to working together and continuing to create lasting impact for your community and family for years to come.

Sponsored content from JPMorgan Chase & Co

Oakland Post

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Bay Area

Glydways Breaking Ground on 14-Acre Demonstration Facility at Hilltop Mall

Glydways has been testing its technology at CCTA’s GoMentum Station in Concord for several years. The company plans to install an ambitious 28-mile Autonomous Transit Network in East Contra Costa County. The new Richmond facility will be strategically positioned near that project, according to Glydways.

Published

2 days ago

December 24, 2024

Oakland Post

Image of planned Richmond facility courtesy of Glydways.

The Richmond Standard

Glydways, developer of microtransit systems using autonomous, small-scale vehicles, is breaking ground on a 14-acre Development and Demonstration Facility at the former Hilltop Mall property in Richmond, the Contra Costa Transportation Authority (CCTA) reported on social media.

Glydways, which released a statement announcing the project Monday, is using the site while the mall property undergoes a larger redevelopment.

“In the interim, Glydways will use a portion of the property to showcase its technology and conduct safety and reliability testing,” the company said.

The new Richmond development hub will include “over a mile of dedicated test track, enabling Glydways to refine its solutions in a controlled environment while simulating real-world conditions,” the company said.

Visitors to the facility will be able to experience on-demand travel, explore the control center and visit a showroom featuring virtual reality demonstrations of Glydways projects worldwide.

The hub will also house a 13,000-square-foot maintenance and storage facility to service the growing fleet of Glydcars.

“With this new facility [at the former Hilltop Mall property], we’re giving the public a glimpse of the future, where people can experience ultra-quiet, on-demand transit—just like hailing a rideshare, but with the reliability and affordability of public transit,” said Tim Haile, executive director of CCTA.

Janet Galvez, vice president and investment officer at Prologis, owner of the Hilltop Mall property, said her company is “thrilled” to provide space for Glydways and is continuing to work with the city on future redevelopment plans for the broader mall property.

Richmond City Manager Shasa Curl added that Glydways’ presence “will not only help test new transit solutions but also activate the former Mall site while preparation and finalization of the Hilltop Horizon Specific Plan is underway.

Oakland Post

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Alameda County

Last City Council Meeting of the Year Ends on Sour Note with Big Budget Cuts

In a five to one vote, with Councilmembers Carroll Fife and Janani Ramachandran excused, the council passed a plan aimed at balancing the $130 million deficit the city is facing. Noel Gallo voted against the plan, previously citing concerns over public safety cuts, while Nikki Fortunato-Bas, Treva Reid, Rebecca Kaplan, Kevin Jenkins, and Dan Kalb voted in agreement with the plan.

Published

2 days ago

December 24, 2024

Oakland Post

Oakland City Council voted on a plan to balance the $130 million deficit at their last regular meeting of 2024. The plan reduces police spending by $25 million, temporarily closes two fire stations, and guts the cultural arts programs. iStock photo.

By Magaly Muñoz

In the last lengthy Tuesday meeting of the Oakland City Council for 2024, residents expressed strong opposition to the much needed budget cuts before a change in leadership was finalized with the certification of election results.

Oakland police and fire departments, the ambassador program, and city arts and culture will all see significant cuts over the course of two phases.

Phase 1 will eliminate two police academies, brown out two fire stations, eliminate the ambassador program, and reduce police overtime by nearly $25 million. These, with several other cuts across departments, aim to save the city $60 million. In addition, the council simultaneously approved to transfer restricted funds into its general purpose fund, amounting to over $40 million.

Phase 2 includes additional fire station brownouts and the elimination of 91 jobs, aiming to recover almost $16 million in order to balance the rest of the budget.

Several organizations and residents spoke out at the meeting in hopes of swaying the council to not make cuts to their programs.

East Oakland Senior Center volunteers and members, and homeless advocates, filled the plaza just outside of City Hall with rallies to show their disapproval of the new budget plan. Senior residents told the council to “remember that you’ll get old too” and that disturbing their resources will only bring problems for an already struggling community.

While city staff announced that there would not be complete cuts to senior center facilities, there would be significant reductions to staff and possibly inter-program services down the line.

