Wells Fargo Donates $200,000 for New Mexico Housing, Education and Small Business Efforts
October 17 2018 - 1:30PM
Business Wire
New Mexico NeighborhoodLIFT® program awards local initiative
grants to three nonprofits
Wells Fargo & Company (NYSE: WFC) today announced
$200,000 in donations to three local nonprofits to support housing,
education and small business programs for New Mexico residents.
“It’s always a great day when we see positive and lasting change
taking place,” said David Hockmuth, New Mexico region bank
president. “The meaningful work being done by these nonprofits will
improve lives and strengthen communities, and that is what we all
want. Together, we are committed to making progress.”
The Wells Fargo grants are intended to support neighborhood
revitalization efforts through the Wells Fargo
NeighborhoodLIFT® program funded by the Wells Fargo
Foundation.
The NeighborhoodLIFT program local initiative grants will be
awarded to the following New Mexico nonprofits:
- Fathers Building Futures will
receive $75,000 to provide fathers with strong financial oversight,
woodshop training, a financial training program and help with
setting up Individual Development Accounts through a partnership
with Prosperity Works and Women’s Economic Self-Sufficiency Team
Corp (WESST).
- Saranam will receive $50,000 to
assist families experiencing homelessness with safe, stable, and
fully furnished transitional housing and a small stipend for up to
two years so they can concentrate on breaking down barriers through
education, heal from abuse, interact with positive role models, and
find hope and opportunity for their future. Saranam takes a
two-generational approach that meets the needs of children and
parents together to enable families to build education, economic
assets, social capital, health and well-being, for one generation
and passes to the next.
- Women’s Economic Self-Sufficiency
Team Corp (WESST) will receive $75,000 to provide start-up and
existing entrepreneurs in New Mexico with high-quality training,
one-on-one consultations, access to capital and business incubation
services for small businesses in New Mexico. This work with small
businesses will concentrate on business finances, marketing and
management. The project will incorporate several WESST initiatives
as a means to facilitate business start-up and growth. Over the
one-year project period, goals include to provide 500 business
consultations; 750 training participants; 25 business startups; and
create 25 new jobs.
More than 400 homeowners created in New Mexico
The New Mexico NeighborhoodLIFT program local initiative grants
are part of a $4.6 million commitment by Wells Fargo to boost local
homeownership and revitalize neighborhoods in New Mexico. LIFT
programs have assisted 430 New Mexico homeowners by offering
homebuyer education plus down payment assistance grants. The 2018
New Mexico NeighborhoodLIFT program is a collaboration with
NeighborWorks® America and its network member, Homewise.
Since February 2012, LIFT programs have helped create more than
18,600 homeowners in 63 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,950 locations, 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 37
countries and territories to support customers who conduct business
in the global economy. With approximately 262,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 26 on Fortune’s 2018
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells Fargo
Stories.
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version on businesswire.com: https://www.businesswire.com/news/home/20181017005023/en/
MediaMichael English,
505-318-8156Michael.English@wellsfargo.com@MikeEnglishWF
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