August 5, 2022
Chase aims for four Worcester-area locations by 2025
Photo | Timothy Doyle
Chase branch at Gold Star Blvd., Worcester
By Timothy Doyle
With their first Worcester branch set to open next month at 81 Gold Star Blvd., Chase Bank, the consumer banking division of New York City based JPMorgan Chase, told WBJ that it plans to open three additional branches in the Worcester area.
WBJ spoke with Ali Zaidi, the Chase market director for Worcester and Springfield on Thursday. He could not say exactly where the branches were planned, citing regulatory reasons.
When asked how a banking giant like Chase expects to gain market share in an area which has a strong ecosystem of local banks, Zaidi said that Chase wants to “out-local” the local banks.
First, the bank would be hiring employees who live in local communities and who represent the makeup of those communities.
Philanthropy will play a part in being connected to the areas where Chase puts its new branches, though Zaidi would not commit to which local charities Chase would be supporting. Decisions about community giving will be guided by employees hired locally.
Zaidi also intends to strengthen the bond between Chase and the communities it will be entering by hosting financial literacy classes at its branches. Each branch will feature a large lounge-like area where seminars can be held.
Somewhat a local himself, Zaidi lived in Massachusetts for 18 years and attended Bentley University in Waltham. He moved to New Jersey to work for Wells Fargo before being called back to Massachusetts by Chase to lead its expansion into Central and Western Massachusetts. He now lives in Shrewsbury.
Commitments to diversity, philanthropy, and financial literacy are hardly unique to Chase, though.
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