Wells Fargo Donates $250,000 Toward Storm Relief Efforts in Houston

Rhea-AI Summary

Wells Fargo has donated $250,000 to assist with storm relief efforts in Houston. The donation supports the Severe Weather and Derecho Recovery Fund, which aids individuals and families affected by recent severe weather events. The fund will prioritize low-to-moderate-income families in Harris, Montgomery, and Waller counties, focusing on home repair and emergency financial assistance. Wells Fargo is collaborating with the Greater Houston Community Foundation and United Way of Greater Houston. In addition, customer accommodations and employee support measures have been introduced, including fee-free ATM donations to the American Red Cross.

Positive

• Wells Fargo donated $250,000 for storm relief in Houston.
• The donation supports the Severe Weather and Derecho Recovery Fund.
• 75% of funds allocated for home repair and resource navigation.
• 25% of funds for immediate relief through emergency financial assistance.
• Collaboration with Greater Houston Community Foundation and United Way.
• Customer accommodations and employee support measures introduced.
• Fee-free ATM donations to the American Red Cross available.

Negative

• No direct impact on revenue or profitability stated.
• Potential for increased financial burden due to donation and employee support.

NORTHAMPTON, MA / ACCESSWIRE / May 30, 2024 / Wells Fargo:

Customer, employee, and community support available

Wells Fargo is donating $250,000 to support the Severe Weather and Derecho Recovery Fund, which is organized by the Greater Houston Disaster Alliance. The Alliance is a philanthropic partnership established by the Greater Houston Community Foundation and the United Way of Greater Houston to support individuals and families affected by the severe storms, derecho winds, tornados, and flooding events that occurred between April 26 and May 17, 2024.

"Our thoughts remain with the city of Houston and surrounding areas that were severely impacted by the devasting storms over the past month," said Darlene Goins, president of the Wells Fargo Foundation and head of Philanthropy and Community Impact. "When it comes to supporting our communities, we understand there is greater power in collaboration. That's why we are proud to work with local nonprofits like the United Way of Greater Houston and the Greater Houston Community Foundation to provide financial support to help aid in recovery efforts during these incredibly difficult times."

The Severe Weather and Derecho Recovery Fund will serve uninsured and underinsured low-to-moderate income families in the affected counties of Harris, Montgomery, and Waller, focusing on disproportionately impacted zip codes and vulnerable populations.

• 75% of funds will support recovery through home repair and resource navigation.
• 25% of funds will support immediate relief through emergency flexible financial assistance.

"The Greater Houston Disaster Alliance was created to help those severely impacted begin the process of recovery," said Stephen Maislin, president and CEO, Greater Houston Community Foundation. "Having the generous support of Wells Fargo is extremely helpful, and we are grateful to them for prioritizing the recovery efforts of the vulnerable populations in our community."

"To have Wells Fargo's support of the Severe Weather and Derecho Recovery Fund is powerful," said Amanda McMillian, president and CEO, United Way of Greater Houston. "In times of disaster, it takes a collaborative and coordinated response from the nonprofit, for-profit, public sector and philanthropic community to ensure our neighbors get the help they need to start the recovery and rebuilding process."

In addition, Wells Fargo is offering customer accommodations and employee support for those directly impacted by the storm. Wells Fargo customers who wish to support the American Red Cross storm relief efforts may donate through any Wells Fargo ATM in Arkansas, Kansas, Missouri, New Mexico, and Texas beginning May 24 through June 6. There is no fee for ATM donations, and 100% of contributions will be sent to the American Red Cross.

Supporting customers

Wells Fargo is committed to providing support to customers and clients affected by the recent storm in Houston. Customers who want to discuss their financial needs should call 1-800-219-9739.

For support related to commercial accounts, customers can contact their relationship manager or client service officer directly, or call Global Treasury Management Service at 1-800-AT-WELLS (1-800-289-3557).

Caring for employees

The company's We Care Fund was established to aid employees during unexpected financial hardship, including natural disasters. Employees who are impacted by the recent storm should contact their manager or Employee Assistance Consulting to be connected to resources, including the We Care application process.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a leading financial services company that has approximately $1.9 trillion in assets. 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. 47 on Fortune's 2023 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

LinkedIn: https://www.linkedin.com/company/wellsfargo

*The American Red Cross name, emblem, and copyrighted materials are being used with its permission, which in no way constitutes an endorsement, express or implied, of any product, service, company, opinion, or political position. The American Red Cross logo is a registered trademark owned by The American National Red Cross. For more information about the American Red Cross, please visit redcross.org.

Contact Information

Media
Ty Morrison, 713-838-6799
Tymika.Morrison@wellsfargo.com

View additional multimedia and more ESG storytelling from Wells Fargo on 3blmedia.com.

Contact Info:

Spokesperson: Wells Fargo
Website: https://www.3blmedia.com/profiles/wells-fargo
Email: info@3blmedia.com

SOURCE: Wells Fargo

View the original press release on accesswire.com

FAQ

What is the amount Wells Fargo donated for storm relief in Houston?

Wells Fargo donated $250,000.

What will the Severe Weather and Derecho Recovery Fund focus on?

The fund will focus on home repair, resource navigation, and emergency financial assistance.

Which counties will benefit from the Wells Fargo donation?

The counties of Harris, Montgomery, and Waller in Houston will benefit.

How can Wells Fargo customers support the storm relief efforts?

Customers can make fee-free donations to the American Red Cross at any Wells Fargo ATM in Arkansas, Kansas, Missouri, New Mexico, and Texas.

What support is available for Wells Fargo employees affected by the storm?

Impacted employees can contact their manager or Employee Assistance Consulting to access resources, including the We Care Fund.