COMMUNITY BUILDING THROUGH FINANCIAL EDUCATION
Milwaukee native Jerry Johnson, vice president community manager at JPMorgan Chase, is on the ground equipping residents and businesses in the Black community with tools to build generational wealth. Through free resources such as weekly financial literacy workshops and home-buying seminars and connections to housing and job opportunities, Johnson empowers marginalized people to overcome systemic barriers to financial well-being. After learning of the burden caused by criminal justice debt, he also pioneered an education program at the Milwaukee County Community Reintegration Center to encourage financial literacy among the incarcerated. As he fosters relationships with a community that has historically distrusted the financial sector, Johnson is evolving community banking into community revitalization.
my mom did her best to stretch every dollar. She worked two jobs, and at age 15, I started working part-time so I could contribute to the household and buy my own school clothes. We always made ends meet, but looking back, I realize my mom never had the opportunity to build generational wealth because she didn’t know the impact of investing for the long haul. Many Milwaukeeans haven’t had that opportunity, either.
My work in community banking is also about community building. Historically, Black folks have experienced a lack of access to capital and banking tools, and they’re also targeted by predatory lending practices that can negatively impact them financially. Many of them are also up against significant systemic barriers, such as diminishing educational and job opportunities.
It’s my goal to help people overcome these barriers through financial literacy education, but also to build up the community by creating avenues to help people achieve their goals. Along with providing checking accounts or spending and saving plans, we connect people with the resources they need to thrive, whether that’s jobs, housing or investment opportunities. What good is having all this information if we’re not helping you create a blueprint for your own success?
Financial health is a lot like physical or mental health. It’s about what you do, not just what you know. If you have high blood pressure, your doctor might advise you to exercise more and eat better. But unless you have the resources to actually implement that insight, you won’t be healthy. By empowering people to overcome challenges and meet their goals today, we can help them build a legacy for tomorrow.”