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TheStreet Open House

Wells Fargo Military Affairs Celebrates 66 Donated REO Homes, 150 Veteran Recruiting Events And The Launch Of Hands On Banking® For Military

One year after announcing a $35 million, three year commitment to helping veterans, military members and their families with sustainable housing, career transition and financial education, Wells Fargo is proud to announce it has donated 66 Real Estate Owned (REO) properties to wounded warriors, participated in more than 150 military job fairs and launched its Hands on Banking for Military financial education program.

“With the large number of military members transitioning to civilian life over the next few years, we know it’s more important now than ever to make sure that transition is a successful one,” said Jerry Quinn, Wells Fargo Military Affairs program manager. “We are proud of the progress we’ve made towards our commitment, but we know there is still a lot of work to do. We plan to be there every step of the way.”

Affordable Housing

In addition to the REO property donations and support to qualifying nonprofits that serve military service members and veterans, Wells Fargo's Community Lending and Investment group worked with Chinatown Community Development Center and Swords to Plowshares to renovate a historic San Francisco commercial building that now benefits 75 formerly homeless veterans with affordable housing and extensive resident supportive services. Additionally, Wells Fargo recently partnered with the “Beswick” Partnership in Los Angeles to construct a new senior apartment complex consisting of four buildings with 32 housing units for veterans over the age of 62 who are chronically homeless and have disabilities.

Career Transition

Wells Fargo is committed to hiring and retaining military veterans, veterans with disabilities, active military personnel, national guardsman, and reservists. As a result of this commitment, Wells Fargo was ranked No. 7 on the CareerBliss list of Top 20 Happiest Companies for Veterans in 2013. Wells Fargo also launched a four part webinar series to provide our internal team members with the tools and knowledge to successfully recruit and hire veterans. So far in 2013, the company participated in more than 150 job fairs and has hired nearly 1,100 veterans. Wells Fargo has nearly 7,500 self-identified veteran team members, including 169 military services members on military leave. In addition, Wells Fargo mentored 52 veterans through our alliance with American Corporate Partners www.acp-usa.org.

Wells Fargo also has committed its support to help military veteran entrepreneurs by participating in the U.S. Small Business Administration’s (SBA) Veteran Pledge Initiative. Earlier this year, Wells Fargo joined with other SBA lenders in an effort to increase SBA lending to military veteran business owners by 5 percent annually over the next five years. The industry-wide pledge is expected to result in 2,000 more SBA loans for military veteran entrepreneurs who seek financing and are ready to use credit for their business.

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