Media Inquiries: Erin Burgy Erin.Burgy@operationhomefront.org or (469) 934-7131
JPMorgan Chase Celebrates 10 Years of Supporting Stable Veteran Housing with Key Commitment to Operation Homefront
SAN ANTONIO, Texas – In commemoration of Veterans Day, Operation Homefront is honored to announce that JPMorgan Chase is continuing their 10-year history of support for military and veteran housing with a pivotal contribution of $400,000 and the donation of fourteen homes for Operation Homefront’s Permanent Homes for Veterans (PHV) program. As a founding partner of JPMorgan Chase’s 1,000 “Homes for Veterans” initiative, Operation Homefront has awarded more than 515 Chase homes to veteran families across the country.
“I can’t begin to express my gratitude to the entire Chase team for helping us help hundreds of military families realize the dream of home ownership,” said Brig. Gen. (ret.) John I. Pray Jr., President and CEO of Operation Homefront. “Their major investment in our important work this Veterans Day will allow us to help many more military families secure stable housing and as a direct result, have the opportunity to thrive, not simply struggle to get by, in the communities — OUR communities — they have worked so hard to protect.”
Operation Homefront, whose mission is to build strong, stable, and secure military families, prides itself on being an outcomes-based organization with measurable results. This $400,000 investment will positively impact the lives of at least 14 veteran families through their Permanent Homes for Veterans (PHV) program.
“We launched our Military and Veteran Affairs program, along with our commitment to donate 1,000 homes to veterans 10 years ago,” said Cerita Battles, Head of Community and Affordable Lending at Chase. “We’ve long since beat that goal, and have enjoyed the partnership with Operation Homefront over the years to help get veterans into permanent homes. We view this funding as a reinvigoration of our commitment to veterans and we couldn’t be more excited to continue this important work.”
Operation Homefront’s PHV program prepares veterans and their families for home ownership by providing a mortgage-free home and the opportunity to work directly with Operation Homefront caseworkers and financial counselors and to learn how to prepare for homeownership. With this funding, Operation Homefront will ensure that program participants will work with their designated case worker to receive invaluable financial counseling, develop individual home ownership plans, and increase their savings.
Since the program began in 2012, over 700 families have entered the PHV program. Of that group, more than 625 families have graduated from the program so far and have been deeded their home, mortgage-free, creating more than $92 million in generational equity. The overall impact of Operation Homefront’s housing programs has been impressive, helping military families enjoy the stability and security they need to thrive in their communities, establish roots and make memories for years to come.
In addition, the Chase investment may be used to support Operation Homefront’s Transitional Homes for Veterans (THV) program. The THV program provides a gateway to stability for transitioning veterans and their families. The program supports veterans who are willing and able to work towards self-sufficiency by providing temporary, rent-free housing and other support services including a caseworker to guide preparation for home ownership, financial education, transition planning, employment coaching and referrals to outside sources. Each family selected for the program lives in the home for two to three years with each home impacting multiple families over the course of 15 years. The program, which launched in 2018, currently has 21 homes nationwide with five families successfully completing the program and purchasing their own homes.
About Operation Homefront
Founded in 2002, Operation Homefront is a national nonprofit organization whose mission is to build strong, stable, and secure military families so that they can thrive – not simply struggle to get by – in the communities they have worked so hard to protect. Recognized for superior performance by leading independent charity oversight groups, 90 percent of Operation Homefront expenditures go directly to programs that support tens of thousands of military families each year. Operation Homefront provides critical financial assistance, transitional and permanent housing, and family support services to prevent short-term needs from turning into chronic, long-term struggles. Thanks to the generosity of our donors and the support from thousands of volunteers, Operation Homefront proudly serves America’s military families. For more information, visit OperationHomefront.org.
About JPMorgan Chase
JPMorgan Chase, a leading global financial services firm with assets of $3.8 trillion and operations worldwide, has supported our veterans since before World War I. Since establishing the Office of Military and Veterans Affairs in 2011, the firm has hired more than 16,000 veterans; facilitated more than 750,000 veteran hires through the Veteran Jobs Mission coalition; awarded more than 1,050 mortgage-free homes to military families in need; and helped nearly 50,000 participants enroll in Onward to Opportunity, a free career training program of the Institute for Veterans and Military Families, which was co-founded and is supported by JPMorgan Chase and Syracuse University. Learn more at: www.jpmorganchase.com/veterans.