As part of an ongoing nationwide expansion effort, the New York-based Chase Bank has announced plans to open its first location in Santa Fe.
The announcement comes as Chase, officially called JPMorgan Chase Bank, has expanded its operation into the West, opening outlets in the Dakotas, Montana, and Wyoming.
The bank, with $124 billion in annual revenue, has also opened six locations in Albuquerque over the course of the last two years.
The new Santa Fe location will be located in a former Hallmark card store that closed its doors earlier this year. The address is 2002 Cerrillos Road, some 2 miles to the southwest of downtown Santa Fe.
In an interview with the Santa Fe New Mexican, Claudius Duncan, a regional marketing director for Chase, said the bank’s move to Santa Fe is centered on the “financial health and wellness for all of New Mexico.”
Duncan added that the new Santa Fe location reflects the bank’s desire to serve “small, medium, and large business, consumer business, and government.”
A repurposing of the Cerrillos Road location will see the building of office and conference room space, as well as a lobby. The new bank is expected to open early next year.
With the opening of a branch in Billings, Montana, in the summer of 2021, Chase had opened locations in all of the lower 48 states, ultimately establishing more than 400 new outlets by the end of last year.
Chase has placed a special emphasis on opening up to a third of those new banks in low- to moderate-income communities.
The Chase Manhattan Bank was the result of a merger between the Chase National Bank and the long-standing Manhattan Company in 1955. Chase Manhattan subsequently merged with JP Morgan in the year 2000.
It is today the largest bank in the U.S., with more than 4,700 branches.
By Garry Boulard
