Published November 30, 2017
SAN FRANCISCO – Wells Fargo & Company (NYSE: WFC) today announced a five-year, $50 million commitment to American Indian/Alaska Native communities to help address their unique economic, social and environmental needs. The company will expand philanthropy programs, work to improve products and services to meet the financial and banking requirements of the American Indian/Alaska Native community, and help create a greater awareness of American Indian/Alaska Native culture, history and contributions.
“We are only as successful as the communities in which we work,” said Tim Sloan, Wells Fargo CEO. “Our longstanding relationships with tribal governments and American Indian/Alaska Native customers are a point of tremendous pride at Wells Fargo. I am pleased to be able to make this announcement on behalf of our 268,000 team members as part of Native American Heritage Month.”
The bulk of the financial commitment will be devoted to philanthropy aligned with the concerns raised by consulted tribal stakeholders during the development of the commitment and Wells Fargo’s 2020 Corporate Social Responsibility focus areas.
- Environmental sustainability: renewable energy projects and clean water programs.
- Economic empowerment: down payment assistance and other programs to advance homeownership; affordable housing development; capacity building for Community Development Financial Institutions serving small businesses in Indian Country and asset-building programs that are helping individual tribal members create wealth through matched savings and other mechanisms; customized financial capability curriculum; and post-secondary education programs and scholarships.
- Diversity and social inclusion: leadership and career development training; cultural awareness and language preservation programs.
The $50 million commitment will also fund the expansion of dedicated resources at Wells Fargo for tribal advocacy and community outreach, including the hiring of a business-relationship manager who will focus entirely on the American Indian/Alaska Native market segment. This individual will work closely with Wells Fargo’s National Tribal Advocate, Cora Gaane, and a cross-functional advisory council that will identify and seek to address challenges within American Indian/Alaska Native communities through Wells Fargo’s business and operations, stakeholder and community engagement, policy and philanthropy.