Chase, a consumer and commercial banking brand of JPMorgan Chase, has upgraded products and technology to link 694 former Washington Mutual branches located in seven states with about 3,550 Chase branches.
Reportedly, the seven-state conversion is the second of three retail conversions to bring all former WaMu branches onto Chase’s computer systems and under the Chase brand. The conversion of 7.6 million accounts in Florida, Georgia, New York, New Jersey, Connecticut, Texas and Illinois represents $40 billion in deposits. Nearly 300,000 loan accounts with approximately $15 billion in balances were also converted to Chase systems.
The bank expects that by the end of the year, customers will be able access to 25 million checking accounts at any of Chase branches and 14,000 Chase ATMs across the US.
Earlier, JPMorgan Chase acquired the banking operations of Washington Mutual from the Federal Deposit Insurance Corporation (FDIC) in September, 2008.
