The first retail banking branch of Chase will open in Springfield in summer 2024, and the company is aggressively exploring additional Queen City locations, said Jim Erickson, market director for Springfield.
Chase, the consumer banking business of JPMorgan Chase & Co., announced a multi-billion dollar expansion plan to open more than 500 new branches by 2027. The Springfield branch, located at 3341. S. Glenstone Ave., is part of the expansion plan, Erickson said.
“It's a multibillion-dollar commitment really to contribute to local economic growth, and this is one of them right here in Springfield,” Erickson said. The new branch “is in a great spot right behind the Target there in that plaza with a lot of visibility and a lot of traffic.”
The 3,000-square-foot branch will be located in front of Glenstone Marketplace and employ about eight people, Erickson said.
“It will be a full service branch, so we'll be able to support our retail customers, business customers, mortgage customers and investment customers all in one great location,” Erickson said.
Chase wants to add additional SGF branches
Chase is “aggressively” pursuing additional locations in Springfield, Erickson said. Erickson declined to disclose the total financial investment for the new branch.
“We are aggressively looking to continue to build the brand with other locations in the [Springfield] market,” Erickson said. “We're not a one-hit wonder. We're not going to just come in with one.”
On top of opening 500 new locations, Chase plans to renovate 1,700 stores and hire 3,500 employees over the next three years, according to a company press release. Chase has more than 4,700 branches in 48 states and the District of Columbia.
“People need people” for help with financial decisions
Chase has had a customer service center, located in the JPMorgan Chase building at 303 E. Republic Rd., in Springfield for over 20 years, Erickson said. CoxHealth purchased the building in early-February and will take possession of 60,000 square feet of the campus' south building in April. JPMorgan Chase will continue to be a tenant in other areas of the campus.
“When we're looking at our philosophy at Chase, it's really simple: When it comes to making important financial decisions, we believe people need people, which is why we continue to build new branches and grow in our new markets,” Erickson said.
