Associate Director of Marketing and Communications
Mission Economic Development Agency (MEDA)
(415) 282-3334 ext. 152
FOR IMMEDIATE RELEASE
June 23, 2020
MEDA Announces $250K Fund to Address Latino Community Challenges During COVID-19 Crisis
Funding will expand already successful promotoras community outreach model
San Francisco — Mission Economic Development Agency (MEDA) today announced a $250,000 fund to meet the challenges faced by San Francisco’s Latino immigrant community during the unprecedented COVID-19 crisis. The fund was created with a grant provided by JPMorgan Chase as part of the firm’s philanthropic and business commitment to address the immediate and long-term challenges of the COVID-19 crisis.
This grant will scale MEDA’s existing roster of outreach workers, or promotoras, to support families, workers and small businesses. These promotoras perform outreach and assessments, plus create referrals to culturally relevant services in the community.
San Francisco’s Latino families are experiencing untold hardship. According to the City’s COVID-19 Data Tracker, Latinos comprise 15% of San Francisco’s population, but represent over 50% of COVID-19 cases. The reasons are threefold: the Latino unemployment rate is higher than average, as few held jobs where telecommuting was possible; many Latinos who still hold jobs are required to have community contact, such as grocery store workers and food delivery; and living in tight quarters in a time of social distancing increases the possibility of disease spreading within a household. Regarding the latter, a MEDA Housing Survey found that 43% of the Mission’s Latino families lived in overcrowded conditions.
“This generous contribution from JPMorgan Chase will allow MEDA to greatly amplify our outreach and services to our community during this unprecedented COVID-19 crisis,” said MEDA Chief Executive Officer Luis Granados. “The scaling of our promotoras model will ameliorate some of the adverse effects of COVID-19 on the community at a time when such succor is needed more than ever.”
“The COVID-19 crisis continues to impact the daily lives of Bay Area residents and threatens to widen the economic gap for underserved families and small businesses run by people of color,” said Allen Fernandez Smith, Head of West Region for Global Philanthropy, JPMorgan Chase. “By collaborating with MEDA and other dedicated nonprofit partners, we aim to help vulnerable Bay Area residents and small businesses weather the COVID-19 crisis today and set a path for a more inclusive local economy in the future.”
This grant is part of an ongoing strong partnership between JPMorgan Chase and MEDA, with the goal to strengthen low-income communities of color.
About Mission Economic Development Agency (MEDA)
Rooted in the Mission and focused on San Francisco, MEDA’s mission is to strengthen low- and moderate-income Latino families by promoting economic equity and social justice through asset building and community development.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.1 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.
JPMorgan Chase & Co. has been serving the Bay Area for more than 130 years and continues to grow there, nearly doubling its branches over the last 10 years and employing nearly 3,000 people locally. In addition to opening the Chase Center, the firm is committing $75 million and advancing local policy solutions over five years to drive inclusive growth and help tackle affordability challenges in the Bay Area as part of the firm’s AdvancingCities initiative. The firm is working with local partners to equip workers with critical job skills, provide capital and expertise that women and minority entrepreneurs need to grow their businesses, invest in new affordable housing models and locally-driven solutions to promoting thriving neighborhoods, and help families build strong financial futures.
Website (Bay Area investments)