Wells Fargo Donates $281.3 Million in 2015 to Support Nonprofits
Employees volunteered 1.86 million hours; workplace giving campaign named No. 1 by United Way Worldwide for seventh consecutive year
Wells Fargo & Company (NYSE: WFC) in 2015 helped support and revitalize communities by donating $281.3 million to 16,300 nonprofits across the United States. During the same period, Wells Fargo’s team members supported more than 30,000 nonprofits by donating a total of $98.8 million, an amount that increased for the 13th consecutive year. Wells Fargo employees last year also volunteered more than 1.86 million hours globally, which is the equivalent of one person volunteering 24 hours a day for 213 years.
“Our Culture of CaringSM attitude toward each other, our customers, and our communities is critical to our company’s success,” said Jon Campbell, head of Government and Community Relations. “We’re focused on working thoughtfully with nonprofits and other stakeholders – through financial resources and team member involvement – to help strengthen neighborhoods and improve the social, economic, and environmental fabric of our communities.”
Wells Fargo’s 2015 giving included $117.2 million to nonprofits focused on community development in low- to moderate-income communities, including affordable housing, credit counseling, job training and small business support. Wells Fargo also provided $80.2 million to support schools and educational programs.
Wells Fargo team members’ financial support, volunteerism lifts communities
Of the $98.8 million team members donated to nonprofits, $69.7 million was pledged during the company’s monthlong Community Support Campaign, leading United Way Worldwide to name Wells Fargo’s employee workplace giving campaign No. 1 in the U.S. for the seventh consecutive year.
“We’re grateful to Wells Fargo and its employees for their tremendous generosity and ongoing commitment to improving lives,” said Brian Gallagher, president and CEO, United Way Worldwide. “As important allies, we’re especially thankful to Wells Fargo volunteers who continue to donate their time and talents in service to others. They’re essential in helping to meet the bold, shared goals we have for our communities.”
In 2015, 76,595 Wells Fargo team members reported community involvement and volunteer hours.
- The 1.86 million hours Wells Fargo team members volunteered marks the highest number of hours company employees have ever recorded in a single year, and has a monetary value of nearly $43 million according to the Independent Sector1.
- Volunteers served more than 40,000 nonprofits, participating in activities ranging from planting a “giving garden” to help food pantries in Central Iowa, to refurbishing computers for Winston-Salem, North Carolina students in need, to cleaning up a walking trail in a formerly blighted neighborhood in Modesto, California.
- Team member volunteers delivered financial education to 165,700 people using Wells Fargo’s Hands on Banking® curriculum.
“Our team members volunteer their time with organizations and causes that are meaningful to them and that personal connection shows,” said Campbell. “It’s also a strong complement to the philanthropic support that both our team members and Wells Fargo provide to nonprofits.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Stories and Wells Fargo Blogs.
1 The Independent Sector is a U.S. Coalition of more than 550 philanthropic organizations. They estimate the value of one volunteer hour at $23.07.
