Wells Fargo Contributes $350,000 for Boston-Area Housing, Revitalization Efforts
Local initiative grants are part of the NeighborhoodLIFT® program effort to boost sustainable homeownership in Boston
BOSTON, January 29, 2019 /3BL Media/– Wells Fargo & Company (NYSE: WFC) today announced a total of $350,000 in donations for two local nonprofits to support homeownership counseling and financial education for aspiring homeowners in the Boston area.
“We are passionate about helping individuals, families and communities achieve their goals,” said Jennifer Crampton of Wells Fargo’s Community Lending and Investment division. “These local initiative grants will help more Boston-area residents who want to achieve homeownership, a goal that aligns perfectly with the NeighborhoodLIFT program. We are excited to work together to make lasting change for the better.”
The Wells Fargo grants are intended to support neighborhood revitalization efforts through the Wells Fargo NeighborhoodLIFT program and funded by the Wells Fargo Foundation.
Wells Fargo NeighborhoodLIFT program local initiative grants will be awarded to the following Boston area nonprofits:
- Massachusetts Affordable Housing Alliance will receive $175,000 to help educate new homebuyers in Greater Boston through homeownership counseling, managing credit and financial fitness help. The alliance will launch a new matched-savings program for first-generation homebuyers to assist in building assets toward homeownership. Alliance programs and services focus on helping low- to moderate-income homebuyers access sustainable homeownership opportunities and build community leadership.
- Roxbury Center for Financial Empowerment will receive $175,000 to provide Homebuyer Readiness workshops and one-on-one coaching for aspiring homebuyers with a focus on credit building, budgeting and personal finance to work toward homeownership, in partnership with the Boston Home Center. The Roxbury Center for Financial Empowerment is part of the Boston’s Mayor’s Office of Financial Empowerment, whose mission is to connect low- to moderate-income residents with financial education and products to help them build assets, improving their financial wellbeing and long-term economic stability.
NeighborhoodLIFT to assist about 275 homeowners in the Boston area
The NeighborhoodLIFT program local initiative grants are part of an effort expanded to the Boston area in June 2018 with a $6.75 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods. The NeighborhoodLIFT program has assisted about 225 homeowners in the area by offering homebuyer education plus $20,000 down payment assistance grants, in collaboration with NeighborWorks® America and its network member, NeighborWorks Southern Mass. About 50 additional homebuyers have reserved a down payment assistance grant and are on the path to become homeowners.
Since 2012, LIFT programs have helped create nearly 20,000 homeowners through 66 program launches in communities across the U.S. A video about the NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Wells Fargo
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 7,800 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 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. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
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