Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile.
Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Your Money. Personal Finance. Your Practice. Popular Courses. News Company News. Article Sources. Investopedia requires writers to use primary sources to support their work.
These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear.
Investopedia does not include all offers available in the marketplace. Related Articles. About us. At our more than 4, branches Stop by when you need advice or help from our knowledgeable staff. At our 16, ATMs Make deposits and get cash.
You can even set your preferences for extra speed. With chase. With Chase credit and debit cards Buy what you need with the ease and security of our cards. How can we help? Customer service information. Start of overlay. Cancel Proceed. Surprising as it may seem, the US had no central bank to deal with the financial crisis and no money in reserve. As panic increased, customers rushed to their banks to withdraw whatever money remained.
People sat overnight in camp chairs, bringing food and waiting for the banks to open in the morning. Banks took unconventional measures to deal with the crisis. Tellers slowly counted out money to limit withdrawals, and some banks prominently displayed piles of cash in order to reassure worried customers. To stem the panic, it was critical that someone with influence and insight come to the rescue. And the person who stepped in, was J. Pierpont Morgan. More importantly, Morgan had experience with similar financial crises, having rescued the US Treasury during the Panic of He'd become the lender of last resort.
For two weeks, he led a team raising capital for the failing markets, contributing large sums of his own money, and functioning as the country's de facto central bank. Although the actual panic lasted only a few weeks, its aftermath brought on an economic decline that destroyed banks and other businesses and created mass unemployment.
Financial experts consider Morgan's impressive handling of the panic as the work of a bold financier who clearly understood the big picture and took decisive action. In , Congress passed a currency act allowing banks to form reserve associations that could issue money temporarily, in economic emergencies.
And in , shortly after Morgan's death, the US established its much-needed central bank, the Federal Reserve. Elizabeth : saw the start of a war like no one had ever seen before. It was unprecedented in scale. It demanded vast numbers of people and resources and was incredibly expensive. It was known as a total war because it affected every facet of society, including banking. How did a series of bold moves by banks and their employees help the Allied cause? In , U. At the time, it was the largest foreign loan in Wall Street history.
As fighting waged across continents, tensions in the Unites States were mounting. After nearly three years of declared neutrality, in April , U. Congress declared war. Elizabeth : The transition was swift and JPMorgan Chase predecessor banks were quick to respond at home and overseas. Banks organized Liberty Loan drives imploring patriotic citizens to lend money to the government for the war effort.
These war bonds gave many Americans their first taste of investing in financial securities. Many bank executives also stepped in to lead various wartime committees like the Red Cross and the Council of National Defense.
Banks were equally supportive on the front lines. Guaranty Trust Company raised money for an ambulance and sent an armored mobile bank to service soldiers in France. Thousands of bank employees enlisted to fight in the war and sent home dramatic tales from the field that made their way into bank newsletters. Soldier 2 : "We saw shrapnel from the defense guns. It was bursting high in the air. Soldier 3 : "The mines upset and ruined the tanks.
It was a masterly defense, one of the best military feats of the war. Elizabeth : Women stepped in to fill vacant jobs as tellers, clerks and loan officers. In addition to their bank duties, these women were instrumental in fundraising and relief work. Partnering with the Red Cross, they knitted socks and sweaters and packaged surgical dressings for soldiers overseas.
In November , World War I came to an end. Many JPMorgan Chase predecessor banks advocated for the rehiring of veterans and erected memorials to honor bank employees who had given their lives for their country. Though international banking played an unprecedented role during the war, it was the banks' dedicated men and women, working at home and fighting overseas, who battled tyranny and enabled democracy to prevail for all.
Rachel: The blue octagon is an iconic and recognizable logo that's become synonymous with the Chase retail brand today. But did you know that its creation sparked a new movement in the design of corporate logos?
In fact, when the octagon was first launched it represented a benchmark in corporate culture showing how firms were beginning to understand the significance of a strong brand and how they were perceived in what was already a fast paced world.
But what prompted the bank to reassess its logo back in ? Shortly after the merger that created the Chase Manhattan Bank, then Vice Chairman, David Rockefeller, chose the design firm Chermayeff and Geismar Associates, to create a logo that would best reflect Chase Manhattan's increasing global reach and complement the modern design of the company's brand new 60 story headquarters in Lower Manhattan.
The previous logo failed to capture the unique feel of the brand. Its complex design used five different elements from the company's two main heritage banks, the Bank of the Manhattan Company and Chase National Bank.
Rockefeller knew the logo needed a strong graphic, something recognizable around the world. Inspired by a simple geometric shape the design firm hired by Rockefeller created the octagon logo, a visual that was sleek, attractive and timeless. On November 21st, , the new logo was unveiled, one of the first abstract logos used in banking. With its clean lines and modern look the dynamic symbol mapped against Chase Manhattan's corporate vision demonstrating, as the designers put it, how all activity is centered around a square, implying growth from a central foundation.
Just like any business, Chase and its logo have gone through subtle changes over the years. Although the original design featured multiple colors and patterns, in the solid blue octagon was adopted. While variations in the color and typeface have evolved over the years, the strength of the octagon remains the enduring symbol of the Chase brand.
