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Wells Fargo Makes $8 Million Contribution to Habitat for Humanity’s Neighborhood Revitalization Initiative

Funding will help stabilize communities across the United States

Des Moines, Iowa (June 8, 2010) – Wells Fargo announced today it has made an $8 million contribution to Habitat for Humanity International.

 

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Wells Fargo employees work to complete a Habitat house built in partnership with Habitat for Humanity Riverside in California.

 

Habitat for Humanity will use the funds for its Neighborhood Revitalization Initiative which promotes construction, repair and rehabilitation of affordable housing for low-income families in markets hit hard by foreclosures. Many of the projects will focus on rehabilitating foreclosed and abandoned properties and use green components to make the homes more energy efficient for low-income homebuyers.

“We have steadfastly focused on doing what’s right for our customers and our marketplaces. From the beginning of the housing crisis and recession, we have joined with numerous leaders and organizations to preserve and advance homeownership and help stabilize communities,” said Cara Heiden, co-president of Wells Fargo Home Mortgage. “Consistent with our ongoing commitment to Habitat for Humanity, this funding—coupled with the hundreds of volunteer hours our team members contribute—reflects an increase over prior years’ support to further help Habitat broaden the array of solutions it has to serve families and improve communities.”

“Neighborhood revitalization relies on partnership with other organizations to solve a variety of problems associated with foreclosed and abandoned properties throughout the country,” said Jonathan Reckford, chief executive officer for Habitat for Humanity International. “Working with Wells Fargo, Habitat affiliates and partner families, we can help entire neighborhoods once again become healthy and thriving communities.”

Wells Fargo’s commitment reflects its long-standing relationship with Habitat for Humanity and is part of its Leading the Way Home® program, a national effort focused on preventing foreclosures, stabilizing communities and promoting sustainable homeownership through education.

A portion of the donation also will support Habitat for Humanity’s annual Jimmy and Rosalynn Carter Work Project in October. Volunteers will build, rehabilitate and repair 75 homes in Washington, D.C.; Baltimore and Annapolis, Maryland; Minneapolis and St. Paul, Minnesota; and Birmingham, Alabama. Wells Fargo volunteers will work on houses in Minneapolis, St. Paul and Birmingham as part of the weeklong event.

About Wells Fargo
Wells Fargo Home Mortgage is one of the nation’s leading retail mortgage lenders and services one of every six mortgage loans in the nation. A division of Wells Fargo Bank, N.A., it has a national presence in mortgage stores and banking stores and also serves the home financing needs of customers nationwide through its call centers, Internet presence and third-party production channels.

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet (wellsfargo.com and wachovia.com) across North America and internationally.

About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built, rehabilitated, repaired or improved more than 350,000 houses worldwide, providing simple, decent and affordable shelter for more than 1.75 million people. For more information, or to donate or volunteer, visit www.habitat.org.