Chase stressing local service

With the internal transition from Washington Mutual to JPMorgan Chase almost complete, the chairman of its Pacific Northwest operations said Thursday the financial behemoth will step up efforts to cement its identity as an institution anxious to serve its customers and their communities.

Phyllis Campbell said the shock of losing one of the region’s most recognizable brands is giving way to an appreciation for Chase’s stability and strength.

But residents want assurances Chase, the largest bank by deposits in the United States, will put those resources to work in the Northwest, she said in Spokane.

“We have to earn that trust, and we will,” said Campbell, a former Spokane banker who took the Chase position April 1 after six years as head of the Seattle Foundation. Chase acquired WaMu last fall, when poor mortgage-lending practices brought down the region’s largest financial institution.

Chase opened lines of credit or made loans to 66,000 customers in the first quarter, a commitment worth $1.7 billion, Campbell said.

The bank has also set aside $2.6 million for nonprofit organizations focused on housing, education and arts and culture, she said, adding that Chase favors direct grants over sponsorships.

She said Chase will expand its 19-branch network in the Inland Northwest, do more small-business lending, and add other services over the next three to five years.

“We’re going to be in a growth mode,” Campbell said.

In remarks to the Downtown Rotary Club, she praised Spokane’s sense of community, recalling the support she received as she built a career at Old National Bank and U.S. Bank, and as a cancer patient.

Add a more diverse mix of immigrants, and Spokane could claim a place as a global city, she said.