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Briefs
JPMorgan Chase Invests in Second Chance Hiring
JPMorgan Chase recently brought to Phoenix its Second Chance program, previously launched in Chicago and Columbus. Operating in collaboration with Phoenix-based nonprofits to provide career coaching and more, the community-based hiring model Phoenix will help remove barriers for qualified people with criminal backgrounds to secure employment at JPMorgan Chase — if their histories fit within industry regulatory guidelines and their criminal backgrounds have no bearing on the job requirements — further building an inclusive hiring pipeline.
Says Mike Cunningham, managing director and an operations executive for JPMorgan Chase in Phoenix, “In our market, we hire customerfacing operational jobs such as credit card collection and credit card lending. Once they get their foot in the door [as employees], then the sky’s the limit to expand and make it a career.”
For its application process, JPMorgan Chase is proactively “banning the box” on job applications and removing all questions about criminal backgrounds from job applications. “This allows them to have a fair review for the job,” explains Monique Baptiste, who leads Chase’s firmwide Second Chance efforts. “Once they get a conditional offer, we add the regulatory requirement of background checks.” The offense is evaluated to see if it meets the FDIC’s “minimus threshold” of what is permissible in the banking industry. This, she notes, is what makes having a legal aid partner a critical piece of the program. “Applicants have assistance in how to make their case and put their best foot forward to explain why their history does not pose a risk to the firm.”
As of February, 10% of new JPMorgan Chase employees in the U.S. — more than 2,100 in 2020 — are Second Chance hires.
In April last year, the firm joined a group of major employers and national organizations to launch the Second Chance Business Coalition as part of its commitment to give people with criminal backgrounds a second chance by supporting their reentry into the workforce, community and local economies. The SCBC has grown to include about 40 companies from across industries that are dedicated to second chance hiring and career advancement.
Policymakers and businesses increasingly recognize that providing education, skills training and employment opportunities to people with arrest or conviction histories helps reduce recidivism, and, with people connected to a job instead of re-offending, this increases public safety, builds stronger communities and strengthens the economy. And studies bear out the benefit to the employer: higher rates of retention than in the general workforce, as these employees demonstrate a real passion for employers who gave them that second chance.
Chase’s partnership with a legal aid partner offers opportunity beyond its own firm. “Applicants also have the opportunity to work with a legal partner to get an FDIC waiver — the FDIC’s process to have this person’s criminal background, essentially, waived for them to continue to have opportunity in any company within the banking industries,” says Baptiste. “We’ve really invested in the knowledge of our legal aid partners to prepare and empower these applicants to put their best foot forward and remove all these legal blocks that may come in down the line as they’re continuing to move in their career.” —RaeAnne Marsh
JPMorgan Chase jpmorganchase.com DAILIES TOP STORIES
‘In Business Dailies’ Most Views Last 30 Days
Here are the stories with the most views over the past 30 days (prior to press time) that were features in our In Business Dailies. The In Business Dailies hit email inboxes twice each weekday — at 9:30 a.m. and updated at 4:30 p.m. Sign up today at www.inbusinessphx.com/dailies-signup
Economy & Trends | Cover Story | March 2022
The Ripple Effect: How Nonprofits Build Our Economy
by RaeAnne Marsh “Based on Arizona and U.S. national statistics on impact of the nonprofit sector, it’s very clear that it is an economic driver in terms of workforce development generating economic potential,” says Richard Tollefson, founder and president of The Phoenix Philanthropy Group.
Growth & Enterprise | inbusinessphx.com | March 23 2022
Williams-Sonoma Leases Facility in Glendale Creating More Than 2,400 Jobs
inbusinessPHX.com The Arizona Commerce Authority and the City of Glendale announced today that Williams-Sonoma, Inc., the world’s largest digital-first, design-led and sustainable home furnishings retailer, has leased a 1.25-million-square-foot facility in Glendale.
Economy & Trends | Guest Columnists | March 2022
Affordable Housing Is an Employment Issue
by Don Henninger Why is it that, when trying to solve problems, communities often wait until they are at the edge of a crisis before acting? That’s where things are now where it comes to affordable housing. The alarm bells are sounding. But the truth is, they have been ringing now for a few years and it looks like many cities in the Valley have not been listening.
Growth & Enterprise | inbusinessphx.com | March 15 2022
Goodwill Breaks Ground on First-of-ItsKind Adult High School in Phoenix
inbusinessPHX.com Governor Doug Ducey this morning welcomed Goodwill’s first Excel Center in Arizona at a groundbreaking ceremony.
“Arizonans who are past the eligible age to attend high school and never got a diploma should have all the same opportunities to pursue the career of their choosing,” said Governor Ducey at the groundbreaking. “This brick-and-mortar, tuition-free academy designed to help adult learners get their high school diploma will only accelerate Arizona’s skilled workforce.”
