Giving addresses community issues around affordable housing,
education, small businesses, sustainability
ALBUQUERQUE, N.M.–(BUSINESS WIRE)–Wells Fargo today announced the company donated nearly $9 million
through 201 grants to local nonprofits, schools and community
organizations in 2018 to help the communities and people of New Mexico.
Wells Fargo’s philanthropic contributions build on a long history of
collaboration with local nonprofits and community leaders to make a
positive impact by addressing urgent community issues such as affordable
housing, education, small business growth and sustainability.
When combined with the $121,442 donated by 1,400 New Mexico team members
during the company’s internal Community Support Campaign, nonprofits in
the state received a total of $9.1 million from Wells Fargo and its team
members in 2018. That amounts to an average daily donation of nearly
“Across our community, many residents are working hard to make ends
meet,” said David Hockmuth, Wells Fargo region bank president for New
Mexico. “Here in New Mexico, we want to help people find a stable place
to live, help small business owners expand, and help young people gain a
quality education that prepares them for the workforce. We are
determined to help people and communities, especially in underserved
areas, succeed financially. We will continue to provide philanthropy,
volunteers, expertise and other resources to revitalize and strengthen
Beyond philanthropy, Wells Fargo team members in New Mexico volunteered
20,083 hours in 2018 to support nonprofits and causes important to them,
including Habitat for Humanity, Albuquerque Public Schools and
nonprofits in every corner of the state. These volunteer hours are the
equivalent of $495,849, according to the Independent Sector.
“Part of what makes Wells Fargo unique is the generosity of our team
members who help multiply our community impact,” said Hockmuth.
“Sometimes giving time is even more valuable than money, because it puts
our desire to build a strong community into action and gives us a
tangible way to personally make a difference.”
United Way Worldwide recently recognized Wells Fargo for having the No.
1 workplace giving campaign in the U.S. for the tenth consecutive
Making an impact in New Mexico
Wells Fargo concentrated its local philanthropic contributions on
addressing urgent community issues such as:
Affordable housing. To help increase affordable, stable housing
and homeownership in low- and moderate-income neighborhoods, Wells
Fargo made a $4.6 million commitment to boost homeownership in New
Mexico through its NeighborhoodLIFT program, providing down payment
assistance grants that helped create more than 400 new homeowners.
Wells Fargo also collaborated with grantees such as Greater
Albuquerque Habitat for Humanity and Habitat for Humanity of New
Mexico to provide homebuyer education, down payment assistance and
other affordable housing solutions.
Small business growth. Small businesses are critical to job
creation and a vibrant community. Many diverse-owned small businesses,
especially those in rural and low- to moderate-income communities,
face unique challenges and often lack access to the full spectrum of
resources necessary for growth and success. Nonprofits serving small
businesses, including WESST, Accion and ABQid, received grants to
provide access to capital and training for entrepreneurs in rural and
Economic equity and inclusion. Support included grants to
nonprofits that directly serve diverse and historically underserved
groups, including initiatives focused on the development of women and
diverse talent, education and vocational training and other solutions
for communities with limited access to traditional financial services.
Access to education. Support included grants for local K-12
schools, scholarships for post-secondary or vocational training and
financial education, including grants to such nonprofits as Junior
Achievement of New Mexico and the Golden Apple Foundation of New
Mexico, and to schools like the University of New Mexico, New Mexico
State University and Central New Mexico Community College.
Minimizing the impacts of climate change. The company supported
the work of nonprofits helping communities become more resilient in
the face of a changing climate, including environmental education,
resiliency planning, green infrastructure and bringing renewable
energy to low-income communities. For example, Wells Fargo partnered
with the Nature Conservancy of New Mexico to bring an urban
tree-planting program to lower-income neighborhoods.
About Wells Fargo
Founded in 1852 and headquartered in San Francisco, Wells Fargo &
Company (NYSE:WFC) provides banking, investment and mortgage products
and services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, and the internet (wellsfargo.com).
Wells Fargo’s vision is to satisfy customers’ financial needs and help
them succeed financially. With approximately 259,000 team members, Wells
Fargo serves one in three households in the United States. Wells Fargo &
Company was ranked No. 26 on Fortune’s 2018 rankings of America’s
largest corporations. In 2018, Wells Fargo donated more than $440
million to nearly 11,000 nonprofits in support of affordable housing,
small business growth, financial education, and sustainability, among
other community needs. For 10 consecutive years, Wells Fargo has held
the honor of No. 1 in workplace giving by United Way Worldwide. Wells
Fargo team members also make a difference by donating more than 2
million hours of volunteer time in the last year. News, insights and
more information on the company’s corporate responsibility are available
Mike English, (505) 765-5054