Focus on the Delaware Valley, with Lora Lewis

Focus on the Delaware Valley, with Lora Lewis

Chase Bank’s Bryan McCullough on Community Banking Download

00:29 Download December 10th, 2020

Bryan McCullough, JP Morgan Chase Market Director of Banking for Philadelphia, discussed banking today, and while we enjoy online services, the traditional brick and mortar building is still a vital part of the community.  We discussed how we use banks, to save and to plan, and how that is the start of financial wealth for an individual and later, the family.  He explained the pillars of ‘financial freedom,’ the ability to save, spend and use credit.  A bank account, he points out, is the way to save money – you do not have to spend your money to get access to your money as with lenders and check-cashing businesses, and automatic payment protects and creates your credit rating.   He reminds us that the time to ask for advice and help is at the beginning and he emphasized the need to save, whatever amount, noting that 70% of Americans do not have the suggested $400 in reserve for emergencies.

In reference to that, he spoke about the economic inequalities that years of systemic discrimination in lending, housing and wages have created, if you are African American and single your net worth is on average, $200 to $300 dollars, versus $15,000 – $28,000 for a single white.

To address this racial divide and the other underbanked communities he notes that Chase Bank has pledged 30 billion in a ‘Path Forward’ program, with small business loans, refinancing, and other initiatives to reach the Black and Latinex communities.  They are also opening new ‘Community Center’ banks in underserved neighborhoods, offering financial advice and planning through their branches, hosting ‘Chase Chats’  to answer community questions about banking and loans, give children easy ‘first accounts’ with debit cards, and offer online resources including a ‘Budget Builder’ at

Podcasts you may like

Deanna & Justin In The Morning

Deanna & Justin In The Morning- Never Perfect, Always Fun. Deanna and Justin In The Morning is the show that starts your day. You wake up to the annoying alarm, […]

5 episodes

Do What You Love

I’m Jeff Kurkjian. I’ve hosted morning radio since I was in college at Syracuse University, a stop in beautiful Cleveland, Ohio to now, Las Vegas, Nevada. In radio, we are […]

Play Latest (May 9th)

43 episodes

Second Date Update On The :10s Podcasts

Second Date Update on the :10s: 6:10am, 7:10am and 8:10am with the GetUp Crew on HOT 96.9 You had a first date, it was great, you think a second one […]

Play Latest (July 23rd)

1084 episodes

War Of The Roses

Presented to you by Plato’s Closet! Enjoy listening to three friends bust some cheaters in the morning…we’ve got you covered. With the MRL Show’s War Of The Roses, we get […]

Play Latest (June 27th)

346 episodes

PG: Parental Guidance (Needed)

Roxanne and special guests share parenting mishaps and milestones. With crazy schedules for parents and kids and the added distraction of tech everywhere you turn, they are less dishing out […]

Play Latest (October 6th, 2023)

180 episodes