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Wells Fargo and Habitat for Humanity to Build 350 Affordable Homes in the U.S.
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Wells Fargo has launched a nationwide initiative to support the construction, renovation, and repair of over 350 affordable homes in collaboration with Habitat for Humanity. The program, named Wells Fargo Builds, includes a funding commitment of $7.75 million to aid local Habitat affiliates across 200 communities in the U.S. The first event took place in Charlotte, N.C., where a $130,000 grant was awarded to build a new Habitat home. Since 2010, Wells Fargo has contributed more than $119 million to support affordable housing initiatives.
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Wells Fargo is investing $7.75 million in affordable housing through the Wells Fargo Builds program.
The initiative will support the construction and renovation of over 350 homes in 200 communities across the U.S.
Since 2010, the company has donated over $119 million to Habitat for Humanity.
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Nationwide initiative to build and repair homes across 200 communities kicks off in Charlotte; employees volunteer with future homeowner
CHARLOTTE, N.C.--(BUSINESS WIRE)--
As homeownership remains out of reach for too many families, Wells Fargo today announced an effort to support new home construction, renovation, and repair of more than 350 affordable homes across the U.S. in collaboration with Habitat for Humanity International. Through the Wells Fargo Builds program, the company is providing $7.75 million in grant funding to help local Habitat for Humanity affiliates increase the supply of affordable homes in 200 communities nationwide.
Wells Fargo teams up with Habitat for Humanity to build 350 affordable homes across the U.S. (Photo: Wells Fargo)
The first Wells Fargo Builds event of 2022 kicked off with a wall-raising ceremony for a new Habitat home for a family of six in the Thomasboro-Hoskins neighborhood of Charlotte, North Carolina. Habitat for Humanity of the Charlotte Region received a $130,000 grant to build the home and to make critical repairs to an older home in the community. Fifteen Wells Fargo employees volunteered alongside the future first-time homeowner, and others will volunteer on various new construction, critical home repair and renovation projects in other communities throughout the year.
“The pandemic highlighted in a new way that a quality and affordable place to call home, especially during times of crisis, is critical to the safety and security of families,” said Mary Mack, CEO of Consumer and Small Business Banking for Wells Fargo and a Habitat for Humanity International board member. “Volunteering with Habitat has always been a huge source of pride for our employees, and we’re excited to put on our hard hats to help families start a new journey in their lives as homeowners.”
Wells Fargo and the Wells Fargo Foundation have donated more than $119 million to Habitat for Humanity International and local affiliates in support of affordable and sustainable housing since 2010, including support for new home construction and repairs, helping older adults age in their homes, and neighborhood revitalization and disaster response efforts. Wells Fargo also supports Habitat’s Cost of Home five-year advocacy campaign through which local Habitat affiliates, partners, volunteers and community members are working together to help 10 million people gain access to an affordable home.
“Habitat for Humanity and Wells Fargo have a shared commitment to creating a world where everyone has a decent place to live,” said Jonathan Reckford, CEO of Habitat for Humanity International. “With the support of Wells Fargo this year, we will be able to help even more families achieve strength, stability, and self-reliance through shelter and create stronger and more resilient communities. We are grateful for their continued partnership.”
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 a 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.
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.
Wells Fargo Builds is an initiative aimed at supporting the construction, renovation, and repair of over 350 affordable homes in partnership with Habitat for Humanity, involving a funding of $7.75 million.
How many communities will benefit from the Wells Fargo Builds program?
The program will support local Habitat for Humanity affiliates in 200 communities across the U.S.
What was the purpose of the grant awarded in Charlotte?
A $130,000 grant was awarded to Habitat for Humanity of the Charlotte Region to build a new home and make critical repairs to an older home in the community.
How much has Wells Fargo donated to Habitat for Humanity since 2010?
Wells Fargo has donated more than $119 million to Habitat for Humanity and local affiliates since 2010.
When did the first Wells Fargo Builds event take place?
The first Wells Fargo Builds event of 2022 kicked off with a wall-raising ceremony in Charlotte, North Carolina.
