Wells Fargo 2013 Annual Report Download - page 10

Our vision and values set us
apart from our competitors.
Theyform the basis of our culture
and define who we are.
Inaddition, we began testing a new retail bank store
format that is about 1,000 square feet, roughly a third
of the size of a typical new store. In2013, we opened
the first of these stores in the NoMa neighborhood in
Washington,D.C. These stores can be located in smaller
spaces while still providing personalized service and
technologies like wireless devices and large-screen ATMs.
We are evaluating this concept and will determine the
next steps as part of our overall retail bank store strategy.
Living our vision and values
Our vision and values set us apart from our competitors.
They form the basis of our culture and define who we
are. It’s through our vision and values that we operate as
one team. It’s not about I, me, and mine; it’s about we, us,
and ours. We say “teammembers” and not “employees”
because we view our team members as resources to be
invested in, not expenses to be managed. It’s why we train
our leaders to coach and inspire team members and work
together— asOneWellsFargo— toachieveour vision.
Ikeep my 41-page Vision & Values booklet closeby,
and Iknow many of our team members do as well.
Butit’s not the words in the document that are important.
It’s how we embody these words in all that we do—
forfellow team members, customers, communities,
andshareholders.
One core value is our commitment to diversity and
inclusion. We attract and retain diverse team members
and serve a diverse customer base, but we realize there
isalways more that can be done.
As chair of our enterprise Diversity and Inclusion
Council, Iam committed to our company’s eorts to
embrace and promote diversity in all aspects of our
business, at all levels of our company. That is why Iwas
pleased to see seven of our senior-most female leaders
recognized last year byAmerican Banker in its annual
“MostPowerful Women inBanking” issue, and WellsFargo
named byDiversityInc magazine as the top company
for lesbian, gay, bisexual, and transgender employees,
and byEssence magazine as one of the top places to work
for African American women.
We also focus on how we serve diverse markets. Last
year, we formed a Korean division in Wholesale Banking,
announced a goal to lend a cumulative $55billion to
women-owned businesses by the year 2020, and produced
marketing that reflected the people and cultures we serve,
including a TV ad for the Asian market that was honored
by the Association of National Advertisers.
Connecting with communities and stakeholders
Our reputation will continue to be one of our most
important assets, influenced by what we do and how
we connect with our communities and stakeholders.
Weappreciate that public sentiment toward the nation’s
largest financial institutions is still a challenge, and
we continue to work hard to rebuild trust. Across the
industry, mistakes clearly were made leading up to
thefinancial crisis of 2008, as some competitors put
profits before their customers’ interests.
While WellsFargo didn’t do everything right, we did
do many things right. We avoided the risky practices
that hurt other banks during the financial crisis, and we
consistently focused on responsible, traditional banking
practices that customers and communities expect and
rely on. Over the past several years, a number of new
industry reforms and regulations have been put in place
to create a safer and stronger financial services industry,
and we are committed to the spirit and specifics of
theserequirements.
WellsFargo continues to actively support the
revitalization and growth of the economy, including
in our hardest-hit communities. In2013, WellsFargo
contributed $275.5million to 18,500 nonprofits nationwide.
Iwas especially pleased that we ranked at the top of
The Chronicle of Philanthropy’s 2013 ranking of most
philanthropic companies (based on 2012 giving), even
though we are not the largest company (25th on the
Fortune500 list of America’s largest companies).
Team members drive our connection with
communities and stakeholders. In2013 alone, they
contributed a record $89million to schools, charitable
organizations, and other nonprofit groups, up 13percent
from 2012. Team members also volunteered 1.69million
hours in2013— doing everything from helping children
learn to read in local schools to serving food at homeless
shelters— intheir communities, up 13percent from
2012. United Way Worldwide recognized WellsFargo for
having the nation’s No.1 United Way campaign for the
fifth consecutive year, based on 2013 giving.
In2013, we recognized the 20th anniversary of the
WellsFargo Housing Foundation, and we completed the
5,000th home built by team member volunteers— allin
support of aordable housing and community revitalization.
As part of our support to military veterans, we donated
86homes in2013 to wounded warriors.
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