Wells Fargo Foundation awards $7.5 million to Habitat for Humanity to build, repair homes
Nationwide launch aims to help families and older adults live more affordably and retain homes for future generations
DES MOINES, Iowa (May 2, 2023) ―Today, the Wells Fargo Foundation announced a $7.5 million grant to Habitat for Humanity International to help make homes more affordable and accessible for everyone. Through the 2023 Wells Fargo Builds program, the grant funding will enable local Habitat for Humanity affiliates to build and repair more than 360 homes nationwide, including accessibility modifications to meet the needs of low-income older adults and people with disabilities.
The grant was announced in Des Moines, Iowa, as part of a citywide repair event with Greater Des Moines Habitat for Humanity where roughly 130 Wells Fargo and community volunteers completed critical home repairs and updates to help up to a dozen local homeowners. In Iowa and across the U.S., roughly 20% of the population will be 65 or older by 2030. Yet more than 19 million older adults are living in homes that are in disrepair or ill-equipped to meet changing mobility needs around the home, according to Habitat for Humanity International.
As part of the weeklong Wells Fargo Builds project, volunteers installed home modifications such as grab bars and wheelchair ramps for homeowners like Robert, a 66-year-old who needed to make his house more accessible for himself and two adult children who use wheelchairs. Jessi, a social worker with two young kids at home, now has an updated front porch with sturdy new steps and railings. These modifications will help prevent falls during Iowa’s harsh winters and enable the homeowner to maintain the condition of her home, which is often a family’s greatest asset.
“As a company, we’re committed to bringing homeownership to more families so they can pass that legacy on and grow generational wealth,” said Mary Mack, CEO of consumer and small business banking for Wells Fargo and Habitat for Humanity International board member. “We’re proud to join Habitat for Humanity once again to create more quality, affordable and accessible homes through new construction and renovation projects to help families and older adults remain in their homes and communities they love.”
“Safe and accessible housing is a key social determinant of health and helps to improve longevity and overall quality of life,” said Tolli Love, chief development officer at Habitat for Humanity International. “With the support of Wells Fargo this year, we will work together to make a greater impact in communities across the country, including advancing both housing and health equity for older Americans.”
For nearly three decades, Habitat for Humanity International and Wells Fargo have worked together to increase access to affordable homes and homeownership. Since 2010, Wells Fargo and the Wells Fargo Foundation have donated more than $129 million to Habitat for Humanity International and local affiliates, including grant funding for new home construction and repairs, disaster response and rebuilding efforts, and Habitat’s Aging in Place program to enable people to remain in their homes as they age.
About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in south Georgia. Since its founding in 1976, the Christian housing organization has grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.
About Wells Fargo
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider 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 & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 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 or on Twitter: @WellsFargo.