Chase Card Services Announces New Funding for Financial Literacy Organizations

As part of its long-standing commitment to help consumers with financial planning and education, Chase Card Services, the credit card division of JPMorgan Chase & Co. (NYSE:JPM), is donating $1.3 million per year for three years to multiple organizations across the United States through its new Financial Literacy Grant Program.

“Chase believes that everyone should have the opportunity to increase their financial literacy,” said Carter Franke, chief marketing officer, Chase Card Services. “We know these grants will make a difference in helping adults and young people learn to use credit responsibly and be smart financial consumers all their lives.”

Joel Greenberg, president and CEO of Novadebt, said: "Novadebt is extremely grateful for the support JP Morgan Chase provides, to our organization and the communities we serve, in the areas of education and community outreach. Chase has been a staunch advocate for these efforts enabling us to meet our mission in assisting consumers, through financial education and community outreach programs. With the support of Chase we have been able to reach out to thousands of individual consumers that we otherwise would not have been able to assist."

The Financial Literacy Grant Program is in its second year. Chase provided $1.3 million in funding in 2006, which is followed by $1.3 million in funding this year and an additional $1.3 million in 2008. The new nationwide program is part of Chase’s multi-million dollar commitment to supporting financial literacy for people of all ages. These grants will be donated to more than 30 organizations, including credit counseling agencies, consumer financial research groups and a prominent industry trade association.