Wells Fargo 2015 Annual Report Download - page 9

2015 Annual Report| 
Ruvim realized that the customer
needed the security of a bank
account despite challenges with
his credit history. He worked with
the customer to open an Opportunity
Checking Account, a type of account
we created especially for customers
with credit challenges. Over the
years, the customer has improved
his credit to qualify for a regular
account, a credit card, and later
a home mortgage and a line of credit
for his growing business. He wrote
to tell me, “I attribute much of that
growth to Ruvim's support over the
years… . All I can say is that there is
a true feeling of care at Wells Fargo.”
We also are on our customers’
side when emergencies occur.
For example, after the Memorial Day
2015 floods in the Houston area,
our company donated $275,000
for relief eorts, and our team
members staed a specially
designed mobile response unit
six days a week, up to 10 hours
a day, for customers. That allowed
us to provide cash and mortgage
assistance, insurance claim check
processing, and help in starting
the recovery process. We also
provided grants and services
to support disaster-relief efforts
in other areas affected by
devastating events such as
wildfires in the West and in
Alaska, the earthquake in Nepal,
and flooding in South Carolina.
Earning relationships
with our communities
At Wells Fargo, we earn long-term
relationships with our communities
by creating a positive, lasting
connection. We are a Main Street
bank, and we are committed
to strengthening our communities
through our operations, business
practices, employment opportunities,
philanthropy, and community
engagement.
Our team members volunteer their
time and donate to nonprofits and
causes important to them. In 2015,
Wells Fargo team members volunteered
1.8 million hours and contributed
$98.8 million to nonprofits and schools.
United Way Worldwide has ranked
our workplace-giving campaign the
largest in the U.S. each of the past
seven years.
In addition to the generous donations
from our team members, Wells Fargo
is one of the top corporate cash
donors among U.S. companies.
Over the past five years (2011 – 2015),
Wells Fargo has donated $1.4 billion
to support and revitalize communities,
help charitable organizations, and
grow local economies.
In our communities we particularly
focus on social, economic, and
environmental programs and
activities. Here are some examples:
Social: We are focused on supporting
the varied needs of our global
customer base. One of our most
important commitments as
a company is to support those
in the military who have served
or continue to serve our country.
Since 2012, we have donated
more than $66 million in the form
of assistance to nonprofits, education,
job training, and property, including
more than 300 mortgage-free houses
to wounded veterans and their
families. We employ more than
8,000 self-identified veterans and
are committed to hiring more.
Our long-term community
relationship with the Metropolitan
Economic Development Association
(MEDA) is a terrific example of how
we work with nonprofit partners
to strengthen our communities.
Wells Fargo co-founded MEDA
with other business leaders in
1971 in Minneapolis to support the
development of minority-owned
businesses, break down barriers,
and provide equal economic
opportunities.
Since its start, MEDA has helped
more than 19,000 entrepreneurs
and assisted in the start-up
of nearly 500 businesses.
One of its clients, H&B Elevators,
is a subcontractor for the
construction of our new
Minneapolis office buildings.
H&B Elevators, which is African-
American owned, is providing design
and manufacturing services for the
buildings’ elevator cab interiors.
We are delighted to work with
diverse suppliers such as H&B
Elevators and, in 2015, surpassed our
goal of spending at least 10 percent
of our annual procurement budget
with diverse vendors.
Economic: We are focused
on strengthening individuals’
financial knowledge and
opportunities for underserved
communities. We continue
to provide free financial education
courses to thousands of military
members, seniors, small business
owners, and youth each year
through Hands on Banking®,
now in its 13th year. Homeownership
and access to safe, sustainable
housing continue to be critical
community needs. Our team members
have volunteered more than 4.7 million
hours through the Wells Fargo
Housing Foundation since 1993,
mobilizing to build and rehabilitate
nearly 5,600 homes. We also have
long-term relationships with Habitat
for Humanity aliates across the U.S.
Additionally, our LIFT programs
have helped create more than
10,725 homeowners in 39 communities
since 2012, through more than
$278 million of down payment and
other financial assistance. We’re also
working to create more Hispanic
homebuyers through our support
of the National Association of
Hispanic Real Estate Professionals’
Hispanic Wealth Project. In support
of this project, Wells Fargo Home
Mortgage has a goal of originating
$125 billion in mortgages to our
Hispanic homebuying customers
during the next 10 years by
increasing our presence in diverse
communities, working with referral
sources, and providing products
and programs that support diverse
homeownership.
Environmental: We also work
to accelerate the transition
to a lower-carbon economy