NEW YORK, July 1, 2011 – Chase today launched Military Banking, its latest initiative to support military personnel with special benefits. The premium checking account benefits typically reserved for high-balance customers are now available to active duty Armed Forces servicemembers along with members of the Guard and Reserve.
Current Chase military customers will be automatically upgraded to Chase Premier Plus with Military Banking Benefits on July 1. Military personnel qualify when they have their military base pay direct-deposited into their Chase account.
“Our servicemen and servicewomen deserve the very best Chase has to offer,” said Todd Maclin, CEO of Retail Banking at Chase. “We are lowering the cost for military personnel to do their everyday banking wherever they are around the world.”
The benefits of Chase Military Banking include:
New Chase Military Banking customers will receive the benefits if they set up direct deposit of their military base pay. The deposit of allotments does not meet this requirement.
In addition, active duty servicemembers who own a small business can take advantage of special Business Banking offers that also begin July 1. The special military benefits include:
Chase also launched a Military Mortgage program to provide military servicemembers significant financial advantages and customized offers on home loans, including:
Details about all Chase Military programs are available at any one of 5,300 Chase branches or by emailing firstname.lastname@example.org.
Chase Initiatives to Support Military Veterans
Earlier this year, the bank developed a comprehensive strategy to support the unique needs of military members, veterans and their families in the areas of homes, jobs and education. Since then, it has launched a series of initiatives in close partnership with government organizations, non-profits, educational institutions and other firms. Specifically, Chase is providing 1,000 homes to veterans in the next five years through its non profit partners and through the 100,000 Jobs Mission partnership pledges with other firms to collectively hire 100,000 veterans by 2020.
Chase also partnered with Syracuse University to establish the Institute for Veterans and Military Families to provide education programs for veterans and in-depth analysis of the challenges facing the veteran community. The institute will capture best practices and serve as a forum to facilitate new partnerships and strong relationships between the individuals and organizations committed to making a difference for veterans and military families.
In addition, the bank established a multi-year partnership with the Center for a New American Security to address issues impacting U.S. service members, veterans and their families in support of the White House’s “Joining Forces” initiative.
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. More information about Chase is available at www.chase.com.