It’s estimated that more than 35 percent of the nation’s military spouses are chronically unemployed. In communities like El Paso, Texas—home to more than 40,000 military-connected families—the rate of spousal unemployment is significantly higher than the national average. For this…
Syracuse University, JPMorgan Chase partner to establish national Institute for Veterans and Military Families
Institute is first of its kind in higher education
Syracuse University and JPMorgan Chase & Co. (NYSE: JPM) announced today the creation of the Institute for Veterans and Military Families. The institute is the first of its kind and will serve as a national center in higher education focused on the social, economic, education and policy issues impacting veterans and their families post-service.
Through the pillars of educational programming, employment and actionable research, the institute will provide in-depth analysis of the challenges facing the veteran community, capture best practices and serve as a forum to facilitate new partnerships and strong relationships between the individuals and organizations committed to making a difference for veterans and military families.
JPMorgan Chase has made an initial commitment of $7.5 million over the next five years to support the launch and subsequent growth of the Institute and its programs.
“We owe our nation’s veterans more than gratitude—we owe them the opportunity to lead successful lives following their service,” said Frank Bisignano, JPMorgan Chase chief administrative officer who is also responsible for the firm’s Home Lending business. “We think the Institute for Veterans and Military Families will help bring to bear the resources of our country’s best minds to help veterans and their families in their post-service lives.”
“The issues and challenges faced by this generation of veterans will be part of public discourse for decades to come, and the Institute for Veterans and Military Families at Syracuse University will serve as a leading voice in that conversation in a way that extends the long and proud history of Syracuse’s support for those who have served the country in uniform,” said Mike Haynie, SU’s Barnes Professor of Entrepreneurship at the Whitman School of Management and the founding director of the Institute.
The creation of the institute builds upon the successful and groundbreaking technology collaboration launched by SU and JPMorgan Chase in 2007. More recently, in February 2011, JPMorgan Chase and SU announced the launch of a new online Technology Certificate for post-9/11 veterans who are pursuing a career in technology. The tuition-free program is scheduled to begin in fall 2011.
“Universities can play a critical role in forging cross-sector partnerships to support our veterans and their families,” said SU Chancellor and President Nancy Cantor. “SU has a proud legacy of national leadership in serving our veterans, reaching back to the wake of World War II. Today we’re leading the way once again with our partner JPMorgan Chase to create this first-of-its-kind institute in American higher education. In today’s global knowledge economy, it’s critical for higher education to help empower returning veterans to leverage their talents and not only prosper, but spur economic opportunity with their entrepreneurial spirit.”
Syracuse University has a long tradition of educating military veterans that includes tailored academic programs for veterans, the Yellow Ribbon Education Enhancement Program and an on-campus Veterans Resource Center. Additionally, the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV) is a groundbreaking and nationally recognized program founded at SU’s Whitman School of Management in 2007 that trains veterans in entrepreneurship and small business. The EBV and its innovative approach to transitioning veterans from military to civilian life has been named a national “Best Practice” for serving soldiers and their families by the Secretary of the Army, and one of the “10 Best” entrepreneurship training programs in the U.S. by the editors of Inc. magazine.
Support of the Institute for Veterans and Military Families is demonstrative of JPMorgan Chase’s longstanding commitment to the military and veteran community. It is a key part of a comprehensive, firm-wide strategy to understand and address the unique needs of service members, veterans and their families, including specific programs in the areas of homes, employment and education.
“We will look to the institute to conduct actionable research into all aspects of a veteran’s transition from the military to post service life,” said Tom Higgins, head of Military and Veterans Affairs at JPMorgan Chase. “Addressing the issues facing military families requires us to understand all of the variables involved. Success will also require partnership and collective action by leaders from industry, government, education and non-governmental organizations—and veterans themselves.”
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 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 world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com.