JPMorgan Chase (JPM) has donated or sold at a discount more than $250 million in corporate-owned homes to community associations, municipalities, veteran groups and nonprofit housing providers across the country.
The initiative, which is titled the Chase Community Revitalization Program, began in 2009 as part of a corporate-wide effort to help customers and communities cope with the effects of the housing crisis.
Since the program started, the company has donated or sold more than 5,300 properties in 43 different states.
“Chase has a long history and commitment to helping build vibrant communities through a variety of corporate-wide programs,” said Ryan Crowley, head of Chase Government and Community Partnerships. “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.”