CFED Expands Programs to Improve Asset-Building Opportunities for Low- and Moderate-Income Households

$500,000 grant from The JPMorgan Chase Foundation to support and strengthen local asset-building opportunities

WASHINGTON, D.C. – October 24, 2013 – (RealEstateRama) — The Corporation for Enterprise Development (CFED), a nonprofit dedicated to expanding economic opportunity for low-income families and communities in the U.S., announced today that it will deploy $500,000 to strengthen the capacity of state and local nonprofits to ensure greater access to products, programs and policies that expand financial asset-building opportunities for low-to moderate-income consumers. The expansion is made possible by the JPMorgan Chase Foundation, and is part of the firm’s broader efforts to provide $1.4 million in grants to leading nonprofits that promote the financial capability of consumers.

“Our goal at CFED is to develop and support programs that empower low- and moderate-income households. This generous grant from JPMorgan Chase will help us continue to work to achieve this goal,” said, Jennifer Brooks, Director of the Assets & Opportunity Network, CFED.

“Strengthening the pipeline of high-capacity organizations is critical to providing asset-building services to underserved communities. We are proud to support CFED’s efforts to share innovative financial capability strategies, build partnerships and support asset-building nonprofits to enhance their impact,” said Janis Bowdler, Managing Director, Financial Capability and Affordable Housing, JPMorgan Chase Foundation.

The JPMorgan Chase Foundation grant will support the following 2014 CFED activities:

One-year pilot of the Capacity Building Initiative, a program designed to provide customized technical assistance to local and state asset-building leaders.
Development and deployment of resources that help Assets & Opportunity Network members connect to, and learn from, peers and experts.
Expansion of the Assets & Opportunity Network by recruiting and supporting nonprofits to deliver asset-building services and lead effective assets coalitions.
2013 Assets & Opportunity Network Leadership Convening, a national conference in Washington, D.C. The goal of the conference is to set the priorities for the CFED Network for the coming year, build relationships with peers and funders, and educate policymakers about financial access and inclusion issues.

About The Corporation for Enterprise Development

CFED empowers low- and moderate-income households to build and preserve assets by advancing policies and programs that help them achieve the American Dream, including buying a home, pursuing higher education, starting a business and saving for the future. As a leading source for data about household financial security and policy solutions, CFED understands what families need to succeed. We promote programs on the ground and invest in social enterprises that create pathways to financial security and opportunity for millions of people.

Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and internationally through its offices in Washington, DC; Durham, North Carolina; and San Francisco, California.

About JPMorgan Chase & Co.

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 world’s 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.