JPM: JP Morgan Chase: JPMorgan Chase Announces Second Round of Charitable Grants for Superstorm Sandy Relief

  JPM: JP Morgan Chase: JPMorgan Chase Announces Second Round of Charitable
  Grants for Superstorm Sandy Relief

UK Regulatory Announcement

 Over $1 million will help nonprofits continue relief work in hard-hit areas

NEW YORK

JPMorgan Chase (NYSE:JPM) today announced the second round of grants as part
of its $5 million commitment to support charities providing relief to
communities impacted by Superstorm Sandy. The firm will give six organizations
a total of $1.1 million in grants to help them provide relief and restore
impacted communities in the tri-state area. The first round of grants included
$2 million to the American Red Cross for emergency response and up to $1
million in matched funds for employee donations to the American Red Cross,
World Vision and the United Way for immediate relief efforts.

“Many of our employees and customers are still coping with tremendous damage
from Superstorm Sandy – with power and gas outages, extensive property damage
and many local businesses that provide essentials like groceries destroyed.
Some have actually lost everything they owned,” said Jamie Dimon, Chairman &
CEO, JPMorgan Chase. “But we've rolled up our sleeves and are helping our
communities rebuild. We will continue to be one of the key engines toward this
recovery.”

The firm will give a total of $500,000 to Accion New York and New Jersey
Community Capital  (NJCC), who will partner with other organizations to help
microenterprises in New York and New Jersey stay in business. Accion and NJCC
will each receive $250,000 to provide select grants and bridge loans at
discounted rates with generous repayment options and grace periods. Funds will
be used to repair facilities, repair or replace equipment, replenish business
supplies, provide temporary transportation and storage needs, and pay
employees. Microenterprises are sole proprietors or small businesses with
fewer than 10 employees and revenues below $250,000 annually. Accion and NJCC
will also work with other partners to help identify businesses in need of
emergency assistance with continuity and restoration. Accion and NJCC are
nonprofit, community development financial institutions that provide financing
and technical assistance to organizations that support development in low- to
moderate-income communities.

All Hands Volunteers will receive $200,000 to assist with relief and recovery
efforts in Staten Island and the Rockaways. In addition, JPMorgan Chase
employees are volunteering with All Hands Volunteers. All Hands Volunteers is
a nonprofit organization that provides hands-on assistance to communities in
need and those suffering in the wake of natural disasters.

Feeding America will receive $200,000 to meet the increasing needs of food
banks in New Jersey. The funding will enable the Community FoodBank of New
Jersey and The Food Bank of Monmouth and Ocean Counties to purchase food and
hire staff in the near term. Feeding America is the largest US-based
hunger-relief charity. It consists of a network of more than 200 food banks
and food rescue organizations.

The Brooklyn Community Foundation will receive $100,000 to capitalize local
nonprofit organizations to continue their grassroots operations and restore
their capacity to serve the Red Hook community in Brooklyn, which is one of
the most severely impacted areas of the borough. The Brooklyn Community
Foundation is a public charity that aims to strengthen communities in Brooklyn
through local giving, grant-making and community service.

Convoy of Hope will receive $100,000 to continue its recovery efforts in
Staten Island, Long Island, Newark, Bayonne, and Lower Manhattan. In response
to the aftermath of Hurricane Sandy, Convoy of Hope has brought more than 50
truckloads of materials and supplies to affected areas in New Jersey and New
York, established a network for distribution of materials and developed a
continuing pipeline of suppliers. The organization has committed to working in
both the near term and longer term in affected areas. They are also deploying
debris removal teams to affected areas as needed. Convoy of Hope is a
nonprofit that serves communities by providing food to children, disaster
response and community outreach initiatives.

“There are four reasons why JPMorgan Chase’s response to Superstorm Sandy is
an absolute ‘quadfecta’ for microbusinesses,” said Paul Quintero, CEO of
Accion East and Online. “First, the effort is a tri-state response, matching
the wake left by Superstorm Sandy; second, the response is focused on
microbusinesses, which make up over 85% of all firms; third, the grant
provides Accion the ability to reach Sandy-impacted businesses with increased
underwriting flexibility and favorable repayment terms; and finally, the
program includes grant support to adversely affected but viable
microbusinesses.”

In the aftermath of Superstorm Sandy, JPMorgan Chase was one of the first
companies to announce it would offer disaster relief, with up to $5 billion of
support for small businesses and $5 million in charitable relief. It also
dispatched food trucks into the hardest hit areas of New York City and
launched food drives to get food to the hungry, brought ATMs into severely
affected areas to help residents access funds, waived fees for customers,
reopened branches quickly and allowed anyone to charge their electronic
devices, and accepted donations to the American Red Cross through its Rewards
program and ATMs. The firm also organized programs for employees to volunteer
in hard-hit communities, as well as relief efforts to help its own employees.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm
with assets of $2.3 trillion and operations worldwide. The firm is a leader in
investment banking, financial services for consumers and small businesses,
commercial banking, financial transaction processing, asset management and
private equity. A component of the Dow Jones Industrial Average, JPMorgan
Chase & Co. serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government clients under
its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is
available at www.jpmorganchase.com.

Media:
Jennifer Kim
jennifer.h.kim@jpmchase.com
(212) 622-7068

Contact:

JPMorgan Chase & Co.
 
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