LOOKING GOOD
Local Standouts Recognized for Achievements and Philanthropy
ACHIEVEMENTS
NAIOP Arizona Honored at Industry Merit Awards
The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, was named 2022 Large Chapter of the Year at the annual Chapter Merit Awards. It also won an award for a record Highest Number of New Members among the 52 chapters across the U.S. and Canada last year, adding more than 270 new members in 2021. naiop.org
Have Her Back One of the World’s 50 Most Innovative Companies
Have Her Back has been named to Fast Company’s Annual List of the World’s 50 Most Innovative Companies for 2022. Founded in 2019 by Caroline Dettman, Pamela Culpepper and Erin Gallagher, Have Her Back is a womanowned, minority-led culture consultancy working with companies to tackle equity for all historically excluded groups differently and authentically driving change in corporate workplaces and in culture. haveherback.com
Camelot Homes Receives Top Honors in Homebuyers’ Choice Awards
At the 27th Annual Homebuyers’ Choice Awards, Camelot Homes received first place in the nation for Purchase Experience in the medium builder category. The familyowned luxury homebuilder also received second place for Design Experience, and at least a top five placement for all other categories in which they were nominated. camelothomes.com
PHILANTHROPY
ProShred Arizona raised more than $1,300 for Big Brothers Big Sisters of Arizona and was able to shred and recycle more than 6,000 pounds of documents and files at its recent annual shred event. bbbsaz.org proshred.com/greater-phoenix
Cox Techs Install Critical Technology for the First 3D Printed Home in Arizona
Cox Communications, in partnership with Habitat for Humanity, recently installed Cox Home Security and other critical technology for the first 3D-printed home in Arizona. Cox worked directly with the homeowners to provide all the technology the family would need to fully enjoy their new home on move-in day. The Cox services are donated for one year. Everything else was gifted to the family. Total value of the services donated and goods received by the family is more than $15,000. cox.com • habitat.org
Adamo Ed Offers Innovative Micro-School Model
Adamo Education is the “next evolution of learning,” combining elements from traditional, online and home school education models to create a positive, personalized environment where children love to learn, according to its founder and CEO Tamara Becker, an educator with 25 years of experience in traditional, charter, online and hybrid school models.
The multi-age micro school is a concept similar to the one-room schoolhouse from decades ago. Innovated for flexibility, the micro school might meet for a few hours each day or for three full days a week depending on the needs of students, families and their teachers.
All instruction is led by teachers who hold a valid license to teach in the State of Arizona, and Adamo Education works in partnership with EdKey, Inc., a large charter school network, to strengthen minds using proven, evidence-based, engaging digital curriculum aligned to state standards. This digital platform empowers students to complete assignments on their own time and continue progressing remotely, if needed.
Opening its first micro school in Fountain Hills, Adamo Education has plans to expand to Gilbert, San Tan Valley, Scottsdale, Chandler, Mesa and Queen Creek. —Mike Hunter
Adamo Education adamoeducation.org
Banks and Credit Unions: Understanding the Differences
Bank or credit union? That’s a question most will have when deciding where to begin their financial journey.
Credit unions are often misunderstood. In fact, some common misconceptions about credit unions are that strict requirements exist for membership and that credit unions don’t have up-to-date technology. Both may have been true in the past but are no longer the case. With OneAZ Credit Union, for instance, anyone who lives, works, worships or attends school in Arizona is eligible to join. And technology enables banking “whenever and wherever” thanks to mobile banking apps that put credit unions at least on par with national banks.
For-profit versus not-for-profit: Unlike traditional banks, credit unions are not-forprofit. That means credit unions can put their profits back into their services, resulting in lower account fees and lower interest rates on loans. Because they are usually based in the local community, credit unions also tend to have more flexibility in decision making.
Local and community-based: Banking with a local credit union keeps money circulating in the local community. Local deposits fund local loans made to local residents or businesses, which strengthens the economy of the town, county and state where the transactions take place. The local aspect is also a differentiator between national banks and community banks.
Lower rates: Credit union members traditionally have access to lower interest rates for home and auto loans. Because credit unions are not-for-profit, they’re able to return their earnings back to members in the form of lower interest rates and lower fees. This translates to lower monthly payments and extra savings.
FDIC versus NCUA: The Federal Deposit Insurance Corporation insures traditional banking institutions for up to $250,000 per depositor, per insured bank, for each account ownership type should the bank fail. Similarly, the National Credit Union Administration provides member protection for credit unions. Because members own a share in their credit union, NCUA guarantees up to $250,000 per share owner, per insured credit union, for each account ownership type if the credit union closes or goes into a conservatorship.
Another difference derives from the fact that the relationship with the banker is built on the client being a member rather than a customer.
“Our ultimate goal is to improve the lives and financial well-being of our members, not maximize the stock price for stockholders,” says Kim Reedy, president and CEO of OneAZ Credit Union. “We’ve been helping Arizonans for over 70 years and remain dedicated to supporting social programs and economic development in our communities.” —Mike Hunter
OneAZ Credit Union oneazcu.com
