This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.
PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Wells Fargo Donated $444 Million to 11,000 Nonprofits in 2018

February 21, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Feb 21, 2019--Wells Fargo increased its philanthropic impact in 2018 by donating $444 million to nearly 11,000 nonprofits to help communities and people in need. The company has been committed to local communities throughout its 167-year history and has increased its philanthropy 25 times over the past 28 years.

“We approach philanthropy with a problem-solving mindset,” said Wells Fargo CEO and President Tim Sloan. “We want to help people find an affordable place to live, work with diverse small business owners on growth and expansion, and support young people in learning job skills that can translate into a steady income. It is a privilege to collaborate with non-profits in the U.S. and around the world to make a difference in the communities where we live and work. And we recognize that families and neighborhoods need the public and private sectors to work together in providing both resources and expertise.”

Making an impact in the community

In collaboration with thousands of community leaders, Wells Fargo concentrated its 2018 philanthropy on addressing urgent community issues. Examples include:

NeighborhoodLIFT ®commitment through 2020Tribal Solar Accelerator FundscholarshipsHands On Bankingresiliency planningWells Fargo Innovation Incubator (IN 2 )

“We are living in an unprecedented time in which people need to come together to solve challenges,” said Jon R. Campbell, president of the Wells Fargo Foundation. “With so many Americans working to make ends meet, there’s an increased urgency for immediate assistance as well as strategic, long-term action to address systemic challenges like poverty, affordable housing and sustainable neighborhoods. Part of what makes Wells Fargo’s philanthropy unique is our local approach, a commitment extended by the volunteerism of our team members.”

Recognizing team member philanthropy and volunteerism

In 2019, for the 10th consecutive year, United Way Worldwide has recognized Wells Fargo for having the No. 1 team member giving campaign in the U.S. This distinction comes from team members who collectively pledged $75.4 million in 2018 during Wells Fargo’s internal Community Support Campaign, which aims to lift communities and take on challenges like economic disparity, hunger, homelessness, animal welfare and more.

Wells Fargo team members also donated 2 million hours of volunteer time in 2018. More than 96,000 team members across the U.S. volunteered at local schools, food pantries, homes for veterans and underserved families, animal shelters and more. Wells Fargo offers 16 hours of paid volunteer time annually.

Supporting team members during times of need

Wells Fargo has a long tradition of helping its team members during times of financial hardship. In 2018, $6 million in emergency grants for team members were made available in the company’s WE Care Fund. The fund was established in 2001 to help team members suffering unexpected medical issues, natural disasters and other life-changing events. The Wells Fargo Team Member Dependent Children Scholarship Fund is another employee resource that helps cover college costs so parents and students can worry less and enjoy the college years more.

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 7,800 locations, more than 13,000 ATMs, and the internet (wellsfargo.com). Wells Fargo’s vision is to satisfy customers’ financial needs and help them succeed financially. With approximately 259,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. In 2018, Wells Fargo donated $444 million to nearly 11,000 nonprofits in support of affordable housing, small business growth, financial education, and sustainability, among other community needs. 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 make a difference by donating more than 2 million hours of volunteer time in the last year. News, insights and more information on the company’s corporate responsibility are available at Wells Fargo Stories.

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CONTACT: Kim Erlichson, 201-463-4243




SOURCE: Wells Fargo & Company

Copyright Business Wire 2019.

PUB: 02/21/2019 10:05 AM/DISC: 02/21/2019 10:05 AM