JPMorgan Chase (JPM) will donate its refurbished technology to nonprofit groups and schools through a partnership with Good360.
The New York bank will replace hard drives in more than 3,000 of its computers and then donate the computers through Good360's online product donation marketplace over the next year. Nonprofits will be able to acquire up to 15 products annually and five per quarter through the program called Tech Warehouse, which is part of JPMorgan's Social Good programs.
Charities will be asked to pay $65 to cover shipping and handling fees and they must properly recycle the computers when they no longer need them. Donations also must be used for the primary purpose of serving the ill, needy or young people and cannot be resold, auctioned or traded, JPMorgan said Monday.
"Since 2009, we've been able to redeploy almost 30 percent of the more than 250,000 desktops, laptops, monitors and printers collected, avoiding costs and reducing our environmental impact," Guy Chiarello, JPMorgan's chief information officer, said in a news release. "We are proud to develop Tech Warehouse with Good360 as a way to continue our work toward preserving the environment while providing useful technology for those in need."