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Wells Fargo Donates $600,000 for Revitalization Efforts in Los Angeles County

September 13, 2019

LOS ANGELES--(BUSINESS WIRE)--Sep 13, 2019--

Wells Fargo & Company (NYSE: WFC) today announced $600,000 in donations to local nonprofits to support housing, education and neighborhood revitalization for Los Angeles residents.

“The NeighborhoodLIFT program is another example of our commitment to Los Angeles and our efforts to bring forward housing affordability solutions to communities across the U.S.,” said David Galasso, Wells Fargo lead region president Greater California . “The program will help hardworking families and individuals get on the path to successfully becoming homeowners.”

The grants are funded by the Wells Fargo Foundation and follows Wells Fargo’s announcement in June of an evolution in the company’s philanthropic strategy that includes a $1 billion commitment over the next six years to address the U.S. housing affordability crisis.

NeighborhoodLIFT local initiative grants will be awarded to the following local nonprofits:

Wells Fargo donates $100,000 “LIFT the Block” grants to Century Housing and Pacoima Beautiful

As part of the Los Angeles NeighborhoodLIFT program, Wells Fargo will also donate a total of $100,000 in “LIFT the Block” grants to Century Housing and Pacoima Beautiful. Century Housing will receive $50,000 to support small business facade improvements on Main Street in the City of San Pedro. Pacoima Beautiful will receive $50,000 to plant edible gardens along residential right of ways. The sidewalk gardens will provide native herbs and fresh produce for the Mercado Pacoima Farmers Market, and landscaping will mitigate flooding by capturing storm water and employing solar-powered irrigation.

More than 600 homeowners created in Los Angeles through LIFT programs

The Los Angeles NeighborhoodLIFT program local initiative grants are part of a $24.8 million philanthropic investment by Wells Fargo — first announced in 2012 and expanded in 2019 to boost local homeownership and revitalize neighborhoods. A collaboration with NeighborWorks ® America and Neighborhood Housing Services of Los Angeles County, the NeighborhoodLIFT program has created more than 600 Los Angeles area homeowners by offering homebuyer education plus down payment assistance grants.

In the wake of the housing crisis, Wells Fargo came together with NeighborWorks America to develop the NeighborhoodLIFT program in 2012. It has been introduced in 74 communities across the U.S. and is the single largest corporate philanthropic effort in Wells Fargo’s history, with a $475 million investment. LIFT programs have created nearly 22,000 homeowners by offering homebuyer education plus home down payments assistance grants. A video about the NeighborhoodLIFT program is posted on Wells Fargo Stories.

About Wells Fargo

Founded in 1852 and headquartered in San Francisco, Wells Fargo & Company (NYSE:WFC) provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,700 locations, more than 13,000 ATMs, and the internet (wellsfargo.com). With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. With its corporate philanthropy, Wells Fargo aims to pave a path to stability and financial success for underserved communities by focusing on housing affordability, small business growth, and financial health, among other local community needs. In 2018, Wells Fargo donated $444 million to nearly 11,000 nonprofits. For 10 consecutive years, Wells Fargo has held the honor of No. 1 in workplace giving by United Way Worldwide. Wells Fargo team members also actively support communities by donating more than 2 million hours of volunteer time in the last year. News, insights and more information on the company’s overall corporate responsibility are available at Wells Fargo Stories and www.wellsfargo.com/impact.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190913005005/en/

CONTACT: Media

Josefina Talavera, 213-253-3424

Josefina.Talavera@wellsfargo.com

@JtalaveraWF Stephanie Grant, 760-317-6505

Stephanie.Grant2@wellsfargo.com

@SGrantWF

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: BANKING URBAN PLANNING PROFESSIONAL SERVICES PHILANTHROPY FOUNDATION FAMILY CONSUMER RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY WOMEN FINANCE SENIORS

SOURCE: Wells Fargo & Company

Copyright Business Wire 2019.

PUB: 09/13/2019 02:45 PM/DISC: 09/13/2019 02:45 PM

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