2021 Environmental Social & Governance Report

DOUBLING DOWN ON OUR COMMITMENT TO CDFIS AND MDIS
MDIs and CDFIs provide vital financial services in communities that are often 
underserved. Through small business loans, commercial financing, mortgages and 
more, these institutions supply capital to fuel economic growth and, in the process, 
play an essential role in helping individuals in these communities build wealth. In 
order to do so, however, many MDIs and CDFIs need additional capital themselves. 
Through our Racial Equity Commitment, our Firm is working to strengthen 
minority-owned and diverse-led MDIs and CDFIs by providing additional access to 
capital, connections to institutional investors, policy advocacy, support for diverse-
led commercial projects and mentorship and training opportunities.
When we announced our Racial Equity Commitment in 2020, we pledged to invest 
up to $50 million over five years in the form of capital and deposits in Black, 
Hispanic and Latino-owned MDIs and diverse-led CDFIs. By the end of 2021, we had 
invested more than $100 million of equity in 15 diverse-owned and -led MDIs and 
CDFIs that serve more than 89 communities across 19 states and the District of 
Columbia. This additional capital will help these institutions hire staff, invest in 
technology enhancement and expand into new markets.
According to the FDIC, every dollar of equity capital invested in MDIs can increase 
MDI lending by eight to ten times – meaning our Firm’s $100+ million investment 
could generate access to as much as $1 billion in community lending across the 
nation, helping to create wealth, grow local businesses and improve customers’ 
experiences in those communities. 
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JPMorgan Chase provides holistic support for CDFIs, mobilizing different parts of 
the Firm to supply financing ranging from philanthropic and flexible capital to 
debt. The Firm also provides resources and technical assistance, which includes 
direct pro bono consulting support through its Service Corps program. In 2021, the 
Firm provided over $500 million in financing to CDFIs to support over 100 loan 
funds specializing in community development. We look for ways to build on our