Chase Bank 29th & MLK
The Afternoons with Amos PODCAST For Wednesday, July 15, 2015. (Story Starts at 48:52 Mark On PODCAST Media Player And Continues At 1:09:10 Mark). Afternoons with Amos has learned that Chase, Indiana’s largest bank, with 53 branches alone in Marion County, is closing one-third of their branches located in African-American majority neighborhoods. An action that will have severe repercussions on two hard hit Indy neighborhoods.
Afternoons with Amos has been the only Indianapolis media reporting that the Chase Bank at 38th & Washington Boulevard closes July 30th and the Chase at MLK at Eugene, between 29th and 30th closes August 20th. And now Afternoons with Amos has learned, not just from a listener, but from two reliable sources, that the Chase bank in the Meadows will be closing this Fall. That’s three Chase locations, in Black majority neighborhoods closing. So, far Chase has refused to announce if other Indianapolis/Marion County Chase locations are closing. So it seems African-Americans neighborhoods are bearing the brunt of Chase’s closures. Afternoons with Amos, using 2013 Census American Community Survey (ACS) Data, analyzed the racial composition of the neighborhoods where Chase Banks are located. The analysis found that of Chase Bank’s branches located in the city/county, only nine are located in Census tracts where African-Americans are the majority of the population. Those nine branches are: 30th & Shadeland; 29th & Meridian; 69th & Michigan Road; 21st & Post; 38th & Washington Blvd; 56th & Georgetown; 2600 W Michigan St; Meadows; 29th & MLK. By closing MLK in an 89.7% Black area, 38th Street, a 69.5% Black area; and the Meadows, a 86.1% Black area; Chase is reducing the number of Black branches by one-third in Black-majority neighborhoods in America’s 11th largest city; with the 13th largest Black community of any American city. While apparently only reducing their total number of branches in the city/county by only 1.6%!
Chase Bank in the Meadows
Closing the Chase in the Meadows is a stunning, inexplicable decision. Chase’ predecessor Bank One, at the behest of then Mayor Steve Goldsmith, invested in a physical branch in the Meadows neighborhood as part of the City’s efforts to turn a struggling neighborhood around. That bank branch stood there through the worst of the neighborhoods efforts to turn itself around. In the past few years, the area has successfully transformed itself. The area is home to three charter schools, a state BMV location, a new YMCA, a neighborhood health clinic, new apartment developments. Additional commercial development has occurred and more is in the pipeline. The Meadows neighborhood has literally transformed itself and now Chase is abandoning the area? The massive banking mergers between 1991 and 2004 made Chase Indianapolis’ dominant bank. Scarborough Research, which measures consumer shopping and retail habits reports that 36.0% of Indy metro households bank at Chase. Among African-Americans, 30.6% bank at Chase. But Chase isn’t the top financial institution among Indy’s Blacks. Credit unions are with 39.3% of Blacks using them. The Community Reinvestment Act (CRA) is a Federal law requiring banks to show how they’re investing in LMI (low/moderate income) neighborhoods. Chase was asked to respond to closing branches only in Black-majority Indy neighborhoods. Chase has yet to respond to our request for comment or interview.
President Barack Obama At NAACP Convention
(Story Starts At 03:34 Mark On PODCAST Media Player). President Barack Obama, addressing the NAACP’s National Convention in Philadelphia, spokes out boldly about reform of the criminal justice system, re-entry and second chances in an eloquent, sometimes emotional speech. We shared much of the President’s speech with listeners who followed up during the show with reaction. Click Here To See The President’s Full remarks to the NAACP.
Rev. Charles Harrison
(Story Starts At 29:10 Mark On PODCAST Media Player). Rev. Charles Harrison, despite signatures that a shadowy group had rounded up to put him on the ballot as an independent candidate for Indianapolis Mayor, said Wednesday he’s NOT running for Mayor. In a statement, Rev. Harrison said that he feels he can “Best serve our city” by continuing as Pastor of his church and head of the Ten Point Coalition. Harrison also said in his statement “Through these positions, I feel I can truly make a difference, without getting involved in the negativity and political pressures that come with elected office.” Only one listener, though on our Wednesday program, expressed any view on Harrison’s mayoral run. (Tribute Starts At 1:30:25 Mark On PODCAST Media Player). We ended the program remembering the life well lived of Gilbert Holmes, the first and only African-American to run Indiana’s Bureau of Motor Vehicles, IndyGo, Indiana ACLU. Holmes held several other professional positions. Holmes was a Vietnam veteran who earned a Bronze Star for valor. Holmes died June 24th and will be honored July 24th in Indy and Buried with full honors at Arlington National Cemetery. The Afternoons with Amos PODCAST for Wednesday, July 15, 2015 Runs 94 Minutes ©2015 WTLC/Radio One. PODCAST Starts After Brief Video Ad.
