How Chase is helping Louisiana's flood relief
Foundation donates $200,000, and bank waives select fees
JPMorgan Chase will donate $200,000 from its foundation to support Louisiana's flood relief efforts:
- $100,000 to the American Red Cross-Louisiana Region
- $50,000 to the (Baton Rouge) Capital Area United Way
- $50,000 to the United Way of Acadiana
The organizations will use the funding to provide residents with immediate assistance such as food, shelter, medical care, and clothing, in addition to longer-term support to help rebuild communities.
Chase to waive some fees for affected customers, neighbors
In addition, Chase will automatically waive two fees for customers in the affected communities through August:
- Late fees for mortgage, credit card, business banking and auto loans
- Overdraft, monthly service and ATM fees on deposit accounts
Chase also will allow non-customers in the affected areas to use the bank's ATMs without a fee through August.
Area residents continue to struggle following the flood, which has damaged more than 40,000 homes.
The American Red Cross has described the situation in Louisiana as the worst U.S. disaster since Hurricane Sandy, which ravaged the East Coast in 2012.
"The flooding has had a heartbreaking impact on thousands of our customers, neighbors and employees in Louisiana," said Janet Olson, Baton Rouge market president of JPMorgan Chase. "Our support will help victims of the flooding gain access to critical resources they need to recor and come back stronger."
The bank has more than 2,700 employees in Louisiana and serve more than 1 million consumer customers in the state. Since Hurricane Katrina, JPMorgan Chase has donated nearly $40 million to non-profit organizations working in Louisiana.
Photo: Joe Raedle/Getty Images | Dawn Allcot is writer whose work has appeared on Forbes.com, Mint.com, AOL Careers, among other media outlets.