Wells Fargo Mobilizes to Help Customers in the Carolinas Impacted by Hurricane Matthew

Wells Fargo Mobile Response Unit team to station in Lumberton, North Carolina.

Wells Fargo & Company (No. 12 on the DiversityInc Top 50 Companies list) announced the company will deploy its Mobile Response Unit to provide housing recovery assistance to customers in North Carolina and South Carolina impacted by the recent flooding caused by Hurricane Matthew.


From Nov. 1-19, the Wells Fargo Mobile Response Unit is located at 2320 W. 5th St., in Lumberton, N.C. Customers may visit from 9 a.m.-7 p.m. weekdays and 9 a.m.-2 p.m. on Saturday. Wells Fargo mortgage customers can also receive disaster assistance at the company's mortgage offices including in Lumberton at 2775 N Elm St., and in Fayetteville at 4924 Morganton Road.

REUTERS

"Our thoughts are with the communities impacted by Hurricane Matthew," said Hugh Rowden, Wells Fargo Government and Community Relations Director, Southeast region. "We are reaching out to our customers living in these communities and opening the doors of our Mobile Response Unit to help them recover as quickly as possible."

Wells Fargo's Mobile Response Unit is a 75-foot, heavy-duty commercial "office on wheels" designed to bring valuable information after a disaster directly to Wells Fargo customers. The Mobile Response Unit has private offices and is equipped with computers, cellular data feed with satellite backup and is powered by self-contained generators. There are specialized team members on board to provide in-person mortgage assistance, insurance claim check processing, and tips to start the repair and recovery process in the event the customer was impacted by the flood.

Wells Fargo Home Mortgage customers experiencing payment challenges will also have the opportunity to meet face-to-face with the company's disaster assistance specialists to explore available options.

The Mobile Response Unit will arrive directly from Baton Rouge after floods damaged thousands of homes in Louisiana. Wells Fargo's deployment of its Mobile Response Unit for the Carolinas follows the company making a $1.1 million donation to support Hurricane Matthew relief and recovery efforts in the U.S. and Haiti. Wells Fargo employs over 54,000 team members in the Carolinas, Georgia, and Florida.

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.

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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.