(RED) adds Chase & Wells Fargo to its growing list of financial leaders helping to fight COVID-19

Rhea-AI Summary

(RED) has announced that Chase and Wells Fargo are joining its coalition to combat COVID-19. Cardmembers can now donate their rewards to support relief efforts, with both banks committing $250,000 each to (RED). The initiative aims to enhance access to testing, treatment, and vaccines in impoverished regions, where only 10% of individuals have received a vaccine. This partnership expands (RED)'s efforts, which have raised nearly $700 million to support global health systems, benefiting over 245 million people worldwide.

Positive

• Chase and Wells Fargo are donating $250,000 each to (RED) for COVID-19 relief.
• Customers can redeem rewards for donations, enhancing community involvement.
• Expands (RED)'s coalition, enhancing overall fundraising potential for COVID-19 response.

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• None.

NEW YORK, Feb. 17, 2022 /PRNewswire/ -- As COVID-19 continues to ravage the planet, (RED), the organization co-founded by Bono and Bobby Shriver to fight pandemics, is adding Chase and Wells Fargo to help with efforts supporting urgent and equitable access to COVID-19 relief in response to the ongoing and devastating impact of the virus in the world's poorest countries.

Chase cardmembers with Ultimate Rewards®, as well as Wells Fargo Rewards® customers can now (RED)EEM points and rewards towards a donation to help fight COVID-19. These points and rewards can be donated with PayPal's Pay with Rewards feature to help save lives. In addition, Chase and Wells Fargo will each donate $250,000 to (RED)'s efforts to provide global COVID-19 relief.

"The Omicron variant should serve as a global wake-up call that we won't end COVID anywhere unless we end it everywhere. That's why we're bringing the largest financial institutions together to fight COVID and save lives," said Jennifer Lotito, President and COO of (RED). "We thank Chase, Wells Fargo and their customers for their commitment to this important fight and for donating points to help to get testing, treatment and vaccines to those who need it most."

"At Chase, we're focused on providing the products and resources that enable people to pursue what matters most in their lives," said Catherine Hogan, President of Chase Branded Cards. "We know that many are passionate about giving back and helping others through this global pandemic, and we're pleased to team up with (RED) and PayPal to give our cardmembers the option to easily redeem their Ultimate Rewards points to make a difference in ongoing COVID-19 relief efforts."

"Wells Fargo has a rich history of giving back and supporting communities near and far. Since the onset of the COVID-19 crisis, we've provided important financial assistance to our customers, employees, and communities, and we're pleased to join arms with (RED) and leverage PayPal's Pay with Rewards feature to further our relief efforts," said Krista Phillips, EVP, Head of Branded Cards and Marketing for Wells Fargo. "By partnering with (RED), we're providing customers a simple way to effectively donate their Wells Fargo Rewards and give back in the way of their choosing, while supporting global COVID relief efforts."

With today's announcement, Chase and Wells Fargo are the newest additions to (RED)'s coalition of financial institutions, including long-standing partner Bank of America, along with American Express®, Citi and PayPal, that are helping raise money to support stronger global health systems through entities like the Global Fund COVID-19 Response Mechanism and the Gavi COVAX Advance Market Commitment (AMC). 

So far, only roughly 10 percent of people in the world's poorest countries have received at least one COVID-19 vaccine dose.

About (RED)
(RED), named for the color of emergency, was founded by Bono and Bobby Shriver in 2006 to turn companies into a cavalry to fight the AIDS pandemic. Today, that cavalry is also fighting the urgent threat of COVID and its devastating impact on the world's most vulnerable communities, answering the need for a truly global response.

(RED) partners with the most iconic brands and people to create (RED) products and experiences — all of which raise money for the Global Fund, one of the world's largest funders of global health. 

To date, (RED) has generated nearly $700 million for the Global Fund, helping more than 245 million people. The money raised by (RED)'s partners and campaigns goes directly to strengthen health systems and support life-saving programs in the communities where pandemics hit hardest.

ABOUT Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.7 trillion and operations worldwide. Chase serves more than 60 million American households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: Nearly 4,800 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune's 2021 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo

CONTACT: press@red.org

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SOURCE (RED)

FAQ

What is (RED)'s new partnership with Chase and Wells Fargo?

(RED) has partnered with Chase and Wells Fargo to support COVID-19 relief efforts, allowing customers to donate rewards and contributing $250,000 each.

How can Chase and Wells Fargo customers contribute to (RED)?

Customers with Chase Ultimate Rewards and Wells Fargo Rewards can donate their points to (RED) using PayPal's Pay with Rewards feature.

What percentage of the world's poorest countries have received a COVID-19 vaccine?

Only about 10% of people in the world's poorest countries have received at least one COVID-19 vaccine dose.

What is the total amount raised by (RED) for global health efforts?

(RED) has raised nearly $700 million to support global health systems, aiding over 245 million people globally.

When was the announcement made regarding Chase and Wells Fargo's involvement with (RED)?

The announcement was made on February 17, 2022.