Wells Fargo & Co. announced this week that it invested $315.8 million in 19,500 nonprofits in 2012, a 48 percent increase over the total donations for 2011. The 2012 total includes nearly $77 million in down payment assistance grants made as part of Wells Fargo’s NeighborhoodLIFT SM program. This increase follows four consecutive years of more than $200 million a year in total corporate giving.
“These numbers represent Wells Fargo’s ongoing commitment to providing vital financial resources to the local communities we serve,” said Chairman and CEO John Stumpf in a press release. “Although our economy goes through ups and downs, our longstanding commitment to the communities where our customers live, work, and do business has been a core part of our vision and values since day one.”
Wells Fargo’s corporate giving is guided by the principle of finding local solutions for local needs. Team members living and working in Wells Fargo’s communities direct corporate giving to those organizations and programs considered vital to the communities they call home.
In 2012, Wells Fargo’s community investments included $75.7 million to 8,000 educational programs and schools around the U.S., and $146.4 million in grants to nonprofits focused on community development in distressed communities, including affordable housing, homeownership counseling, financial education, workforce development and job creation.
In addition to corporate giving, in 2012, 57,036 team members reported more than 1.5 million community involvement and volunteer hours, valued at $32.7 3 million. The number of team member volunteers increased by 4,600, an 8.2 percent increase from 2011. Examples of volunteer activities included Habitat for Humanity builds; restoring parks and public land; and delivering financial education to 153,902 individuals and families using Wells Fargo’s Hands on Banking program.
“Year after year, our team members are out in our communities, helping local organizations that are making a difference in the lives of people in need,” said Jon Campbell, head of Government and Community Relations at Wells Fargo. “Whether they’re giving their time and talent, or donating their own financial resources, our team members are setting an amazing example, and they’re making a positive impact in local communities all over the country.”
In 2012, Wells Fargo team members contributed $60.5 million to more than 25,000 nonprofits and schools during Wells Fargo’s annual Community Support and United Way Campaign. Combined with other year-round donations to nonprofits, team members donated a record $79 million, a 23 percent increase over the amount contributed in 2011. Team member donations and volunteer hours are calculated separately and not counted as part of Wells Fargo’s corporate giving program.