JPMorgan Chase Opens 1,000th Branch, Sets Sights on Major U.S. Growth

At a packed event in Charlotte, North Carolina, JPMorgan Chase marked its 1,000th branch launch since 2018. The bank aims to secure 500 more spots by 2027.

"Every day, nearly one million customers visit our branches to manage their finances or get advice on how to save, spend, and grow their money," said Jennifer Roberts, CEO of Chase Consumer Banking, according to The Globe and Mail.

With 5,000 spots across the U.S., Chase tops all other banks in size. Their wide reach now puts bank services within grasp of 68% of Americans.

The fresh SouthPark spot spans 5,300 square feet. Inside work 11 staff members, with meeting spots, quiet areas, three cash machines, and counter help.

"This market is extremely attractive," said Billy Botsakos, JPMorgan Chase head of consumer branch banking for the Carolinas, per The Charlotte Observer. "More than half of our checking accounts are opened up in the branch, even though customers can do it online."

The bank aims to grow in big cities and small towns alike. They're focusing on spots where banking options are scarce. Right now, Chase runs 19 special centers and 300 spots in areas that need more banking choices.

Chase has grown fast: from 23 states to 48 since 2018. Bank officials think new spots will bring $160 billion more in savings. Most new spots start making money in four years.

This push makes jobs, too. Chase pays new U.S. workers $20-25 per hour. About 50,000 people work in branches now, doing all sorts of bank work.

In North Carolina, plans call for growth from 46 spots to 75 by 2027. Since 2018, Chase has spent $7.5 million on state programs that teach job skills, back small shops, and show people smart money moves.

The bank helps 85 million people and 7 million small shops across America. Each year, folks make 900 million moves at Chase spots during 300 million visits.