Wells Fargo Announces Aid for Customers and Communities Impacted by COVID-19 - Seite 2

Accelerated national and local giving

Donations from the Wells Fargo Foundation will be allocated via expedited grant-making at the local level and also via relief efforts in partnership with national organizations that work in a number of key areas across the U.S. Resources will be focused on helping nonprofits serve the immediate needs of the most vulnerable populations including for food, housing and other emergency needs. This includes a $1 million grant to Feeding America to support their 200 member foodbanks as they work to feed people during this time of crisis.

Charitable donations will also be focused on three key areas through collaboration with a number of national and local organizations - housing, small business and financial health:

• Housing stability: Funding will be allocated to critical housing needs such as helping renters and homeowners stay in their homes through foreclosure prevention assistance, eviction assistance and financial counseling and coaching.

• Small business: Resources will be deployed to meet the urgent needs of small businesses, $2 million of which will focus on the deployment of flexible capital in collaboration with Opportunity Fund and will also provide immediate cash boosts and financial coaching support of entrepreneurs and their low-wage workers in coordination with SaverLife.

• Financial health: Donations will support efforts to ensure ongoing financial health for families and individuals including for financial counseling and coaching and through grants to help struggling hourly, part-time, lower-income and gig economy workers navigate broad financial stability challenges due to loss of income.

The Wells Fargo Foundation will also support the creation of the Coronavirus Pandemic Financial Resilience Resource Center to help the 100 million people with disabilities and chronic health conditions nationwide with alternative and accessible information and financial counseling, 24 hours a day, seven days a week.

Supporting employees experiencing hardship

In an effort to assist employees who may experience their own hardships, the Wells Fargo Foundation will donate $10 million to its WE Care Fund, which provides resources to colleagues who face a catastrophic disaster or financial hardship resulting from an event beyond their control. This program is available to those affected by coronavirus and is intended to help employees, especially those with limited resources, get back on their feet with basic necessities.