Apr 24, 2013
Through its Prepaid Card Program, J.P. Morgan’s Treasury Services (TS) business helps the American Red Cross efficiently distribute aid to victims of natural disasters.
With its devastating force, Hurricane Katrina ravished the Gulf Coast in the southern United States in 2005, leaving millions of evacuees displaced from their homes; Hurricane Sandy wreaked similar havoc in 2012, and in both instances, J.P. Morgan was able to help.
By providing prepaid card services to the American Red Cross, TS allowed victims of both disasters to immediately purchase essentials, such as food and clothing. For the last 10 years, TS has worked with the organization to issue stored value cards for clients and staff – survivors of natural disasters and volunteers who would travel to disaster-stricken areas to help. Pre-paid cards make the distribution of funds easy, efficient and effective. But even more importantly, it gives victims the power to purchase themselves the items they need.
TS began its relationship with the American Red Cross when the organization was looking for a better way to get funds to its clients.
The TS Prepaid Card Program issues customized cards that are financed through the American Red Cross’ received donations.
Over the past 10 years, the cards have been continuously used by the American Red Cross in instances from helping hurricane victims to providing funds for those who have lost homes and possessions to fire, flood, tornadoes, hurricanes or other severe weather emergencies.
Most recently, TS has partnered with the organization to customize cards after Hurricane Sandy to begin a program to help survivors purchase furniture as they rebuild their homes.
About the American Red Cross:
The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies about 40 percent of the nation's blood; teaches skills that save lives; provides international humanitarian aid; and supports military members and their families. The Red Cross is a not-for-profit organization that depends on volunteers and the generosity of the American public to perform its mission. The Red Cross is grateful to JPMorgan Chase, its employees and clients for their strong financial support of our mission related work. For more information, please visit redcross.org