Based in New Orleans, Liberty Bank has provided banking services for nearly 50 years to underserved communities. Today, Liberty has branch locations in nine states.
The announcement is part of a broader initiative by JPMorgan Chase to strengthen the foundations of vital Minority Deposit Institutions and Community Development Finance Institutions in cities across the nation. These new initiatives are focused on supporting diverse-led financial institutions by providing additional capital, connections to institutional investors, specialty support for Black-led commercial projects, and mentorship and training opportunities.
“The COVID-19 pandemic has only exacerbated the racial inequalities in the U.S., which puts a strain on families’ economic mobility and impedes the continued growth of our economy,” said Brian Lamb, Global Head of Diversity & Inclusion at JPMorgan Chase. “We know these crucial institutions create lasting change for Black and Latinx families and we hope our support will help uplift the people and businesses that are the backbone of our local economies.”