Exiting council member and interim mayor Bas told the public that she is still hopeful that the one-time $125 million Coliseum sale deal will proceed in the near future so that the city would not have to continue with drastic cuts. The deal was intended to save the city for fiscal year 2024-25, but a hold up at the county level has paused any progress and therefore millions of dollars in funds Oakland desperately needs.

The Coliseum sale has been a contentious one. Residents and city leaders were originally against using the deal as a way to balance the budget, citing doubts about the sellers, the African American Sports and Entertainment Group’s (AASEG), ability to complete the deal. Council members Reid, Ramachandran, and Gallo have called several emergency meetings to understand where the first installments of the sale are, with little to no answers.

Bas added that as the new Alameda County Supervisor for D5, a position she starts in a few weeks, she will do everything in her power to push the Coliseum sale along.

The city is also considering a sales tax measure to put on the special election ballot on April 15, 2025, which will also serve as an election to fill the now vacant D2 and mayor positions. The tax increase would raise approximately $29 million annually for Oakland, allowing the city to gain much-needed revenue for the next two-year budget.

The council will discuss the possible sales tax measure on January 9.

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Activism

Living His Legacy: The Late Oscar Wright’s “Village” Vows to Inherit Activist’s Commitment to Education

Kingmakers of Oakland (KOO), a nonprofit organization that works to improve educational and life outcomes for Black boys and men, stated that “Oscar Wright is one of the most prolific, consistent, and committed advocates of equity for Black students and Black Families here in Oakland for the past six decades.”

Published

2 days ago

December 24, 2024

Oakland Post

Oscar Carl Wright, 101, who passed away on Nov. 18, was still involved in Oakland’s educational affairs until his death.

By Antonio‌ ‌Ray‌ ‌Harvey‌, California‌ ‌Black‌ ‌Media‌

Activists mourning Oscar Carl Wright’s death, have pledged to continue his lifelong mission of advocating for Black students and families in Northern California.

Wright, 101, who passed away on Nov. 18, was involved in Oakland’s educational affairs until his death.

Now, friends and admirers acknowledge that carrying on his legacy means doubling down on the unfinished work that Wright dedicated his life, time, and resources to, according to Y’Anad Burrell, a family friend and founder of San Francisco-based Glass House Communications (GHC).

“Mr. Wright did a lot of work around equity, specifically, for Black students based on their needs — whether it was tutoring, passing classes, or graduating,” Burrell said.

Wright became a champion for his children’s education, recognizing the disparities between their school experiences and his own upbringing in the Mississippi Delta.

Burrell told California Black Media (CBM) that the crisis of unequal access to resources and a quality education continues to affect the Oakland Unified School District (OUSD).

According to Oakland Reach, in the city of Oakland, only 3 in 10 Black and Brown students are reading at or above grade level. In addition, only 1 in 10 are doing math at or above grade level.

Oakland REACH is a parent-run, parent-led organization. It aims to empowers families from the most underserved communities to demand high-quality schools for their children.

Wright’s work as an activist had impact across the state but he was primarily known in the Bay Area. Alongside the Black United Front for Educational Reform (BUFER), he filed a complaint against OUSD for violating the Civil Rights Act of 1964.

In 2000, the OUSD school board proposed an action plan to address educational inequity, but it was never implemented.

Wright later founded the African American Honor Roll Celebration at Acts Full Gospel Church, an award that recognizes Black students with a grade point average of 3.0 or better.  Each year, more than 1,000 students are honored at this ceremony.

Burrell said that one of the main reasons Wright’s work was so essential for families and children in Oakland that is the direct relationship between acquiring a quality education and affording quality housing, maintaining food security, achieving mental wellness, and securing stable employment.

Wright was the child of sharecroppers from Coahoma County, Mississippi. He attended Alcorn State University, a Historically Black College and University (HBCU).

In the late 1950s, Wright and his family relocated to the Bay Area where he worked as a contractor and civil engineer. He later became an active member of the National Association for the Advancement of Colored People (NAACP).

Burrell said the people who will carry on Wright’s work are part of a “village” that includes KOO’s CEO Chris Chatmon.  Wright was a mentor to Chatmon.

“It will not be one entity, one person, or one organization that picks up the baton because it was a village effort that worked alongside Mr. Wright for all these years,” Burrell said.

Burell says that legacy will live on.