14th Sep 2012 15:30
JPMorgan Chase announced today a $1.25 million donation to Habitat for Humanity - New York City (Habitat-NYC) in support of their "100 Homes in Brooklyn" initiative. The initiative aims to build or acquire and rehab 100 affordable green homes in Bedford-Stuyvesant and Ocean Hill-Brownsville by 2014. Habitat-NYC's unique model provides low-income families the opportunity for affordable homeownership. Working alongside volunteers, the homebuyers contribute more than 200 hours of "sweat equity" volunteer work toward helping build their home and the homes of their neighbors.
"Access to affordable housing is one of the essential ingredients of community development," said Kim Jasmin, JPMorgan Chase Northeast Regional Executive. "We're proud to partner with Habitat-NYC to help these two Brooklyn neighborhoods become vibrant communities once again."
In addition to JPMorgan Chase's $1.25 million donation to the program, employees from the bank will be volunteering today to help renovate a home in the Bedford-Stuyvesant neighborhood of Brooklyn. And tomorrow, September 15th, Habitat-NYC will hold a home dedication event in Ocean Hill-Brownsville to commemorate the completion of the first unit of homes and to celebrate and recognize twelve families who will be moving into their new Habitat homes.
"JPMorgan Chase is our largest private supporter for our 100 Homes in Brooklyn program," said Rachel Hyman, Acting Executive Director at Habitat for Humanity - New York City. "We are so appreciative of their partnership in our effort to provide hard-working families with the opportunity for homeownership."
Habitat for Humanity's approach to providing sustainable living in low income communities aligns closely with JPMorgan Chase's community development strategy, and since 1992, JPMorgan Chase has donated more than $13 million to Habitat for Humanity affiliates across the country. In 2011, JPMorgan Chase donated more than $200 million to non profit organizations.
About Habitat for Humanity - New York City
Habitat for Humanity - New York City transforms lives and our city by building quality homes for families in need and by uniting all New Yorkers around the cause of affordable housing. With the help of thousands of volunteers every year, Habitat-NYC has built more than 260 affordable homes in the five boroughs of New York City.
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.
| JPMorgan Chase & Co. |
| Erich Timmerman, 212-622-4080 |
| www.jpmorganchase.com |
Copyright Business Wire 2012
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