Chase Bank has now opened 52 branches in the Philadelphia region since entering the retail banking market in 2018, but the latest one is unique.
Opened earlier this month and situated at 15 S. 52nd St. in West Philadelphia, it is more than three times the size of a normal Chase branch and occupies the former home of an original Philadelphia Savings Fund Society (PSFS) Bank location.
The new community-inspired model offers free financial health resources like skills training, local pop-up shops, and fintech innovation for local residents and small businesses. It is one of just 15 such locations across Chase’s 4,700-branch footprint in the U.S. It will be half community center and half traditional bank branch. Among the services it will provide are:
- Growth support for local entrepreneurs starting or expanding their small business.
- Mentoring for entrepreneurs and access to a pop-up space to display and sell their merchandise.
- A new community “living room” area and events space.
- Workshops to build financial health — including sessions on saving, budgeting and building credit.
- A free use tech bar space and Wi-Fi for community groups and residents to utilize for remote learning and work.
*Article courtesy of Philadelphia Business Journal
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