[November 08, 2018] |
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Wells Fargo Surpasses $130 Million in Donations to Veteran-Related Nonprofits
In honor of Veterans Day, Wells
Fargo & Co. (NYSE:
WFC) announced the company has donated a total of more than $130
million since 2012 to support military- and veteran-related nonprofits
focused on housing initiatives, career transition and financial
education.
Highlights include:
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Donated more than 350 mortgage-free homes, valued at more than $55
million, to veterans in all 50 states.
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Hired more than 8,400 veterans, and participated in more than 1,200
military job fairs.
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Provided basic financial education to more than a million military
service members, veterans and their families.
"Wells Fargo's (News - Alert) commitment to military service members, veterans and
their families spans more than 165 years," said Jerry Quinn, Military
Affairs Program manager and Army reservist. "Our accomplishments are
possible because of our coordination with military and veteran
communities. We're honored to support them in tangible ways."
Wells Fargo Military Affairs Program includes:
Housing initiatives
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Since 2012, the Wells
Fargo Foundation has provided more than $15 million in grants in
support of sustainable housing programs, such as VeteranWINS and the
Team Member Volunteer Program.
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NeighborhoodLIFT
helps eligible service members and veterans receive a home down
payment assistance grant.
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Wells Fargo donates mortgage-free homes and sponsors payment-free
vehicles for combat-wounded veterans in collaboration with the Military
Warriors Support Foundation.
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Wells Fargo provides financing
options, dedicated service and financial education to help
military members and veterans achieve homeownership. Several times a
year, the company offers free financial education webinars for
military families on home financing, budgeting and saving, and credit.
Career transition
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Wells Fargo offers active guard and reserves supplemental pay designed
to make up the difference between their Wells Fargo pay and military
base pay; medical, dental, vision, and long-term care coverage; and
pay for work missed due to weekend drill and annual training.
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For those transitioning from military service, Wells Fargo offers Military
Apprenticeships, Veteran Employment Transition internship program, American
Corporate Partners mentorships, and scholarships and emergency
grants through Scholarship
America.
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CEO and President Tim Sloan signed the Employer
Support of the Guard and Reserve statement of Support in August
2018.
Financial education
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In support of the Sharpen (News - Alert) Your Financial Focus (Sharpen) initiative, National
Foundation for Credit Counseling received a $1 million
commitment from Wells Fargo in 2018 for financial counseling and
education services for active military service members, veterans and
their families. Since the 2013 launch of Sharpen, Wells Fargo has
contributed a total of $5.5 million to the foundation in support of
these services.
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Wells Fargo collaborated with nonprofit Guideposts
to provide 895,000 copies of "Financial Readiness: Sound Principles
for Successful Money Management" to military service members since
2014.
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Wells Fargo's Hands
on Banking® for Military - the company's online
financial education program - is available online at www.handsonbanking.org,
in print through Guideposts
Financial Readiness and Building Wealth booklets, and personal
one-on-one and group sessions through National Foundation for Credit
Counseling's Sharpen
Your Financial Focus program.
According to the 2018 Military Spouse and Family Survey, Pioneer
Services and AmeriForce Media, one in three military spouses say they
are not prepared to meet a financial emergency, and 82 percent state a
financial emergency is a chief concern.
"Sound financial management is essential for our military service
members and veterans," added Quinn. "Wells Fargo takes a lot of pride in
financially empowering them and their families through Hands on
Banking for Military and other programs."
More information about Wells Fargo's commitment to military service
members, veterans and their families is available at www.wellsfargo.com/military.
About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo's
vision is to satisfy our customers' financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,950
locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile
banking, and has offices in 37 countries and territories to support
customers who conduct business in the global economy. With approximately
262,000 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. News, insights and
perspectives from Wells Fargo are also available at Wells
Fargo Stories.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181108005195/en/
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