Wells Fargo has announced that it has made an $8 million contribution to Habitat for Humanity International. Habitat for Humanity will use the funds for its Neighborhood Revitalization Initiative which constructs, repairs and rehabilitates affordable housing for low-income families in markets hit hard by foreclosures. Many of the projects will focus on rehabilitating foreclosed and abandoned properties and use green components to make the homes more energy efficient for low-income homebuyers.
"We have steadfastly focused on doing what's right for our customers and our marketplaces. From the beginning of the housing crisis and recession, we have joined with numerous leaders and organizations to preserve and advance homeownership and help stabilize communities," said Cara Heiden, co-president of Wells Fargo Home Mortgage. "Consistent with our ongoing commitment to Habitat for Humanity, this funding -- coupled with the hundreds of volunteer hours our team members contribute -- reflects an increase over prior years' support to further help Habitat broaden the array of solutions it has to serve families and improve communities."
"Neighborhood revitalization relies on partnership with other organizations to solve a variety of problems associated with foreclosed and abandoned properties throughout the country," said Jonathan Rockford, chief executive officer for Habitat for Humanity International. "Working with Wells Fargo, Habitat affiliates and partner families, we can help entire neighborhoods once again become healthy and thriving communities."
Wells Fargo's commitment reflects its long-standing relationship with Habitat for Humanity and is part of its Leading the Way Home program, a national effort focused on preventing foreclosures, stabilizing communities and promoting sustainable homeownership through education.
A portion of the donation also will support the Habitat for Humanity's annual Jimmy and Rosalynn Carter Work Project in October. Volunteers will build, rehabilitate and repair 75 homes in Washington, D.C.; Baltimore and Annapolis, Md.; Minneapolis and St. Paul, Minn.; and Birmingham, Ala. Wells Fargo volunteers will work on houses in Minneapolis, St. Paul and Birmingham as part of the week-long event.
For more information, visit www.wellsfargo.com or www.habitat.org.