Chase announced on Thursday that it has donated or sold more than $250 million in corporate-owned homes to community organizations, veteran groups and nonprofit housing providers across the country.
The Chase Community Revitalization Program, which was launched in 2009 as part of a company-wide effort to help customers and communities cope with the housing crisis, has contributed to more than 5,300 property sales or donations in 43 states.
“Chase has a long history and commitment to helping build vibrant communities through a variety of corporate-wide programs,” Ryan Crowley, the head of Chase government and community partnerships, said. “By responsibly donating about three homes a day through this initiative, Chase’s efforts have rehabilitated communities, spurred job growth and provided homes for thousands of low-to-moderate income families.”
In 2011, Chase pledged to award 1,000 mortgage-free homes to military families by the end of 2016, of which the company has provided more than 600, totaling $62 million.
“We are very proud of our relationship with JPMorgan Chase,” Lot Diaz, the vice president of housing and community development at the National Council of La Raza, said. “Such partnerships, between the for-profit and non-profit sectors, shows that we all need to work together to further the national effort to stabilize housing in our communities.”
Over 450 organizations participate in the Chase Community Revitalization Program and donate, re-sell, retain or use the properties as part of the services offered under their mission. Chase conducts post-renovation inspections, tracks title filing and insures homes are sold within the parameters of the program.