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November 04, 2014

JPMorgan Sends Staff Members to Team With Detroit Nonprofits

Financial giant JPMorgan Chase will send teams of employees from its offices around the world to Detroit to work with Motor City nonprofits as part of a five-year effort announced Monday, reports The Detroit News. The "Detroit Service Corps" effort comes five months after the nation's biggest bank launched a $100-million grant and loan program to aid the city's recovery from bankruptcy.

In the new program's first phase, a dozen JPMorgan staffers from New York, Sydney, Sao Paulo, Mumbai, and elsewhere will lend their business expertise to four Detroit charities—Eastern Market, Focus: HOPE, Michigan Community Resources, and Vanguard Community Development Corporation—in building projects aimed at boosting economic development and aiding low- and middle-income communities.