Wells Fargo Commits $1.5 million to Help Stabilize California’s Hardest Hit Communities

23 nonprofits receive grants to preserve homeownership

SAN FRANCISCO - November 18, 2010

Wells Fargo today announced $1.5 million in grants will be donated across 23 nonprofits based in California as part of an effort to preserve homeownership, increase affordable housing and stabilize some of the state’s hardest-hit communities.

As part of the $1.5 million commitment by the California-based company, Wells Fargo’s Housing Foundation made a $1 million commitment shared across nine nonprofits; and the Wells Fargo Foundation of California made 14 grants totaling $500,000 to increase the availability of affordable housing in local communities facing financial distress.

“Wells Fargo is proud to make this significant commitment, continuing our tradition to grow long-term economic prosperity and quality of life for everyone in our communities,” said Lisa Stevens, Wells Fargo’s California regional president.

Grant recipients were selected from requests submitted by local team members and nonprofits Wells Fargo identified as being in need of extra help with large-scale neighborhood-development projects. The grants are part of the company’s Leading the Way Home® Priority Markets program, a nationwide effort to increase the availability of affordable housing while stabilizing and rebuilding distressed neighborhoods.

“These grants will help people stay in their homes,” said Brenda Wright, Wells Fargo’s California Director of Community Development. “We want to do what we can to make certain resources are available for homeowners in neighborhoods that have felt the effects of financial difficulties and a challenging economy.”

Leading the Way Home ®:
Wells Fargo’s most recent commitment in California is an extension of Wells Fargo’s Leading the Way Home ® effort that includes a focus on home retention in hard-hit communities. Wells Fargo’s next Home Preservation Workshop will be the company’s 16th in Ontario, Calif. on Dec. 8-9. At these events, loan servicing specialists speak with customers confidentially about their financing options and provide modifications, where possible, on the spot. Registration is available until Dec. 6 at www.wfhmevents.com/leadingthewayhome

Priority Markets California Grant Recipients (Wells Fargo Housing Foundation):

  • Coalition for Urban Renewal Excellence: (Fresno)
  • Community Housing Works: (San Diego)
  • County of San Mateo for East Palo Alto Market Stabilization: (East Palo Alto)
  • Habitat for Humanity Stanislaus: (Modesto)
  • Housing Trust of Santa Clara County: (San Jose)
  • Neighborhood Partnership Housing: (Riverside)
  • Neighborworks: (Sacramento)
  • New Economics for Women : (Los Angeles)
  • Visionary Home Builders: (Stockton)

Home Ownership Preservation Grant Recipients (Wells Fargo California Foundation):

  • Family Self-Sufficiency Corps, Inc., a division of Fresno Housing Authority: (Fresno)
  • Community Housing and Shelter Services: (Modesto)
  • East Bay NHS – Save the Dream Program: (Antioch, Martinez, and Pittsburg)
  • Community Housing Development Corporation of North Richmond: (Richmond)
  • Los Angeles Neighborhood Housing Services, Inc.: (Bellflower, Compton, Downey, Gardena, Inglewood, Lynwood, Paramount, and South Gate)
  • Fair Housing Council of San Fernando Valley: (San Fernando Valley/San Bernardino/Ventura counties)
  • Stanislaus Community Assistance Project: (Modesto/Stockton)
  • Catholic Charities of San Joaquin: (Stockton)
  • Consumer Credit Counseling: (Central City, Orange County)
  • Neighborhood Housing Services of Orange County: (East Street, Central Orange County)
  • Consumer Credit Counseling Service of San Francisco: (San Francisco)
  • Northern California Urban Development: (East Palo Alto, East Menlo Park, and Redwood City)
  • Coachella Valley Housing Coalition:(Riverside, San Bernardino, and Imperial)
  • NHS Inland Empire: (Indio and Inland Empire)

Nationwide, Wells Fargo’s Housing Foundation contributed $5 million for housing efforts in 34 cities.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.