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MarketScreener Homepage  >  Equities  >  Nyse  >  Wells Fargo & Company    WFC

WELLS FARGO & COMPANY

(WFC)
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Wells Fargo : Helped to Provide 55.7 Million Meals to Families in Need

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01/22/2019 | 02:56pm EDT

Donations from the annual Holiday Food Bank program support 150,000 meals a day for a full year

The Wells Fargo Holiday Food Bank program secured enough food during the 2018 holiday season to help provide 55.7 million meals* to families in need around the U.S.

Through the support of customers, team members and community members, the Holiday Food Bank secured food contributions, monetary donations and volunteer time for the Feeding America® network of food banks around the U.S., with the following impact:

  • 55.7 million meals – enough to provide more than 150,000 meals a day for a year.
  • 9,400 boxes of nonperishable food – a 20 percent increase from last year’s program.
  • 9,083 team member volunteer hours – a 25 percent increase from 2017.

“Food banks and food pantries are critical emergency resources for millions, and our customers and the broader community went above and beyond to participate in our Holiday Food Bank program,” said Jon Campbell, head of the Wells Fargo Foundation. “Their generosity is incredibly inspiring, and it underscores the remarkable impact that is possible when people work together. Thank you to everyone who donated, to team members who volunteered with distribution, and to local Feeding America member food banks for their efforts in making the season a little brighter for those in need.”

Wells Fargo launched the effort on Nov. 13, 2018, with a $4 million donation to Feeding America, the largest domestic hunger-relief organization in the U.S. Wells Fargo’s 5,700 branches nationwide doubled as food banks from the program’s kick-off through the end of 2018, accepting donations of nonperishable food and money for their respective local Feeding America member food banks.

Wells Fargo also offered opportunities for participants to donate through a mobile food bank — which popped up in nine cities from California to New York. In response to customer requests, the company also enabled monetary contributions to Feeding America through its ATMs and website.

In addition, nearly 2,300 Wells Fargo team members volunteered more than 9,000 hours with hunger-related nonprofit organizations over the holidays.

“One in eight Americans struggle to put food on their tables,” said Andy Wilson, chief development officer at Feeding America. “Hunger impacts every single county in the United States. Efforts like the Wells Fargo Holiday Food Bank program shine a light on this very important issue, while providing everyone with the opportunity to help their neighbors in need. Feeding America is grateful to Wells Fargo for helping us get closer to a hunger-free America.”

The Wells Fargo Holiday Food Bank program is part of Wells Fargo’s year-round philanthropic support of nonprofit organizations and team member volunteerism. Companywide last year, Wells Fargo fulfilled its goal to increase corporate giving to community and nonprofit organizations to more than $400 million, which averages more than $1 million a day. Beginning in 2019, the company will target two percent of its after-tax profits for corporate philanthropy.

*$1 helps provide at least 10 meals secured by Feeding America on behalf of local member food bank.

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 7,800 locations, more than 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 259,000 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.


© Business Wire 2019
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Financials (USD)
Sales 2020 73 938 M - -
Net income 2020 4 590 M - -
Net Debt 2020 - - -
P/E ratio 2020 24,3x
Yield 2020 7,54%
Capitalization 109 B 109 B -
EV / Sales 2019
Capi. / Sales 2020 1,47x
Nbr of Employees 263 000
Free-Float 74,6%
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Charles William Scharf President, Chief Executive Officer & Director
Charles H. Noski Chairman
Scott E. Powell Chief Operating Officer & Senior Executive VP
John Richard Shrewsberry Chief Financial Officer & Senior Executive VP
Saul van Beurden Senior Executive VP & Head-Technology
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