Wells Fargo addresses local housing challenges
By Brian Lee, San Diego Region Bank President
Helping people succeed financially and build better lives is Wells Fargo’s greatest priority. Giving back to the community is ingrained in the company’s corporate citizenship goals and values and continues to be the culture of countless team members who devote their time and energy to causes that are truly important to them.
One of the most pressing issues facing communities today is housing affordability. According to the Joint Center for Housing Studies at Harvard University, nearly one-third of U.S. households spend more than 30% of their income on housing – and too many people have no homes at all. This is especially alarming for states like California, where rising rents and home prices are forcing many people to leave the communities they have always called home. Wells Fargo recognizes that having a safe and stable place to live is critical for individual success and thriving communities. The company is proud to join community partners like San Diego Habitat for Humanity (SDHFH) to help understand this issue fully and unlock more housing options for those in need.
Since 2001, Wells Fargo has supported SDHFH’s mission of creating affordable home-ownership. Through this partnership, Wells Fargo team members have contributed more than 3,130 volunteer hours since 2011 and have helped complete 66 homes for families throughout San Diego County.
It is because of partnerships like this that Wells Fargo continues to make a strong local impact in the communities it serves, both through volunteerism and philanthropy. Wells Fargo also recently announced a $1 billion commitment in philanthropy through 2025 to address challenges of the housing crisis including homelessness, available and affordable rentals, transitional housing and home ownership. The announcement is part of the company’s newly evolved philanthropic strategy, which will focus on addressing housing affordability, the need to increase financial health, and access to capital for small business growth.
There is nothing more rewarding than knowing you are making a difference in people’s lives. Building a community is the work of many, and Wells Fargo is proud to collaborate to continue in this great work and help make San Diego a great place to call home.