Wells Fargo Pledges to Help Provide 50 Million Meals to Fight Hunger
July 22 2020 - 09:00AM
Business Wire
Company turns select locations into mobile distribution centers
to help local food banks distribute more food
In select cities around the country this summer, Wells Fargo
& Company (NYSE: WFC) will launch a Drive-Up Food Bank program
to help families who are facing food insecurity during the COVID-19
pandemic. Working with Feeding America®, the largest domestic
hunger-relief organization in the country, and its network of
member food banks, Wells Fargo will turn many of its locations
across the country into mobile food distribution centers with the
goal of providing 50 million meals to individuals and
families.*
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Wells Fargo's Drive-Up Food Bank program
will help families facing food insecurity during the COVID-19
pandemic. (Photo: Business Wire)
“Americans around the country are hurting right now as they try
to make ends meet due to the deep economic impact of COVID-19,”
said Bill Daley, vice chairman of Public Affairs at Wells Fargo.
“One of the biggest challenges in the current environment is
getting food to those who need it most. That’s why Well Fargo is
using the broad reach of our locations, including bank branches and
corporate properties around the country, to help distribute food
and increase accessibility for families facing hunger.”
According to a recent Feeding America analysis, approximately 1
in 6 people may experience food insecurity in 2020 as a result of
the COVID-19 pandemic, an increase of 46% compared to 2018. In
response to the increased need, the Feeding America network of food
banks distributed 20% more food in March compared to average months
and estimated an average of just under 30% of people being served
are new to charitable food assistance.
The Wells Fargo Drive-Up Food Bank program will run from July
through September and open up the outdoor area of many of its
locations, including bank branches and office buildings to serve as
mobile food distribution centers. Wells Fargo aims to help get more
food to Americans in need, who are often making tough choices
between food, shelter, and other basic necessities. More
information about the Wells Fargo Drive-Up Food Bank program,
including cities that will host mobile food distribution events,
can be found at wellsfargo.com/foodbank.
Supporting local communities
Wells Fargo is deeply committed to addressing critical issues
facing the communities it serves. Since the beginning of the
pandemic, the Wells Fargo Foundation has donated more than $175
million to help address critical community needs such as food
assistance, financial health, small business, and housing stability
in communities across the United States. Most recently, the company
launched a new the Open for Business Fund through which it will
donate approximately $400 million in gross processing fees
generated by the Paycheck Protection Program to help small
businesses - particularly racially and ethnically diverse
entrepreneurs - stay open, maintain jobs, and recover long-term.
The company also launched efforts in June to help more than 100,000
renters and homeowners stay in their homes as they grapple with the
financial impact of COVID-19, part of a $1 billion commitment made
by Wells Fargo in 2019 to address the housing crisis over six
years.
*50 million meals calculation is based on 1) Projected number of
meals distributed through Wells Fargo Food Bank Drive-Up events and
2) Wells Fargo’s financial contributions to support Feeding America
food banks 7/20/20-10/31/20. $1 helps provide at least 10 meals
secured by Feeding America on behalf of local member food
banks.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.97 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 7,300 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 31 countries and territories to support customers who
conduct business in the global economy. With approximately 266,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 30 on
Fortune’s 2020 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com |
Twitter: @WellsFargo.
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version on businesswire.com: https://www.businesswire.com/news/home/20200722005242/en/
Holly Rockwood, 415-930-0456 holly.d.rockwood@wellsfargo.com
Catherine Pulley, 202-258-0706
catherine.pulley@wellsfargo.com
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