Wells Fargo Team Members Personally Donate Record $41.6 million to Nonprofits

120,000 volunteer hours also donated during annual Community Support and United Way Campaign

SAN FRANCISCO - October 26, 2011

Wells Fargo & Company announced today that its team members donated a record $41.6 million to more than 28,000 nonprofits and schools as part of the company’s annual Community Support and United Way Campaign. All donations were funded personally by team members.

In addition to a 13 percent year-over-year increase in donations, the one-month campaign also resulted in 122,000 volunteer hours contributed by team members to a variety of nonprofits and other causes in local communities across the country.

“With our neighbors across the country suffering during this prolonged economic downturn, the generosity of our team members continues to be a point of pride for Wells Fargo. Year after year, they respond with empathy and leadership by donating their time and money to make a difference in people’s lives,” said John Stumpf, chairman, president and CEO of Wells Fargo. “Our team members’ deep commitment to their communities explains why Wells Fargo, the nation’s 12th largest employer, has been United Way’s No. 1 largest corporate campaign over the past two years.”

“United Way could not make the impact that it does without important, longstanding partners like Wells Fargo. Congratulations for running this year’s top campaign,” said Brian Gallagher, president and CEO of United Way Worldwide. “Wells Fargo and its employees continue to demonstrate their commitment to advancing the common good. Through their tremendous generosity and focus on volunteerism they’re improving lives and strengthening communities throughout the country.”

The annual Community Support and United Way Campaign encourages team members to give in ways that mean the most to them – whether it’s getting out in the community to volunteer for their favorite nonprofit or through financial contributions to any nonprofit, school or religious institution of their choice. One hundred percent of team member donations go to the organizations they choose. Wells Fargo pays all processing costs, and matches gifts up to $5,000 per team member to qualifying schools.

Here are a few examples of volunteer activities during the Campaign:

  • In Charlotte, N.C., 4,700 team members, family and friends set a national record for corporate participation in an American Heart Association fundraising walk, raising more than $375,000 to help the American Heart Association fight heart disease.
  • In the Greater Bay and San Francisco Bay area, 4,500 team members volunteered 13,325 hours on 280 different projects during the month of September, including the San Francisco Public Library and “habitat restoration” on Alcatraz.
  • In the Twin Cities, 1,000 team members volunteered with Feed My Starving Children to prepare and package 91,917 nutritious meals for needy children in countries around the world and raised $22,000 to help pay for the ingredients and shipping expenses.

Wells Fargo team members invest in nonprofits throughout the year. To- date, including the Campaign, team members have donated $63.9 million of their own dollars to nonprofits, a 15 percent increase over 2010, and the ninth straight year of year-over-year double-digit increases in pledge totals.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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. We want to help all of our customers succeed financially and create long-term economic growth and quality of life for everyone in our communities. In 2010, the Company invested a record $219 million in grants in 19,000 nonprofits, and team members contributed more than 1.3 million volunteer hours around the country. For more information, please visit: www.wellsfargo.com/about/csr.

Melissa Murray