JPMorgan Chase has invested $1.05 million into the UNC Center for Community Capital to help find new ways to make under-resourced communities more economically inclusive.

“This research will help us better understand how strategic community investments can enhance lifetime opportunities for low- and moderate-income families,” said executive director Lucy Gorham.

Working with two nonprofits, the center will create an “opportunity index” to measure the availability of resources such as high quality education, health care, job opportunities and financial services.

After they compile the index, the center will work with community leaders and residents to see what barriers exist and how they can be addressed.

“Too many people in our country still struggle to make ends meet and we need the public and private sectors to work together to help them,” said Mel Martinez, chairman for JPMorgan Chase in the Southeast U.S. “Financially healthy individuals increase the financial stability and resiliency of our communities.”

The center will also partner with three affordable housing providers in New York, Chicago and Cleveland. They will be starting pilot programs to integrate financial services to help families improve their credit score and prepare for new employment.

“We look forward to working with local partners to explore what is working and what is not, always a critical part of innovation,” said Roberto Quercia, who is co-directing the project with Gorham. “Our findings can be disseminated beyond the university and into the real world where they can inform public policy and practice on the ground.”

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