At its 86th annual convention, the National Bankers Association (NBA), a trade group of minority banks, has given its community service award to JPMorgan Chase & Co. for the company’s leadership in investing for social impact in low and moderate income communities in the United States and around the world.
“JPMorgan Chase has used its resources and global reach to help provide financial assistance and economic stimulus in communities across America,” said NBA President Michael Grant. Grant particularly lauded JPMorgan Chase’s partnerships with community development financial institutions or CDFIs. Since 2009, the company provided more than $1 billion in loans, grants and investments to CDFIs and their affiliates.
The award was given during the NBA’s annual conference in Atlanta last week. The award was accepted by David Balos, president of the Georgia Market, JPMorgan Chase. The theme of the four-day gathering was ‘A Legacy of Community Service and Social Responsibility.’
Last year alone, JPMorgan Chase provided some $6 billion to low- and moderate-income individuals and communities through its community development work. Also, recognizing the need to educate a workforce for the future, the company, in 2012, donated more than $60 million to education organizations in the U.S. and around the world.
To help capitalize the leading engines for creating jobs (small businesses) JPMorgan Chase provided $20 billion in new credit to U.S. Small businesses, up 18% over 2011 and ranked number one Small Business Administration lender by units for the third year in a row.
The National Bankers Association founded in 1927, is a trade group of minority-owned banks. Membership is comprised of African American, Hispanic American, Native American, Asian American and women-owned banks. The Association is headquartered in Washington, D.C.