CSD Learns Awarded $75,000 Grant from Wells Fargo

Foundation to create financial educational resources in American sign language.

REUTERS

Communication Service for the Deaf (CSD) Learns announced that the organization received a $75,000 grant from the Wells Fargo Foundation (No. 9 on the DiversityInc Top 50 Companies list) to create a pilot American Sign Language (ASL) Financial Education Series. Content from Wells Fargo's Hands On Banking online financial learning center, such as Dealing with Debt and Getting Started with Investing, will be provided in ASL on the CSD Learns site.


"Achieving economic independence is a challenge for many in the deaf community," said CSD Chief Executive Officer Christopher Soukup. "This joint effort with Wells Fargo is an innovative, remarkable step forward in bringing high-quality, valuable information to deaf people in ASL and other accessible formats,"

CSD Learns creates innovative, platform-based solutions that overcome barriers and increase learning opportunities for Deaf, DeafBlind, and Hard of Hearing individuals. Through CSD Learns, bilingual online courses are presented in ASL with voice-over and captioning, as well as screen reading compatibility. CSD Learns' courses are self-paced, and include interactive quizzes and assessments for a dynamic and active learning experience.

"Wells Fargo strongly believes that people with disabilities should have the same opportunities to improve their financial health and well-being as anyone else," said Kathy Martinez, head of disability and accessibility strategy at Wells Fargo. "We are proud to collaborate with CSD Learns to make our Hands on Banking program accessible to this community and help them succeed financially."

"About 70 percent of the American Deaf community is either unemployed or underemployed. Research has long demonstrated a significant need for Deaf-specific financial learning tools," said Soukup.  "CSD has listened to diverse Deaf communities share the need for equitable learning resources. Our  goal is to see each and every Deaf individual empowered to educate and enable themselves, including financially. By offering this program on a pilot basis, we can now help strengthen equity for Deaf people in the workplace, and offer tools for self-improvement and autonomous social mobility."

Hands on Banking is a public service offered by Wells Fargo in English and Spanish. The program offers online resources for anyone who wants to learn more about money management. The online learning center can help site visitors find answers to questions, from budgeting tips to buying a home, to responsibly using credit. Hands on Bankingoffers self-directed courses to improve financial capability, as well as offering classroom resources for educators.

For more information about Hands on Banking, visit https://handsonbanking.org/.

Wells Fargo Observes International Day of Family Remittances, Offers Fee Waiver

Company to waive ExpressSend remittance transfer fees to all countries, payout locations June 15–18.

REUTERS

Originally Published by Wells Fargo.

Wells Fargo & Company announced it will commemorate the International Day of Family Remittances by waiving all transfer fees for ExpressSend ® remittances sent June 15–18.

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13 Organizations Awarded $12.1 Million From Wells Fargo to Support Diverse Small Businesses

Funding awarded to local Community Development Financial Institutions.

REUTERS

Originally Published by Wells Fargo.

Wells Fargo & Company announced that 13 Community Development Financial Institutions (CDFIs) around the U.S. have been selected to receive $12.1 million in lending capital and grants under the Wells Fargo Works for Small Business: Diverse Community Capital (DCC) program. The recipients are private, nonprofit financial institutions that are dedicated to delivering responsible, affordable financial products to underserved populations and communities. Many of the small and micro businesses CDFIs serve may not be ready to access capital through conventional financing methods.

The Diverse Community Capital recipients are:

  • BOC Capital Corp. - Brooklyn, N.Y.
  • California Capital Financial Development Corporation – Sacramento, Calif.
  • Cooperative Development Fund of CDS for Shared Capital Cooperative - St. Paul, Minn.
  • Cooperative Fund of New England – serving New England
  • Entrepreneur Fund – Duluth, Minn.
  • First American Capital Corporation – West Allis, Wis.
  • Hartford Community Loan Fund – Hartford, Conn.
  • Local Initiatives Support Corporation – serving Los Angeles
  • Mission Economic Development Agency (MEDA) – San Francisco
  • Mountain BizWorks – Asheville, N.C.
  • New Jersey Community Capital – New Brunswick, N.J.
  • PeopleFund – Austin, Texas
  • Rainier Valley Community Development Fund – Seattle, Wash.

Diverse Community Capital funds will be used by the awardees to increase lending to diverse small business owners; help more diverse small business owners get the coaching and education resources they may need to grow their business; and improve, create or add resources, materials, products, or programs to better serve their target market.

Under the program, awardees also have the opportunity to participate in a social capital component, delivered by Opportunity Finance Network, a national network of CDFIs. Social capital opportunities include an online learning community, working groups on specific topics, consulting, peer learning and mentoring.

"Now in its third year, the DCC program's impact on communities has been compelling," said Connie Smith, Wells Fargo's Diverse Community Capital program manager. "DCC awardees are increasing access to capital and development services for diverse small businesses in their local communities. These awards are inspiring collaboration and innovation in the CDFI industry every day."

In fiscal year 2017, Diverse Community Capital awardees closed more than $284 million in loans to diverse small business clients. That represents a year-over-year increase of 23 percent for the first 18 awardees and a 63 percent increase for the next 26 awardees. Awardees closed nearly $103 million to black or African American entrepreneurs and more than $75 million to Hispanic or Latino entrepreneurs. In addition, 76 of all development services offered by DCC awardees were delivered to diverse small businesses. Most awardees reported at least one new or changed program or product designed to increase capital deployment to their clients.

"When local businesses succeed, so do the communities where we live and work," said Mike Rizer, director of Community Relations at Wells Fargo. "By financing community businesses — including small businesses, microenterprises, and nonprofit organizations — CDFIs spark job growth and retention in communities across the U.S."

Today's announcement marks Diverse Community Capital's fifth installment, or round, of awardees since 2015. Wells Fargo has committed an additional $100 million over the next three years to CDFIs serving diverse small businesses.

To earn back your trust, Wells Fargo has renewed its commitment to you. See our re-established goals at http://www.wellsfargo.com/renew.
We are re-committing to you and re-inventing how we serve you, delivering banking features like Card-Free ATM Access, and Debit Card On or Off for when you misplace your debit card. We have changed our sales policies and culture to fix what went wrong and make things right, knowing an apology is just the beginning.