Chase, will.i.am Open Homeownership Center in Boyle Heights

The Financial

Oct 13, 2012

The FINANCIAL -- Chase and the i.am.angel Foundation announced today the opening of the Chase Homeownership Center in the East Los Angeles neighborhood of Boyle Heights. As JPMorgan Chase & Co. announced, the center will serve as a one-stop-shop for Boyle Heights residents as part of an innovative effort to help solve the community’s most pressing challenges.

“Boyle Heights is where it all began for me and I am committed to creating opportunities for the people who live here,” said will.i.am, Founder of the i.am.angel Foundation and native of Boyle Heights. “The Chase Homeownership Center is exactly the kind of thing this community needs to bring financial awareness and education to the families who need it most.”

“Our Homeownership Center here is part of our longstanding commitment to rebuild the highest-need neighborhoods and communities,” said Eric Schuppenhauer, Head of Mortgage Servicing at Chase. “Together with will.i.am and our many partners, we will help Boyle Heights’ residents work to achieve their homeownership goals.”

The center will offer face-to-face counseling for borrowers who are struggling to make their mortgage payments. In partnership with the non-profit East LA Community Corporation (ELACC), the Boyle Heights center will also offer home-buying and financial literacy education for both Chase and non-Chase customers.

The Chase Homeownership Center in Boyle Heights provides: One-on-one meetings with a mortgage specialist. On-site East LA Community Corporation counselors who specialize in financial education. Bilingual services for customers, including a team of five Spanish-speaking employees. Extended hours, including evenings and Saturdays.

Chase also announced two grants to local non-profits to help Boyle Heights residents – all part of Chase’s $7 million commitment over three years to TRANS4M Boyle Heights. The partnership with the i.am.angel Foundation and other non-profits addresses Boyle Heights' needs, including education, jobs and job training, health, home ownership and green space.

The grants are:

$200,000 to East LA Community Corporation to provide financial counseling, free income tax preparation, affordable housing development and resident-led community planning to Boyle Heights residents.

$250,000 to Valley Economic Development Center to establish a Chase-branded small business technical assistance and Capital Access Center in Boyle Heights. The center is set to open this fall, and is focused on local retail development linked to local city revitalization.

“Through the TRANS4M Boyle Heights initiative, Chase is displaying the kind of commitment to Boyle Heights that will undoubtedly change and transform lives for the better,” said Councilmember José Huizar. “Working with will.i.am and community partners ELACC and the VEDC, the Chase Homeownership Center – as well as additional grants donated by Chase – will offer homeowner, financial counseling and small business assistance that are critically needed in our Boyle Heights community.”

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