Steven: As early as , JPMorgan Chase's predecessor banks used advertising to tell the public about their banking services and attract new customers. In the years since our firm was founded, banks have relied on this powerful tool to bring in new business. Early advertisements took the form of newspaper notices and text-heavy magazine ads. But that changed during the s and '60s, a heyday of bank advertising that reached out with more creative content to a broader demographic of potential customers.
The ad industry was coming of age and JPMorgan Chase's predecessor banks used the best in the business to craft attention-grabbing promotional campaigns. In print, radio, and TV, the banks advertising agencies worked hard to change consumers' perceptions of our banks, turning them from impersonal institutions to customer-friendly financial firms, providing services to make their lives easier and better.
The ads featured people trying to relax or have fun while shackled to giant eggs. Then there were the 'You Have a Friend at Chase Manhattan' ads, which sought to personalize the banking experience globally.
This iconic campaign launched in and ran for over 15 years. Whether making a deposit in Malaysia, or wiring money from Mexico, the message around the world was that no matter where you are, Chase is there for you. In contrast to Chase's global focus, Chemical Bank targeted a more specific audience.
TV ad spokesperson: The New York woman. When her needs are financial, her reaction is chemical. Chemical New York. Steven: This campaign was one of the first in the industry to market directly to women. It was right on trend as the decade saw women entering the workforce in greater numbers and gaining more economic power. With the standard of living on the rise, the s also saw a boom in car sales and with that, auto focused ad campaigns.
The bank reminded customers that, like a sponge, their old, unreliable cars soaked up money in the form of frequent repairs and gasoline. But a Manufacturer's Hanover auto loan could put them into a new, more efficient car and help them save money.
The campaign was a success, bringing in thousands of new loans for the bank. In , the same department unveiled its head turning 'Any Car' campaign, showcasing a vehicle created from the parts of 22 different cars. It was the focal point of an aggressive auto loan program. The message? That the bank provided loans for any car, new or used.
This amusing campaign featured these quirky composite cars and print, TV and radio ads and parked them in branches for customers to marvel at. During this mid-century Golden Age of Advertising, each of these banks used clever language and creative imagery to capture the spirit of the time and effectively communicate why it was a great idea to bank with us.
Steven: Technology has revolutionized how bankers and consumers handle money in amounts ranging from the single penny to billions of dollars. Early banks, including those that would become part of JPMorgan Chase, added up dollars and cents by hand, a time consuming task that left a lot of room for error. Over the years, JPMorgan Chase and its predecessors pioneered technologies that saved money and dramatically increased the speed at which bank work could be accomplished.
Around the turn of the 20th century, even simple advances improved the employee and customer experience. The hand cranked adding machine of the s did the work of two people. The direct dial phone eliminated the need for a switchboard, while the electric coin counting machine tallied with accuracy and was up to five times faster than counting by hand. In the s, check processing, the backbone of personal banking, was greatly improved with the Recordak.
Bank employees used the machine to process large volumes of checks entering the bank by photographing them, saving hours of work a day, and guarding against forgery. But it was the introduction of the electronic computer in the s that revolutionized banking, propelling the industry forward at an unprecedented pace. Computers quickly became a staple in back offices across the country, and many of our predecessor banks built entire data processing centers devoted to the new technology.
In , Chase Manhattan Bank installed an IBM computer, which enabled the staff to process transactions at lightning speed. Relying on new computer technology, employees processed checks using a high speed sorter that could read magnetic ink characters.
Within the first year, it was processing over a million checks per day. As computerization spread across the country, so too did the bank credit card, which transformed America's shopping habits. Now, instead of opening individual charge accounts with each store, bank clients could use one card for their purchases at any store. ATMs appeared in malls, airports and overseas, making it possible to get cash and perform transactions 24 hours a day.
The trend for banking whenever, wherever and however you'd like continued. With Bank One's Channel , an early home computer banking program launched in , customers could bank without ever leaving the house.
The internet brought banking at home into the 21st century, allowing customers to complete transactions securely online through personal computers, while mobile apps like Chase Pay meant banking could be done with the swipe of a finger on a phone, tablet or watch from anywhere in the world.
JPMorgan Chase has come a long way, from bankers computing numbers by hand to a global team of technologists working hard to keep us ahead of the curve. Behind the scenes, the firm is developing new technologies, deploying artificial intelligence and working in the cloud to advance the financial landscape. This culture of innovation is helping employees work smarter, and customers bank better, every day. We are responsible for preserving the history of the firm and its predecessor institutions, over of them.
The firm today is a result of many bank mergers and acquisitions over the years, and is built on the legacy of those predecessor banks. Our valuable collection tells the story of JPMorgan Chase and will preserve our history for future generations to come. Let's take a look around. By the s, the Glass-Steagall Act required J. This restriction caused the company to focus on its commercial lending and to create a separate company in to conduct the investment banking operations. In , the company resumed using the J.
Bank One was founded in and was the sixth largest bank in the nation. In , JPMorgan Chase acquired the company.
0コメント