Chase Bank Opens New Location in Downtown Providence -- 12 RI Branches Planned in Next 5 Years

Chase Bank Opens New Location in Downtown Providence -- 12 RI Branches Planned in Next 5 Years

Chase Bank has opened a new branch in downtown Providence. 

The location at 146 Westminster Street, which had its grand opening this week, marks Chase Bank’s second recent entry into the market.

VIDEO: Market Director Patty Gilman Speaks About Chase Bank in RI ABOVE

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

Chase also now has a branch at 234 Thayer Street on the East Side, which opened in August 2019. 

While Chase is new to the state, JPMorgan Chase is not. It has had a presence in the market since 2017, with the Commercial Bank, Private Bank and Real Estate.

According to the company, with the expansion of retail, its commercial and private banking practices are also growing.

Chase plans to open 12 branches and 20 ATMs in Rhode Island in the next five years.

Chase Vision

According to Chase, new branches will include modern design elements and feature open, collaborative spaces with ample room for meetings and “Chase Chats,” a new series of small group sessions focused on financial health.  

Given the first branches close proximity to Brown University and Rhode Island School of Design (RISD), Chase employees will go on to local campuses to hold financial health classes.

Over the next five years, the bank will invest $3 billion for home and small-business lending in the New England region. Home loans will include low- and moderate-income communities. Eligible customers may also receive up to $3,000 in homeownership grants. 

Small businesses entrepreneurs will have access to dedicated bankers and products, including small-business loans, merchant services, cash management and credit card services. In addition, through our Small Business Forward initiative, the firm will provide women, minority- and veteran-owned small businesses increases to capital and technical assistance.

Entry Level employees will be paid no less than $16.50/hour and will receive the firm’s full benefits package, which is valued at an average of $12,000 annually per employee in this pay range. It includes health care coverage and retirement savings, as well.

To help ease the burden of out-of-pocket medical expenses, the firm reduced medical plan deductibles by $750 per year for employees making less than $60,000.