JPMorgan Chase Pledges $20 Million to Support U.S. Military Veterans and
Firm expands its commitment to the military and veteran communities, partners
with philanthropic leaders across the country in new Philanthropy-Joining
Forces Impact Pledge
NEW YORK -- April 30, 2014
JPMorgan Chase & Co. (NYSE:JPM) today pledged to invest $20 million over the
next five years to supportU.S. military veterans and their families. This
pledge builds upon the firm’s existing programs and initiatives for military
veterans focused on employment, education and housing.
JPMorgan Chase’s expanded pledge endorses the new collaborative effort of the
White House’s Joining Forces Initiative and philanthropic leaders across the
nation known as the Philanthropy-Joining Forces Impact Pledge. The
Philanthropy-Joining Forces Impact Pledge – initiated by the Blue Shield of
California Foundation, the Bristol Meyers Squibb Foundation, the Lincoln
Community Foundation and the McCormick Foundation – creates a community of
funders and builds momentum for programs that will support service members,
veterans and their families, in local communities.
“We are honored to join with other leaders to support our nation’s veterans
and military families as they transition to civilian life,” said Peter Scher,
head ofCorporate Responsibility for JPMorgan Chase. “We believe this
collaboration will make a dramatic difference for the servicemembers and their
families who have given so much for our nation.”
JPMorgan Chase will earmark the $20 million for programs and initiatives
focused on employment, education and housing, which are designed to help
veterans and their families succeed after their military service ends. The
pledge includes a commitment to community partners that provide direct
services to the military and veteran populations through both national and
regional programming – as well as a continued commitment to fund higher
education programs for veterans and Syracuse University’s Institute for
Veterans and Military Families, which the firm co-founded in 2011.
“We’ve seen dramatic progress over the last three years since we launched our
military and veterans program and believe our renewed promise will encourage
more employers and institutions to join us in supporting our nation’s best,”
said Jim Cummings, global head of Infrastructure Protection, Business
Continuity and Military Affairs for JPMorgan Chase.
In addition to the firm’s philanthropic work,JPMorgan Chase in 2011 worked
with 10 other companies to launch the 100,000 Jobs Mission, promising to hire
100,000 veterans by 2020. Since then, the coalition has grown to more than 150
companies, which have collectively hired more than 117,000 veterans. That
prompted the companies to double their commitment – to hire a total of 200,000
veterans – and to expand their efforts to include military spouses.
JPMorgan Chase has hired more than 6,700 veterans since 2011. It has also
provided nearly 700 mortgage-free homes, amounting to more than $104 million,
to military families – often those with serious injuries – through its
JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm
with assets of $2.5trillion 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.
JPMorgan Chase & Co.
Shannon O’Reilly, 212-270-0563
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