According to a recent MReport, Wells Fargo announced that it is funding $175 million to help keep homeowners in their homes. Due to the COVID-19 pandemic, the bank has donated funds to more than 500 nonprofits who provide services to vulnerable populations. Since March, more than 300 grants have been made to assist urgent housing services. Donations from Wells Fargo are being used to aid small businesses and promote financial health. The Vice Chairman of Public Affairs at Wells Fargo, Bill Daley, stated that Wells Fargo will continue to take steps to support their customers, employees, and communities during the pandemic. Additionally, Daley stated, “These grants for nonprofits across the U.S. will provide a critical safety net to help keep people housed and are part of our philanthropic focus to bring solutions to address housing security, small business stability, and consumer financial health.” The pandemic relief grants are intended to enable nonprofit housing centers, housing counselors, and housing providers to support housing stability. The donations from Wells Fargo will help over 100,000 renters and homeowners.
Eileen Fitzgerald, Head of Housing Affordability Philanthropy with the Wells Fargo Foundation said, “having a safe, healthy, and affordable place to call home is essential to help lay the foundation for wellness, dignity and economic opportunity. In response to the COVID-19 crisis, as far too many people are facing housing instability, these grants will support hundreds of nonprofit professionals and their organizations whose missions are to keep people in their homes and create opportunities to have a home.” Nonprofits receiving relief funding from Wells Fargo include: Enterprise Community Partners, GreenPath Financial Wellness, HomeFree-USA, National Community Reinvestment Coalition, National Foundation for Credit Counseling, NeighborWorks America, and USA Homeownership Foundation DBA Veterans Association of Real Estate Professionals.
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