Wells Fargo & Company (NYSE: WFC) announced today that its team members donated a record $79 million in 2012, including $60.5 million pledged during the company’s annual Community Support and United Way Campaign. The 2012 total is a 23% increase over 2011 and comes after nine straight years of double-digit increases. More than one of every three of the company’s 265,000 team members made a donation during the 2012 campaign. In 2011, United Way Worldwide named Wells Fargo the nation’s No. 1 Giving Campaign for the third year in a row.
“The results of this year’s campaign are testament to our team members’ deep, personal and ongoing commitment to building strong, stable, and thriving communities,” said Chairman and CEO John Stumpf. “Each year our team members give their time, money, and talent to make a difference in their communities. I am proud of the example they set.”
Wells Fargo encourages team members to donate to any nonprofit, school or religious institution of their choice. One hundred percent of team member donations go to the organizations they choose. Wells Fargo pays all processing costs, and it matches gifts to qualifying schools through the campaign – and year-round – up to $5,000 per team member.
“Wells Fargo has always had a culture focused on finding community solutions,” said Jon Campbell, head of Wells Fargo’s Government and Community Relations team, which oversees the annual campaign. “Our annual campaign is just one example of this. Each day our team members are rolling up their sleeves to help people because they know our communities best. They’re donating to organizations they care about. They’re teaching financial education courses. They’re building houses. They’re helping thousands of organizations make a difference for families and individuals in need.”
In addition to monetary donations, Wells Fargo encourages its team members to volunteer their time for community service, part of the company’s commitment to finding local solutions for local needs. Volunteer work gives team members the opportunity to work directly with the people in their communities, where they can learn first-hand about their specific needs, as well as gain insight into how they can target their donations. During this year’s campaign, team members recorded a total of 232,000 volunteer hours in September, which is nearly double the 122,000 hours recorded in September of last year. In 2011, 52,665 team members reported more than 1.5 million community involvement and volunteer hours, an increase of 10.8% from 2010. Examples of volunteer activities included building Habitat for Humanity homes; assisting at food banks; restoring parks and public land; and delivering financial education to 111,975 individuals and families using Wells Fargo’s Hands on Banking® program.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. In 2011, the Company invested $213.5 million in grants in 19,000 nonprofits, and team members contributed more than 1.5 million volunteer hours around the country. For more information, please visit: www.wellsfargo.com/about/csr.