The Wells Fargo Foundation will distribute $175 million in donations to help address food, shelter, small business and housing stability, as well as to provide help to public health organizations.
Donations from the Wells Fargo Foundation will be allocated via expedited grant-making at the local level and also via relief efforts in partnership with national organizations that work in a number of key areas across the U.S. Resources will be focused on helping nonprofits serve the immediate needs of the most vulnerable populations including for food, housing and other emergency needs. This includes a $1 million grant to Feeding America to support their 200 member foodbanks as they work to feed people during this time of crisis.
The Wells Fargo Foundation will also support the creation of the Coronavirus Pandemic Financial Resilience Resource Center to help the 100 million people with disabilities and chronic health conditions nationwide with alternative and accessible information and financial counseling, 24 hours a day, seven days a week.
Wells Fargo has suspended residential property foreclosure sales, evictions and involuntary auto repossessions. Additionally, the company is offering fee waivers, payment deferrals and other expanded assistance for credit card, auto, mortgage, small business and personal lending customers who contact the company.
In an effort to assist employees who may experience their own hardships, the Wells Fargo Foundation will donate $10 million to its WE Care Fund, which provides resources to colleagues who face a catastrophic disaster or financial hardship resulting from an event beyond their control. This program is available to those affected by coronavirus and is intended to help employees, especially those with limited resources, get back on their feet with basic necessities.