ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Wells Fargo announced the company donated nearly $9 million through 201 grants to local nonprofits, schools and community organizations in 2018 to help the communities and people of New Mexico.
Wells Fargo’s philanthropic contributions build on a long history ofcollaboration with local nonprofits and community leaders to make a positive impact by addressing urgent community issues such as affordable housing, education, small business growth and sustainability.
When combined with the $121,442 donated by 1,400 New Mexico team membersduring the company’s internal Community Support Campaign, nonprofits inthe state received a total of $9.1 million from Wells Fargo and its teammembers in 2018. That amounts to an average daily donation of nearly $24,789.
“Across our community, many residents are working hard to make ends meet,” said David Hockmuth, Wells Fargo region bank president for New Mexico. “Here in New Mexico, we want to help people find a stable placeto live, help small business owners expand, and help young people gain aquality education that prepares them for the workforce. We are determined to help people and communities, especially in underserved areas, succeed financially. We will continue to provide philanthropy, volunteers, expertise and other resources to revitalize and strengthenlocal neighborhoods.”
Beyond philanthropy, Wells Fargo team members in New Mexico volunteered 20,083 hours in 2018 to support nonprofits and causes important to them,including Habitat for Humanity, Albuquerque Public Schools and nonprofits in every corner of the state. These volunteer hours are the equivalent of $495,849, according to the Independent Sector.
“Part of what makes Wells Fargo unique is the generosity of our teammembers who help multiply our community impact,” said Hockmuth. “Sometimes giving time is even more valuable than money, because it putsour desire to build a strong community into action and gives us atangible way to personally make a difference.”
United Way Worldwide recently recognized Wells Fargo for having the No.1 workplace giving campaign in the U.S. for the tenth consecutive year.
Making an impact in New Mexico
Wells Fargo concentrated its local philanthropic contributions onaddressing urgent community issues such as:
◾ Affordable housing. To help increase affordable, stable housing and homeownership in low- and moderate-income neighborhoods, Wells Fargo made a $4.6 million commitment to boost homeownership in New Mexico through its NeighborhoodLIFT program, providing down paymentassistance grants that helped create more than 400 new homeowners. Wells Fargo also collaborated with grantees such as Greater Albuquerque Habitat for Humanity and Habitat for Humanity of NewMexico to provide homebuyer education, down payment assistance and other affordable housing solutions.
◾ Small business growth. Small businesses are critical to jobcreation and a vibrant community. Many diverse-owned small businesses,especially those in rural and low- to moderate-income communities, face unique challenges and often lack access to the full spectrum ofresources necessary for growth and success. Nonprofits serving small businesses, including WESST, Accion and ABQid, received grants to provide access to capital and training for entrepreneurs in rural and urban markets.
◾ Economic equity and inclusion. Support included grants to nonprofits that directly serve diverse and historically underserved groups, including initiatives focused on the development of women anddiverse talent, education and vocational training and other solutions for communities with limited access to traditional financial services.
◾ Access to education. Support included grants for local K-12schools, scholarships for post-secondary or vocational training and financial education, including grants to such nonprofits as Junior Achievement of New Mexico and the Golden Apple Foundation of NewMexico, and to schools like the University of New Mexico, New Mexico State University and Central New Mexico Community College.
◾ Minimizing the impacts of climate change. The company supportedthe work of nonprofits helping communities become more resilient in the face of a changing climate, including environmental education, resiliency planning, green infrastructure and bringing renewable energy to low-income communities. For example, Wells Fargo partnered with the Nature Conservancy of New Mexico to bring an urban tree-planting program to lower-income neighborhoods.
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 helpthem 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 more than $440million 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 heldthe 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.