SWAMPSCOTT ― Chase Bank has announced that it will soon open a new branch location in town.
“Chase will open a branch in Swampscott later in 2022 and we are excited to join the community and serve individuals, families and small businesses through all the important stages of their lives,” said Roxann Cooke, JPMorgan Chase consumer bank regional and managing director for the New England and Greater Pennsylvania region.
The branch is slated to open at 970 Paradise Road, former site of UNO Pizzeria and Grill, which announced its closure in February.
“It’s with sadness that we write to let you know that our SWAMPSCOTT UNO has closed,” it said in a Facebook post dated Feb. 7. “We have enjoyed being a part of this wonderful community and will truly miss the friendships and partnerships we have made.”
Plans for the new bank branch will include demolition of the current building at 970 Paradise Road. The Zoning Board of Appeals approved the project, to be developed by Core States Group, at a meeting on October 26, 2021.
The new bank, which will complement a Chase ATM located at 400 Paradise Road, is part of JPMorgan Chase’s aggressive expansion plans throughout New England, according to Cooke.
“In 2018 we announced our goal of opening more than 50 branches across New England and I’m proud to say we are right on track,” she said. “We continue to identify communities like Swampscott where we can create jobs, bring financial health resources, and help drive economic growth for the neighborhood.”
Other Chase locations on the North Shore include Peabody, Lynnfield, and Revere.
Town Administrator Sean Fitzgerald said he was pleased to welcome Chase to its new home at 970 Paradise Road, adding that he applauded the company’s commitment to the Community Reinvestment Act, but noted that Swampscott “is on its way to becoming the bank capital of the state.”
In addition to the Chase ATM and the incoming branch location, there is currently a Bank of America, a Salem Five Bank, a Santander Bank, an Eastern Bank, and a Citizens Bank on Paradise Road alone.
“We’re always hoping to bring in new businesses in,” Fitzgerald continued, “Especially new restaurants, small businesses and businesses that reflect the growth and diversity of our town.”
