JPMorgan Chase Expands Economic Opportunity Initiative for Young Men of Color in Chicago, Dallas, Los Angeles and New York
The Fellowship Initiative offers comprehensive support to high school
students to help them achieve education and career success
NEW YORK–(BUSINESS WIRE)–JPMorgan Chase & Co. today announced that The
Fellowship Initiative (TFI) will expand to Dallas, Texas in 2017 and
will recruit new classes of Fellows in Chicago, Los Angeles and New
York. TFI helps create economic opportunity for young men of color by
engaging them in a comprehensive, hands-on enrichment program that
includes academic support, college access and persistence services,
leadership development and mentoring at a critical juncture in their
lives. This initiative is part of the firm’s broader, ongoing efforts to
provide adults and young people with the education, skills and resources
that contribute to greater economic mobility.
“It’s a national emergency that high school graduation rates for young
men of color are dangerously low and so many who do graduate lack the
skills they need to be successful in college or their careers,” said Jamie
Dimon, Chairman and CEO of JPMorgan Chase & Co. “The path to a
successful future begins at a young age, and The Fellowship Initiative
has proven that the right combination of intensive academic, mentoring
and leadership training, can help them get ahead – and that success can
help drive entire communities forward, too.”
This year, 117 students completed The Fellowship Initiative in Chicago,
Los Angeles and New York City and, 100 percent of those students are
graduating from high school. Combined, they have been accepted into over
200 colleges and universities across the country.
JPMorgan Chase launched the TFI pilot in New York in 2010 to explore
whether a combination of intensive academic and leadership training
could improve high school graduation and college access rates for young
men of color. The pilot demonstrated that an intensive, three year
program with a holistic approach could contribute to promising outcomes
for young men of color.
The Fellows who completed the programs reported elevated academic goals,
career aspirations and life-changing personal growth. They also
graduated from high school on-time, gained admission to a college
program and, collectively, received scholarships and grants totaling
$8.4 million. More than half were the first in their family to attend
college.
The Fellowship Initiative in Chicago, Dallas, Los Angeles, New York City
will include:
-
Academic training and project-based learning throughout the school
year and summer; - Leadership and entrepreneurship training;
- One-on-one mentorship with JPMorgan Chase employees;
- College tours and college preparation workshops;
- SAT/ACT prep coursework; and
- Team-building events.
The Fellows receive support services and coaching through college, as
well as opportunities for summer internships at JPMorgan Chase. To date,
more than 200 JPMorgan Chase employees have worked with TFI Fellows as
Mentors, coaches, role models, speakers, or volunteers in various
capacities.
Recruitment for the Class of 2020 of approximately 200 students began in
May. Students who are enrolled in the program will begin program
activities this summer.
Through several targeted philanthropic initiatives, the firm is
investing over $350 million in skills development around the world. New
Skills for Youth is a $75 million, five-year effort to address the youth
unemployment crisis by increasing dramatically the number of young
people who complete career pathways that begin in high school and end
with postsecondary degrees or credentials aligned with good-paying,
high-demand jobs. New Skills at Work is a five-year, $250 million global
initiative to help inform and accelerate efforts to address the mismatch
between the needs of employers and the skills of job seekers. An
additional $5.8 million effort to support summer youth employment
programs around the country.
Notable Statements of Support for The Fellowship Initiative From
Mayors
“I am pleased that JPMorgan Chase has chosen to expand its Fellowship
Initiative to make a real difference in the lives of Dallas’ youth,”
said Dallas Mayor Mike Rawlings. “There’s no doubt that we can do
more when we work together and this powerful mentorship and fellowship
program is a sensible solution to one of the most urgent social issues
in our cities today.”
“One of the greatest gifts we can give to our young people is
opportunity — to learn, to lead, and to pursue their dreams,” said Los
Angeles Mayor Eric Garcetti. “Those opportunities can be especially
transformative in the lives of young men of color, and it’s programs
like JPMorgan Chase’s Fellowship Initiative which provide the academic
support, leadership training, and mentorship that can put students on a
pathway to career success.”
“Providing much-needed educational and career opportunities for young
men of color will require an all-hands-on-deck effort. The Fellowship
Initiative plays a critical role to that end,” said Congressman
Hakeem Jeffries (NY-08). “I am thrilled to learn of the program’s
expansion and look forward to witnessing its continued success. Jamie
Dimon and all involved at JP Morgan Chase should be applauded for their
commitment in this regard.”
For more information and to view a short film about The Fellowship
Initiative, visit www.jpmorganchase.com/TFI.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services
firm with assets of $2.5 trillion and operations worldwide. The firm is
a leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction processing,
asset management and private equity. A component of the Dow Jones
Industrial Average, JPMorgan Chase & Co. serves millions of consumers in
the United States and many of the worlds most prominent corporate,
institutional and government clients under its J.P. Morgan and Chase
brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
###
Contacts
Media Contact:
JPMorgan Chase & Co.
Stephanie
Bosh, 202-585-1382
