05/27/2021 | Press release | Distributed by Public on 05/27/2021 05:17
Funds to help nonprofits and small businesses following increased incidents of hate
WASHINGTON--(BUSINESS WIRE)-- Wells Fargo is awarding $1 million in grants to provide support for the Asian American and Pacific Islander (AAPI) community and small businesses in response to the COVID-19 pandemic and the recent increase in anti-Asian hate, discrimination and violence.
The Wells Fargo grants are being awarded to four organizations: the Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), OCA - Asian Pacific American Advocates (OCA), the US Pan Asian American Chamber of Commerce (USPAACC), andAsian Americans Advancing Justice | AAJC. The investment is part of the company's longstanding commitment to the AAPI community and our employees, and in recognition of Asian American and Pacific Islander Heritage Month.
'The $1M commitment was shaped by listening to and learning from our community partners and employees to support ongoing efforts for advancing meaningful and tangible solutions that will make a positive impact in the AAPI communities we serve,' said Kleber Santos, head of Diverse Segments, Representation, and Inclusion. 'Against the backdrop of the disturbing increase of anti-Asian sentiment and violence, this year's Asian American and Pacific Islander Heritage Month takes on additional importance and meaning for us as a company. We will continue to stand in solidarity with the AAPI community and use our voice and resources both locally and nationally to help advance the inclusion and wellbeing of individuals across all our diverse communities.'
The four organizations will use Wells Fargo grant funds, each in varying amounts, to assist the AAPI community and small businesses in a number of ways:
Funds provided for these organizations are in addition to Wells Fargo's ongoing support for the AAPI community focused on financial education, college scholarships, small business support, in-language services and support of local and national Asian-focused non-profit institutions and organizations. Since 2016, Wells Fargo has contributed more than $140 million to nonprofits, educational programs, and schools that serve Asian communities. In addition, since 2019, Wells Fargo has achieved more than $2.6 billion in spending with certified diverse suppliers, with more than $820 million with Asian-owned businesses.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 30 on Fortune's 2020 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. 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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Edna Silva, 213-248-1415
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