NEW YORK–(HISPANIC PR WIRE – BUSINESS WIRE)–April 9, 2003–Chase and MasterCard International today announced they would celebrate their joint commitment to the Hispanic Heritage Youth Award for Academic Excellence by marking the fifth consecutive year of sponsorship.
The Hispanic Heritage Youth Award is presented annually by the Hispanic Heritage Awards Foundation, the nation’s most prestigious organization promoting Hispanic excellence. The program’s mission is to identify and prepare the next generation of role models by promoting education and high standards and celebrates the accomplishments of Hispanic students across America.
“Chase and MasterCard have a shared commitment to support nationwide efforts that enhance the educational development of young people,” said Rich Srednicki, Executive Vice President, Chase Cardmember Services. “With our fifth year of sponsorship, we celebrate the continued recognition of talented young candidates for this prestigious award.”
“MasterCard International is proud to continue our tradition of honoring the future leaders of the Hispanic community through the Hispanic Heritage Youth Award for Academic Excellence,” said Lawrence Flanagan, Executive Vice President, Chief Marketing Officer, MasterCard International. “Both MasterCard and our partner, Chase, place a high value on the long-term benefits our support will provide.”
“It’s important dedicated corporate citizens like Chase and MasterCard International recognize and address the unique needs of the burgeoning Hispanic community,” said Jose Antonio Tijerino, President and CEO of the Hispanic Heritage Awards Foundation. “With 35 percent of our entire population under 18 years, our future truly lies in the hands of our youth. We have found that there is no greater inspiration to a young person than another young person.”
“I commend Chase and MasterCard International,” Mr. Tijerino continued, “for recognizing the need to promote these outstanding students as role models for their peers for five years now.”
Winners, all Hispanic high school seniors, will be announced in each of 12 host cities in April and May and the honorees will be celebrated in special ceremonies where two Regional Youth Award winners (Gold and Silver Medallion) will be honored for their achievements in six different categories. Honorees receive educational grants ($2000 and $1000 respective to Gold and Silver Medallions).
Following is the schedule for the special ceremonies in each of the 12 host cities: Phoenix (April 10); Philadelphia (April 22); Washington, DC (April 23); San Diego (April 29); Los Angeles (May 1); Dallas (May 6); San Antonio (May 7); Houston (May 8); Chicago (May 13); Miami (May 15); New York City (May 19); and San Francisco (May 28).
Subsequently, one national winner representing each category is chosen from the pool of Regional Youth Award winners and receives an additional $5000 educational grant and a laptop computer presented at the National Youth Award presentation in Miami and at the Hispanic Heritage Award ceremonies in Washington, DC.
In addition to the Academic Excellence program, the 2003 Hispanic Heritage Youth Awards will honor Hispanic students in the following categories: Mathematics, Leadership and Community Service, Journalism, Sports, and Health & Science.
Chase has launched or expanded numerous banking programs and services focusing on the Hispanic population. One of Chase’s key initiatives for its business is offering its Hispanic credit card and debit card customers the option of being served by bilingual staff and receiving their correspondence in Spanish. As another example, Chase Home Finance has developed many specialized programs designed to reach Hispanic customers desiring home ownership, including nationwide informational seminars, bilingual staffing and in-language collateral and application documents. In January 2003, Chase Home Finance made the largest commitment by any lender – ever – to provide financing to minority and new immigrant families. The “Dream Maker Commitment” is a $500 billion commitment to Hispanic and other under-served groups with a goal to increase homeownership rates and put people in homes. Spanish-speaking employees are present within many of the bank’s branches in New York, New Jersey, Connecticut and Texas, and Chase has created http://www.BancoChase.com for Hispanics who feel more comfortable doing their online banking in Spanish. This site also enables customers to apply for a Chase credit card online, in Spanish or English.
In November 2002, the firm launched an extensive Spanish-language advertising campaign. In addition, in 2002, JPMorgan Chase provided $6.5 million in philanthropic grants to nonprofit organizations that serve a predominantly Hispanic clientele.
As an employer of choice, JPMorgan Chase has been honored as a “Top-50 Company for Hispanics” in Latina Style and Hispanic Magazine for three consecutive years. JPMorgan Chase also recently launched the “National Hispanic Corporate Achievers Award,” with the primary mission of providing Corporate America with a mechanism to honor employees of Hispanic origin who have provided their employers with outstanding performance and innovation.
MasterCard International provides financial institutions with a comprehensive suite of programs and materials dedicated to the United States Hispanic community. Through established relationships with Hispanic community-based organizations such as the League of United Latin American Citizens (LULAC) and the National Council of La Raza (NCLR), MasterCard has delivered financial education materials and programming to meet the needs of Hispanic-consumers. MasterCard’s commitment to the Hispanic community also extends to support of the Hispanic College Fund and Hispanic Heritage Awards.
MasterCard was the first financial services company to advertise to U.S. Hispanics in Spanish, leveraging its award-winning “Priceless” campaign to create numerous Spanish-language executions. Additionally, MasterCard launched http://www.MasterCardenEspanol.com, the first Website dedicated to the Spanish-language market by a major payment brand in the United States and has developed numerous consumer promotions designed for the U.S. Hispanic market. Debit MasterCard, Maestro and Cirrus programs are fully integrated into the program mix, which also include an assortment of educational brochures, statement inserts, ATM and VRU messaging, sponsorships, financial management workshops, as well as Web-based content.
About Chase
Chase’s credit card portfolio, issued and owned by Chase Manhattan Bank USA, N.A., has more than 29 million cardmembers and over $50 billion in outstandings. Chase is the fourth largest credit card issuer in the United States and, with its joint venture with First Data Corporation, is the largest merchant acquirer in the U.S.
J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $759 billion and operations in more than 50 countries. The firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world’s most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the internet at http://www.jpmorganchase.com.
About MasterCard International
MasterCard International has a comprehensive portfolio of well-known, widely accepted payment brands including MasterCard, Cirrus and Maestro. With approximately 25,000 MasterCard, Cirrus and Maestro members worldwide, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is a leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. The MasterCard award-winning Priceless(R) advertising campaign is now seen in 96 countries and in 45 languages, giving the MasterCard brand a truly global reach and scope. With more than 30 million acceptance locations, including over 820,000 MasterCard/Maestro/Cirrus ATMs around the world, no payment card is more widely accepted globally than MasterCard. For the year ended December 31, 2002, gross dollar volume exceeded US$1.14 trillion. MasterCard can be reached through its website at http://www.mastercardinternational.com.
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CONTACT:
JPMorgan Chase, New York
Catherine Keary, 212/270-7171
or
MasterCard International
Chris Monteiro, 914/249-5826
