Wells Fargo Commits $35 Million in Support of Military Service Members, Veterans; Provides Customers

Wells Fargo Commits $35 Million in Support of Military Service Members, Veterans; Provides Customers an Opportunity to Support Through ATM Donations

November is Military Family Appreciation Month; Veterans Day is November 11


SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company announced today it is committing $35 million over the next three years as part of its ongoing commitment to supporting military service members and veterans. The commitment includes:

  • Real estate owned (REO) property donations and support valued at $30 million to qualifying nonprofits that serve military service members and veterans
  • Hiring and mentoring initiatives,
  • Customized financial education efforts, and
  • Funds for philanthropic donations and sponsorships.

In addition, November 14-30, Wells Fargo is providing its customers an opportunity to make donations through the company's more than 12,000 ATMs in support of military service members and veterans. Donations can be made at Wells Fargo ATMs across the U.S. (with the exception of Kansas, Missouri and Washington, D.C., due to local restrictions) to the USO, National Military Family Association and Homes for our Troops. Customers will not be charged any fees for using the service and 100 percent of the donations will go to the selected nonprofits. Prior to November 14, Wells Fargo is giving customers an opportunity to give to the American Red Cross Disaster Release Fund through its ATMs for relief efforts for those impacted by Hurricane Sandy.

"With this $35 million commitment it is Wells Fargo's goal to have a role in our nation's efforts to support military service members, veterans and their families," said Jon Campbell, head of Wells Fargo Community and Government Relations. "Our mission of helping our customers succeed financially holds especially true for the men and women who serve our country through the military. We are pleased to extend these efforts by also making it easy for customers to support military members by donating at our ATMs."

The $35 million financial commitment is consistent with the three areas of support that Wells Fargo announced in September as its primary focus for supporting military service members and veterans: helping active duty military service members and veterans achieve homeownership, helping veterans transition to civilian careers and providing customized financial education.

Homeownership

REO donations and support already have been an ongoing part of Wells Fargo Home Mortgage support of organizations such as Military Warriors Support Foundation and Operation Homefront. For a story about how these collaborations work, see this Wells Fargo video.

Here's how the REO donation program works: Wells Fargo gives properties to the participating nonprofits. In turn, the nonprofits match the properties to veterans according to home requirements and needs. Wells Fargo is not involved with the selection of individual recipients. All veteran applicants are vetted by the nonprofit organizations based on a number of criteria determined by the nonprofits. Those interested in applying to receive an REO property should apply through the participating nonprofits at www.militarywarriors.org or www.operationhomefront.net.

Nonprofits with a history of providing housing for veterans that are interested in receiving homes from Wells Fargo can send inquiries to: REODonationProgram@wellsfargo.com for more details.

Career Transition

Wells Fargo recently formed alliances with American Corporate Partners (ACP), 100,000 Jobs Mission and Military Spouse Employment Partnership (MSEP) to help mentor and hire veterans and military spouses. Organization details include:

American Corporate Partners (ACP)

American Corporate Partners provides a unique career development opportunity and mentorship program for veterans. The program is open to those who have served on active duty since 2001, including National Guardsmen and Reservists. Those interested can learn more about ACP and where to apply at: www.acp-usa.org.

100,000 Jobs Mission

The 100,000 Jobs Mission is a coalition of 83 companies committed to hiring at least 100,000 veterans by 2020. The coalition has hired more than 28,000 veterans since 2011. To learn more about the 100,000 Jobs Mission or to apply for jobs, please visit: www.100000jobsmission.com; and "Like" us on Facebook: Facebook.com/100000jobsmission.

Military Spouse Employment Partnership Program

Wells Fargo has joined the Military Spouse Employment Partnership program, which allows businesses to work together with the organization to provide jobs to military spouses. Nearly 100 companies have joined alliance with the organization to provide thousands of jobs. To learn more about MSEP, please visit: https://msepjobs.militaryonesource.mil/

Wells Fargo also launched Military Crosswalk software, which helps veterans translate their Military Occupation Codes (MOC) into available job openings within the company ( http://wellsfargo-veterans.jobs/).

Financial Education

Wells Fargo is launching a customized version of its Hands on Banking (www.handsonbanking.org) financial education program. The comprehensive program spans the spectrum from basic banking to wealth creation and will be delivered through online classes, local seminars/events, and on-base training.

Philanthropic Donations and Sponsorships

Wells Fargo is proud to support organizations working to strengthen communities. Through the efforts of enthusiastic team member-volunteers and contributions, Wells Fargo shares its success within its communities by giving back to non-profits and educational institutions that address vital community needs and issues. Organizations can learn more at Wells Fargo's giving and where to apply at: www.wellsfargo.com/about/charitable/

About Wells Fargo & Company

Wells Fargo & Company (NYS: 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. We want to help all of our customers succeed financially and support long-term economic growth and improved quality of life for everyone in our communities. 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.



Media
Wells Fargo & Company
Lisa Westermann, (415) 222-6236
Lisa.b.westermann@wellsfargo.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Wells Fargo Commits $35 Million in Support of Military Service Members, Veterans; Provides Customers an Opportunity to Support Through ATM Donations originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Introduction to Value Investing

Are you the next Warren Buffett?

View Course »

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »

Add a Comment

*0 / 3000 Character Maximum