Wells Fargo Contributes $190,000 for Affordable Las Vegas Valley Housing

LAS VEGAS – Wells Fargo & Company (NYSE: WFC) today announced a total of $190,000 in donations for three local nonprofits for affordable and transitional housing in Las Vegas.

The Wells Fargo grants are intended to support neighborhood revitalization efforts through the Wells Fargo NeighborhoodLIFT^® program and from the Wells Fargo Housing Foundation.

Wells Fargo NeighborhoodLIFT program local initiative grants will be awarded to the following Las Vegas nonprofits:

• Family Promise of Las Vegas will receive $50,000 to support The Bridge Home, which provides rental assistance for about 50 families committed to gaining employment and finding stable housing to avoid homelessness. The program also will provide financial management classes.
• Rebuilding Together Southern Nevada will receive $50,000 to help low-income seniors maintain their personal independence and safely stay in their homes by making necessary repairs. An additional $40,000 will be awarded through the Wells Fargo Housing Foundation Team Member Volunteer Program that will include Wells Fargo volunteers contributing to make repairs on two affordable homes. Since organizing its first volunteer activity more than 20 years ago, the Team Member Volunteer Program has worked on more than 250 projects with Rebuilding Together.
• United Way of Southern Nevada will receive $50,000 to support the Family and Child Empowerment program, which will focus on stabilizing families that are at risk of homelessness. By reducing evictions through financial support and coaching, the program aims to take families from public housing to homeownership.

Nearly 1,000 homeowners created in Las Vegas Valley

The NeighborhoodLIFT program local initiative grants are part of an initiative expanded to the Las Vegas Valley in March 2017 with a $5 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods. That event followed the successful 2012 NeighborhoodLIFT program that included a $9 million commitment for Las Vegas and North Las Vegas that created 422 homeowners. The two NeighborhoodLIFT program launches combined created more than 970 homeowners in the area by offering homebuyer education plus matching down payment assistance grants.

“Wells Fargo cares about our communities, and we are making these investments to continue efforts to strengthen the Las Vegas Valley,” said Brian Formisano, Nevada Southern Region bank president for Wells Fargo. “Working together, we are committed to strengthening neighborhoods and helping make homeownership more affordable, achievable and sustainable.”

Since February 2012, LIFT programs have helped create more than 17,550 homeowners in 57 communities. A video about the NeighborhoodLIFT program is posted on Wells Fargo Stories.

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, investments, mortgage, and consumer and commercial finance through 8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.