Wells Fargo 2014 Annual Report Download - page 9

Our team members understand
their eorts can add up in big ways,
which is why we say the spirit of our
philanthropy and volunteerism is
summed up best by a “Small is Huge”
mindset that believes no opportunity
is too small to make a dierence in an
individual’s or community’s future.
WellsFargo also strives to be
a responsible corporate citizen.
In2014, WellsFargo contributed
more than $281million, up 2percent
from 2013, to 17,100 community
nonprofits. These organizations help
our neighbors most in need and
contribute to the revitalization and
growth of the economy. I am proud
that of all U.S. companies, we were the
top corporate philanthropist in cash
donations in2012 and ranked second
in2013, according to TheChronicle
ofPhilanthropy (rankings for 2014
will be released later in2015).
We also strive to be responsive to
economic, social, and environmental
challenges. This includes helping
underserved consumers who wish
to enter or re-enter the banking
system. We oer them products and
services such as low-cost checking
and remittance services, secured
credit cards, and loans. Our Hands
on Banking® program provides a
wide array of free, easy-to-access
financial education resources—from
how-to guidance on budgeting and
car buying, to saving and paying for
college, to investing. We now oer
Hands on Banking courses designed
for military members, seniors, small
business owners, and youth. Since
2003, we’ve reached nearly a half-
million people, distributing Hands
on Banking CDs to schools and
organizations all over the world.
Earlier I mentioned the work we
do to help people keep their homes.
We also help low- to moderate-
income households buy homes in
many ways, but I am especially
proud of our LIFT programs. These
programs provide education and
down payment assistance to potential
homebuyers in communities that the
last recession hit hard. Since 2012,
we have committed $230million to
our LIFT programs, helping more
than 8,500 people and families buy
homes in 32 communities. In2014,
we also donated $6million to 54local
nonprofits through the WellsFargo
Housing Foundation Priority Markets
Program, which helps stabilize and
revitalize distressed neighborhoods.
And, as part of our support for those
who serve our country, we have
donated more than 200 mortgage-
free homes to veterans over the past
twoyears.
Additionally, we are making
progress in our environmental eorts
to contribute to a more sustainable
future. Since 2012, WellsFargo has
deployed more than $37billion to
support environmental opportunities,
such as clean technology, renewable
energy, “greener” buildings,
sustainable agriculture, and alternative
transportation. In2014, we expanded
this focus with the WellsFargo
Innovation Incubator(IN2), a five-
year, $10million grant to help fund
startup companies with innovative
environmental technologies.
To learn more about our community
eorts, I invite you to read our
Corporate Social Responsibility
Report at wellsfargo.com under
“AboutWellsFargo.”
Staying grounded, moving ahead
As a company sets its sights on the
future, the right culture is essential.
It keeps its team members connected
to the company’s reason for being.
AtWellsFargo, we strike that balance
by focusing on six strategic priorities
we believe we must master each
day we board the stagecoach. These
priorities receive our attention
because they allow us to devote talent
and resources to eorts focused on
our future, initiatives that we believe
are vital to continuing the success
we’ve enjoyed in the post-financial
crisis era.
Our six day-to-day strategic
priorities are:
• Putting customers first.
Ourbusiness is built around an
unwavering focus on customers.
Our people provide products and
services to meet customer needs
through multiple, convenient ways
that add up to high-quality, caring
relationships and guidance.
• Growing revenue. Revenue is the
grade our customers give us each
day when they reward us with
their business. When we serve
customers well, the money we earn
is the result. We generate revenue
from more than 90 businesses,
which provide diverse sources of
income through economic cycles.
• Managing expenses. We focus on
operating eciently by thoughtfully
managing our resources and
exercising discipline to invest in
the areas that matter most to our
customers and stakeholders. In2014,
our eciency ratio (how much
expense we incur for every dollar of
revenue we earn) was 58.1percent for
the full year, within our target range
of 55 to 59percent, and industry-
leading among our large bank peers.
• Living our vision and values.
We seek to bring our vision and
values to life in all that we do,
demonstrating who we are through
our actions.
• Connecting with communities
and stakeholders. We believe
there’s a connection between our
success and the success of our
key stakeholders—customers,
communities, investors, and team
members. These are relationships
we nurture each day.
• Managing risk. Strong risk
management has been a
cornerstone of our long-term
success, so we continue to invest
significantly in this area.
With these priorities well understood,
we are able to devote additional talents
and resources to four areas that we
believe are critical to WellsFargo’s
future: creating exceptional customer
experiences, digitizing the enterprise,
making diversity and inclusion part
of our DNA, and leading the way in
risk and operational excellence.
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