Local roots, lasting impact: JPMorganChase’s commitment to Detroit
Guest blog featuring: Terrah Opferman, Chair, Michigan Market Leadership Team and Region Manager for Michigan and Ohio,
J.P. Morgan Commercial Banking
At JPMorganChase, we know that our business thrives when communities thrive. This philosophy drives our commitment to showing up in good and tough times to support our clients, customers, and employees.
In Detroit, I’m proud to say that this commitment is much more than financial - it’s about partnership, empowerment, and lasting impact.
A Legacy of Partnership and Investment in Detroit
After the city of Detroit filed for bankruptcy in 2013, JPMorganChase joined forces with government and community organizations to help the city recover and rebuild. At the core of our approach was a commitment to listening to the community to help address the city’s most pressing challenges. Little did we know at the time, this work was just the beginning. Over the next decade, our business and philanthropic investments surpassed $2 billion, contributing to meaningful progress including:
Invested $73 million in local real estate purchases and redevelopment and local services, including the construction of the firm’s Corktown Community Center branch.
Deployed $568 million in lending and credit to local small businesses.
Provided more than $37 million in philanthropic investments to more than 30 nonprofits, helping Detroit small businesses access the capital, customers, connections and resources needed to grow and succeed.
Invested $158 million to support the creation of over 3,800 affordable housing units.
Launched the company’s first virtual call center in Detroit, training and hiring over 100 Detroiters to serve as Chase customer service specialists.
Provided more than $32.3 million in philanthropic investments to 39 nonprofits to help build a comprehensive and data-driven understanding of the city’s workforce challenges, align local job training programs with high-demand industries and place thousands of Detroiters in apprenticeships or full or part-time jobs.
Since making our initial commitment, our market share in Detroit has increased, Chase consumer and small business accounts and balances have risen, and mortgage originations have improved, demonstrating that Detroit’s comeback not only benefits the city’s residents and economy – it is good for business, too.
A New Chapter: Downtown Detroit Office
Marking a new chapter in our Detroit story, JPMorganChase is opening a state-of-the-art office in the heart of downtown, scheduled for completion in 2026. This new space in Hudson’s will serve as a hub for collaboration, innovation, and community engagement - bringing together employees, local partners, and community organizations to drive impact. The office will feature modern workspaces, a community conference center, and technology labs to support Detroit’s entrepreneurs and small and mid-size businesses, reflecting our commitment to fostering growth and opportunity for all.
Strengthening Communities Through Financial Empowerment
Through our work in Detroit and other markets around the world, we have learned that financial empowerment plays a vital role in strengthening communities. When we tailor our business offerings, products and programs for individuals who have not historically had access to banking resources, we have seen returns in the form of improved credit scores, increased savings, retirement plans, and other financial health indicators.
Importantly, our approach is not one-size-fits-all. We seek out local viewpoints to ensure we understand neighborhood-specific financial challenges and are working alongside community leaders to help break down those barriers to financial health. We know that every neighborhood is unique, and the best way to drive lasting impact is to invest at the local level.
One way we do this is through our network of nearly 300 community branches nationwide. In each community branch, our Chase Community Managers serve as trusted partners, deeply attuned to the needs of their neighbors. They guide residents through financial decisions, connect them with valuable resources, and help them build the confidence to pursue their dreams.
A shining example of this commitment is the Corktown Community Center in Detroit. Since opening its doors, Corktown has demonstrated improved performance and customer satisfaction, thanks to strong community engagement and a dedicated focus on financial health. Since 2021, we have hosted more than 150 free financial health events, with attendance rising by 50% and the number of events increasing by 35% year over year. Through these events, residents gain practical tools and knowledge to manage their finances, build credit, and plan for a brighter future.
Building Trust for the Long Term
Our work in Detroit is all about people - meeting residents where they are, understanding their challenges, and collaborating to create pathways to opportunity. By investing in Detroit’s neighborhoods, working with government and community organizations, and focusing on financial empowerment, we are helping to fuel Detroit’s resurgence. We hold ourselves accountable by measuring outcomes and sharing progress transparently, helping our investments to contribute to greater access to housing, jobs, financial coaching, and so much more.
As we look to the future, we remain committed to listening, learning, and fostering economic mobility and financial health for all. The power of localization is not just a strategy - it’s a commitment to Detroit and every community we serve. Our work in Detroit continues, and we are grateful to stand alongside the city on its journey of growth and revitalization.
To learn more about our impact in Detroit, please visit JPMorganChase.com/Communities/Detroit.