Strengthening Financial Health including three additional branches in 2022. Community Center Branches ofer addi- CASE STUDY REAFFIRMING OUR COMMITMENT TO HBCUS tional free resources, such as skills training, small business pop-ups, and fnancial and Wealth Creation health seminars for communities that have lacked access to traditional banking. JPMorgan Chase is committed to help close the racial wealth gap and drive eco- Improving economic opportunity starts by helping people achieve their fnancial Additionally, we have hired a total of 146 Community Managers. We are also increas- nomic inclusion by supporting the educational and career outcomes of young ing marketing and outreach to customers who are currently underserved. Black and other people of color from high school, through college, and into goals, cultivate fnancial resilience and ultimately build wealth. Access to relevant, useful and afordable fnancial services is a critical foundation for achieving this. Tools to help our customers achieve their fnancial goals: Our Firm provides promising career pathways. Colleges and universities are preparing their stu- However, diverse and LMI individuals are less likely to have access to fnancial ser- afordable and scalable products and services that help our customers strengthen dents for an ever-evolving labor market, including elevating the importance of vices, the fnancial resilience to manage unexpected shocks and the fnancial their fnancial health and meet long-term goals such as retirement savings, educa- connecting credentials and work experiences to in-demand jobs of the future. resources to meet long-term goals. We are leveraging our reach and expertise to tion, homeownership and growing a small business. We are also helping to fll gaps HBCUs play a vital role in creating pathways to opportunity in the U.S. and pre- expand access to banking, develop products that meet the needs of LMI consumers, and improve the user experience for LMI customers striving to improve their fnan- paring their students for those opportunities. Recognizing the importance of INTRODUCTION deepening our relationship with these institutions, JPMorgan Chase reafrmed deploy grants to support fnancial health, and provide fnancial coaching to support cial health. In 2022, the Firm’s Impact Finance and Advisory team invested in Propel, fnancial resiliency. a technology platform for low-income Americans that enables users to view their its support of HBCUs in 2022 through an expanded fve-year, $30 million com- ENVIRONMENTAL government benefts, access discounts for everyday items and utilize a debit card. mitment. This commitment takes a strategic approach to help meet the individ- Propel currently serves more than 5 million users a month by helping them check ual needs of HBCUs and students. This commitment complements the work of SOCIAL 2022 HIGHLIGHTS their Supplemental Nutrition Assistance Program (“SNAP”) balances in real time. the Firm’s Advancing Black Pathways Center of Excellence, an initiative to chart Access to Banking Services: As part of our Racial Equity Commitment (see page 25), clearer pathways toward economic success and empowerment within the Black Feature: Our Racial Equity Policy solutions: JPMorgan Chase is working to advance policy that expands access we pledged to help one million consumers open low-cost checking or savings community (see page 41 for more details). As part of the commitment in 2022, Commitment to banking, improves cash fow management, develops and strengthens access to accounts over fve years through expanded awareness of our Chase Secure Bank- the Firm is continuing its commitment of $1 million annually for fve years to the Inclusive Growth credit, and builds savings and wealth. We support policies that protect consumers ingSM SM Student Financial Hardship Fund to help students buy books, pay a security product. Chase Secure Banking accounts have no overdraft fees and provide Diversity, Equity and Inclusion while enabling the fexibility to design innovative credit and liquidity solutions. users with the benefts of being a Chase customer, like access to thousands of fee- deposit or medical bill, address short-term food insecurity or meet other needs. JPMorgan Chase participates in the Roundtable for Economic Access and Change Human Capital free ATMs, free money orders and cashier’s checks, Chase’s mobile app and support (Project REACh), which brings together leaders from the banking industry, national from bankers in person or by phone. In 2022, we helped customers open more than CASE STUDY INDIA FINANCIAL INCLUSION LAB civil rights organizations, business and technology to reduce specifc barriers to GOVERNANCE 170,000 net new low-cost checking accounts with no overdraft fees and enhanced fnancial inclusion. We are working across sectors to explore alternative credit Along with the Michael & Susan Dell Foundation, the Bill & Melinda Gates Foun- the Chase Secure BankingSM product by introducing Early Direct Deposit to expedite assessment methods that responsibly expand access to mainstream credit for dation, the MetLife Foundation and Omidyar Network, the Firm is providing APPENDICES customer access to cash by up to two days. Since its launch in 2019, we have made underserved borrowers. We also support policy that will enable structural changes philanthropic capital to the Financial Inclusion Lab in India, an initiative aimed Chase Secure BankingSM available to 1.5 million accounts to help people access main- to public assistance programs that promote economic stability for LMI consumers at improving the fnancial health of India’s underserved LMI population, by stream banking. Our Chase bank branches are also a key part of our strategy to and put people on a path to fnancial resilience and wealth-building. Across all these bringing early-stage inclusive fntech startups to scale. Despite making signif- expand access to banking services. As of December 2022, we had opened an addi- areas, we are sharing our Firm’s insights, data and experience about the unique cant progress in fnancial inclusion, India’s population continues to face barriers tional 29 new branches in LMI communities, many within Black, Hispanic and Latino communities. Since 2019, we have opened a total 15 of Community Center Branches, challenges and solutions that meet the needs of LMI communities. in accessing and using fnancial services. Since launching in 2018, the Financial Inclusion Lab’s eforts have included providing expertise to develop prototypes, mentoring, business development assistance and other support to startups. As of December 31, 2022, the Lab has reported supporting 50 early-stage startups. Cumulatively, according to the Financial Inclusion Lab’s self-reporting, these startups have served over 30 million individuals and raised over $80 million in funding following their participation in the Lab. 36