Branches in Florida, Georgia, New York, New Jersey, Connecticut, Texas and Illinois now operating on Chase systems
Chase announced today it has successfully upgraded products and technology in seven states to link 694 former Washington Mutual branches with about 3,550 Chase branches.
The conversion of 7.6 million accounts in Florida, Georgia, New York, New Jersey, Connecticut, Texas and Illinois represents $40 billion in deposits. Nearly 300,000 loan accounts with approximately $15 billion in balances were also converted to Chase systems.
To ensure high-quality customer service, more than 2,500 Chase tellers and bankers traveled from around the country to work side by side with 17,000 counterparts in the seven states, supplementing 100,000 hours of training on the new software and hardware.
"Chase customers now have access to nearly 4,200 branches nationwide,” said Charlie Scharf, head of Retail Financial Service at Chase, part of JPMorgan Chase & Co. "We are creating better service and convenience for our customers while becoming more efficient."
The seven-state conversion is the second of three retail conversions to bring all former WaMu branches onto Chase’s computer systems - and under the Chase brand. By the end of the year, customers will have full access to 25 million checking accounts at any of more than 5,100 Chase branches and 14,000 Chase ATMs across the country.
JPMorgan Chase acquired the banking operations of Washington Mutual from the Federal Deposit Insurance Corporation in September, 2008.
The conversion, completed over the past weekend, follows two other major Chase conversions:
- May’s consumer banking conversion of 2.9 million accounts in Washington, Oregon, Idaho and Utah
- March’s conversion of 20 million credit card accounts onto Chase computer systems
Both increased Chase’s effectiveness for customers while reducing costs.
About Chase
Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co. (NYSE: JPM), which operates more than 5,100 branches and 14,000 ATMs nationally under the Chase and WaMu brands. Chase has about 152 million credit cards issued and serves consumers and small businesses through bank branches, ATMs and mortgage offices as well as through relationships with auto dealerships and schools and universities. It also serves 26,000 commercial banking clients, including corporations, municipalities, financial institutions and not-for-profit entities. More information about Chase is available at www.chase.com.
Contacts:
Chase
Media contact:
Thomas Kelly, 312-732-7007
Thomas.A.Kelly@Chase.com
