JPMorgan Chase Donating $200,000 to Louisiana Flood Relief Efforts
JPMorgan Chase announced plans to donate $200,000 from its foundation to assist with flood relief efforts in Louisiana. Specifically, they are donating $100,000 to the Red Cross and $50,000 each to two Louisiana United Way chapters: the Capital Area United Way and the United Way of Acadiana.
The funds will be used to provide residents with food, shelter, medical care, clothing and longer-term support for rebuilding efforts.
For affected customers, Chase is also automatically waiving late fees on mortgages, credit cards, business banking and auto loans as well as overdraft, ATM and monthly service fees through August. Even non-customers in affected areas can use Chase ATMs without accruing fees through the end of this month.
“The flooding has had a heartbreaking impact on thousands of our customers, neighbors and employees in Louisiana,” said Janet Olson, Baton Rouge Market President at JPMorgan Chase. “Our support will help victims of the flooding gain access to critical resources they need to recover and come back stronger.”
According to the Red Cross, this is the worst natural disaster to strike the United State since Hurricane Sandy. Brad Kieserman, the Red Cross’ vice president of disaster services operations and logistics, told CNN the anticipated cost could hit $30 million and that “thousands of people in Louisiana have lost everything they own and need our help now.”
Chase, which has more than 2,700 employees in Louisiana and over a million customers in the state, has reopened 53 of its 56 branches in the affected areas.