Plans are underway for the construction of two new banks in metro Albuquerque that will operate as part of the vast JP Morgan Chase Bank network.
The two banks will go up on the east side of the city, with one slated for 340 Eubank Boulevard NE, and the other set for the southwest side of Louisiana Boulevard and Indian School Road.
The New York-based Chase two years ago announced a $20 billion plan to build some 400 new branches across the country by 2023.
In announcing that plan, Thasunda Duckett, chief executive officer of Chase Consumer Banking, identified the goal of the expansion as allowing the bank to “serve more customers, small businesses, and communities across the country.”
It was also noted at the time of the announcement that the new banks would be a combination of full-service branches as well as smaller, digital-first locations. Nearly a third of the new banks are slated for construction in low and moderate-income communities.
As part of that expansion, this summer Chase opened a new branch in downtown Phoenix as well as Broomfield, Colorado.
The largest commercial bank in the country with assets of more than $2.6 trillion and in excess of 5,100 branches, Chase merged in 1955 with the Bank of the Manhattan Company.
That bank was founded in 1799 by future Vice President Aaron Burr, who would be fated to be remembered for his murderous duel with former Treasury Secretary Alexander Hamilton 5 years later.
By Garry Boulard
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