Five years after opening on the South Side, the Chase Stony Island Community Center has evolved into a national model for how financial institutions can support entrepreneurs and small businesses in historically underserved communities.
That evolution was the focus of a community roundtable held Wednesday, April 1, where JPMorganChase executives and local partners gathered to reflect on the center’s impact and discuss how to expand its reach. While homeownership and personal banking gains were acknowledged, much of the conversation centered on the center’s growing role in helping entrepreneurs access capital, build credit, and sustain their businesses.
Participants included Diedra Porché, national head of Community and Business Development; Jared Evans, Chase Community Manager; Mikal Quarles, business banking division director; Felton Ellington, head of Chicago home lending; Maria Holmes, regional director; Gia Lake, market director; and Damion Heron, Midwest executive for community engagement. Community partners at the table included Jimmie and Tiffany Williams, co-founders of Urban Roots; Z. Scott, president of Chicago State University; Caroline Goldstein, deputy director of the Local Initiatives Support Corporation (LISC); Mary Tritsis, chief lending officer of Allies for Community Business; Jamila Trimuel, founder and CEO of Ladies of Virtue; and Alderman Desmon Yancy of the 5th Ward.
Throughout the discussion, one theme surfaced repeatedly: the success of the Stony Island branch is rooted in consistent, visible engagement. Several speakers pointed to Jared Evans as a central figure in that work, describing him as a connector who has helped translate the bank’s resources into meaningful community partnerships. His role, participants said, has extended beyond traditional banking responsibilities to include convening organizations, supporting programming, and ensuring that the branch remains responsive to neighborhood needs.
“That’s what I’ve talked about since day one,” one participant said, recalling Evans’ presence at community events, including food distributions and neighborhood initiatives.
That hands-on approach has helped define what has become known as the community center branch model—an approach that prioritizes relationships, accessibility, and collaboration over transactional banking.
Data shared during the roundtable illustrates how that model has translated into measurable growth for small businesses. Since 2021, the Stony Island location has seen a 190 percent increase in business credit card customers, 668 new business credit card accounts, a 93 percent increase in business card balances, and a 75 percent increase in business banking loan volume.
Those gains reflect a broader shift in how lending is approached. Community lending partners described efforts to remove traditional barriers, including reconsidering credit requirements and eliminating the need for personal collateral in many cases.
“We don’t want your house, we don’t want your car,” one partner said, explaining how newer models focus on recent financial behavior rather than long-standing credit history.
Even with those changes, participants emphasized that the need remains significant. Leaders from Allies for Community Business and LISC called for deeper collaboration to reach more entrepreneurs, particularly those operating informal or early-stage ventures.
Mary Tritsis challenged the group to expand its pipeline, asking how partners could work together to identify and support more small business owners across neighborhoods.
“How can we find more entrepreneurs… and create more of the Jimmies and Tiffanys of the world?” she said, referring to business owners who have benefited from these partnerships.
Organizations at the table described the Stony Island center as more than a physical space. Over the past five years, it has hosted 251 financial health workshops, reaching more than 6,300 residents and entrepreneurs, while also serving as a gathering place for nonprofit programming, small business events, and community discussions.
For partners like Ladies of Virtue and Urban Roots, the relationship with Chase has included not only funding but direct involvement in programming, mentorship, and financial education. Jamila Trimuel noted that Chase has supported initiatives ranging from youth financial literacy to community outreach events, reinforcing the importance of sustained partnership.
The impact of those efforts extends beyond individual businesses to broader economic development. Z. Scott highlighted the role that financial institutions can play in supporting institutions like Chicago State University, where many students are navigating financial systems for the first time and exploring entrepreneurship as a pathway to economic mobility. She also pointed to opportunities for deeper engagement, including expanding financial services and education on campus.
Alderman Desmon Yancy, who has a background in community banking, said the center represents the type of investment needed to help neighborhoods stabilize and grow.
“I know the value of how our community can grow and thrive,” Yancy said, adding that partnerships like those built at Stony Island help plant the seeds for long-term prosperity.
Chase leaders noted that the success of the Stony Island Community Center has influenced the company’s broader strategy, with similar community-focused branches being developed in other cities. The model combines banking services with education, meeting space, and direct engagement—an approach that executives said is proving both impactful and scalable.
While JPMorganChase’s broader philanthropic efforts, including support from the JPMorgan Chase Foundation, continue to play a role in strengthening nonprofit partners, the roundtable made clear that the defining feature of the Stony Island center is its on-the-ground presence and day-to-day engagement.
As the discussion concluded, participants returned to the idea that sustained progress will depend on continuing to show up, listen, and adapt. The first five years, they said, have demonstrated what is possible when financial institutions embed themselves in the communities they serve.
The next five years will test how far that model can go in expanding opportunity for entrepreneurs across Chicago’s South Side.