Wells Fargo Donates $500,000 for Winter Storm Relief in Texas

Rhea-AI Summary

Wells Fargo is donating $500,000 to assist with recovery efforts in Texas following severe winter storms. This donation includes $50,000 to the American Red Cross and $100,000 to Feeding Texas, along with $350,000 directed towards local nonprofits focused on home repairs in low-income areas. President of the Wells Fargo Foundation, Nate Hurst, emphasized the aim to promote community resilience against climate change. Additionally, the bank is offering support to customers and employees affected by the storms, including fee waivers and disaster relief options.

Positive

• Donation of $500,000 to Texas recovery efforts enhances community support.
• Specific allocations include $50,000 to American Red Cross and $100,000 to Feeding Texas.
• Focus on home repairs in low-income communities demonstrates social responsibility.
• Customer support measures include fee waivers and disaster relief options for affected individuals.

Negative

• None.

The devastating effects of several winter storms have left millions of Texans dealing with costly home damages and limited access to food and water. To help aid in relief efforts, the Wells Fargo Foundation is donating $500,000 to help individuals and families recover, including $50,000 to the American Red Cross Disaster Relief and $100,000 to Feeding Texas, a network of 21 food banks in the state. The remaining $350,000 will go to local nonprofits focused on repairing homes, particularly in low- and moderate-income communities, and community resiliency.

Wells Fargo is donating $500,000 to winter storm relief efforts and an inclusive recovery in Texas. (Photo: Wells Fargo)

“The recent winter storms caused a wide path of destruction and emotional distress, and we want our customers, employees and communities we serve across the state to know we are here for them,” said Nate Hurst, president of the Wells Fargo Foundation. “We hope our donation helps local nonprofits expand their work and facilitate an equitable recovery from the severe weather. Importantly, we also wanted some of our funding to help build resiliency for the future so communities can better withstand the impacts of climate change.”

Customer support

Wells Fargo is committed to providing support to customers, clients and employees affected by these storms, including suppressing, waiving, or reversing certain fees, such as late fees. Payment assistance and disaster relief options require that customers contact us. Customers who want to discuss their financial needs should call 800-219-9739. For up-to-date information on branch status, customers can visit our branch locator website.

Additionally, customers may make donations to the American Red Cross* via Wells Fargo Online^® and with Zelle^®** in the Wells Fargo Mobile^® app. Donations will go towards Red Cross Disaster Relief to support disasters big and small, and countless other crises.

Employee care

Wells Fargo is also supporting employees through its We Care Fund, a special program that provides financial grants to employees to cover unforeseen expenses caused by a disaster situation or a financial hardship that is beyond their control.

About Wells Fargo

Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies 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 and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 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.

*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.

**Zelle may be used to send direct donations only to American Red Cross Disaster Relief. Donations to other charitable organizations are not available at this time. Zelle, Wells Fargo, and the American Red Cross are not liable for any failure, through no fault of theirs, to complete your transaction in the correct amount, or for any related losses.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

News Release Category: WF-DAR

View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005985/en/

FAQ

What is Wells Fargo's recent donation for Texas winter storm relief?

Wells Fargo is donating $500,000 to aid recovery efforts in Texas after severe winter storms.

How much is Wells Fargo donating to the American Red Cross?

Wells Fargo is donating $50,000 to the American Red Cross as part of its $500,000 relief effort.

What support is Wells Fargo providing to customers affected by the storms?

Wells Fargo is offering fee waivers and disaster relief options to support customers impacted by the winter storms.

What is the purpose of Wells Fargo's donation to Feeding Texas?

Wells Fargo's $100,000 donation to Feeding Texas supports a network of 21 food banks in the state.

How will Wells Fargo's donation help low-income communities?

The $350,000 portion of Wells Fargo's donation is aimed at local nonprofits focused on home repairs in low-income areas.