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Chase Card Services Announces Multi-Year Effort to Help AARP Foundation Combat Senior Hunger in America

^{Published on 2011-04-06 17:40:40 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Chase Card Services ], a division of JPMorgan Chase & Co. (NYSE: JPM), today announced a collaboration with AARP Foundation that will raise funds to help solve the problem of senior hunger in America. In 2011 and 2012, Chase will automatically donate $0.03 for each purchase made with the AARP^® Visa^® Card from Chase and $1 for each new account openeda"up to $2 million each yeara"to AARP Foundation for Drive to End Hunger, a national effort to end hunger among older Americans ([ www.drivetoendhunger.org ]).

"Hunger among older adults is escalating at an alarming rate in America"

aHunger among older adults is escalating at an alarming rate in America,a said Anisa Tootla, vice president of hunger impact programs at AARP Foundation. aWe know Americans want to give time, food and money to help their older neighbors in need, and we are pleased that Chase has joined the Foundationa™s efforts to get people engaged in giving back.a

The announcement came on the heels of new research from AARP Foundation that indicates 50+ Americans not only believe that hunger is one of the most pressing issues facing our country today, but that they are willing to act to combat the issue. When asked which activities they have engaged in, a majority of respondents nationwide indicated they had given money or food directly to a person in need; including 69 percent in the West, 58 percent in the Northeast, 59 percent in the Midwest, and 62 percent in the South.

The hunger crisis for older Americans is clear. Of the 51 million Americans who face the threat of hunger, nearly 6 million are over age 60. In just two years, from 2006 to 2008, the percentage of older Americans struggling with hunger more than doubled.

"Chase is proud to work with AARP Foundation, which has a proven history of helping better the lives of millions of older Americans,a said Emelie Smith Calbick, general manager, Chase Card Services. aThis relationship and Drive to End Hunger contributions give AARP Visa cardmembers a simple way to make a difference every day.a

Regional Data

According to the latest estimates from the AARP Public Policy Institute, the American South has a higher rate of food insecurity for older Americans than any other region in the country. Of the top 10 states with the most residents at risk of hunger in America, seven of those states are in the South, including Alabama, Arkansas, Kentucky, Louisiana, Mississippi, South Carolina, and the District of Columbia. Twelve percent or more of the senior residents of these states live below the poverty rate.

AARP research reveals the states in which American seniors are most at risk:

For more information about giving back through the Chase program, visit [ www.aarpcreditcard.com ] and click on Help End Hunger.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the worlda™s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at [ www.jpmorganchase.com ].

About AARP Foundation

AARP Foundation is AARPa™s affiliated charity. The Foundation is dedicated to serving vulnerable people 50+ by creating solutions that help them secure the essentials and achieve their best life. AARP Foundation focuses on: hunger, housing, income and isolation as our key mission areas. The Foundation envisions: aa country free of poverty where no older person feels vulnerable.a™ Foundation programs are funded by grants, tax-deductible contributions and AARP. For more information about AARP Foundation, please log on to [ www.aarp.org/foundation ].