New Mexico NeighborhoodLIFT ® program awards local initiative grants to three nonprofits
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced $200,000 in donations
to three local nonprofits to support housing, education and small
business programs for New Mexico residents.
“It’s always a great day when we see positive and lasting change taking
place,” said David Hockmuth, New Mexico region bank president. “The
meaningful work being done by these nonprofits will improve lives and
strengthen communities, and that is what we all want. Together, we are
committed to making progress.”
The Wells Fargo grants are intended to support neighborhood
revitalization efforts through the Wells Fargo NeighborhoodLIFT
®
program funded by the Wells Fargo Foundation.
The NeighborhoodLIFT program local initiative grants will be awarded to
the following New Mexico nonprofits:
-
Fathers Building Futures will receive $75,000 to provide
fathers with strong financial oversight, woodshop training, a
financial training program and help with setting up Individual
Development Accounts through a partnership with Prosperity Works and
Women’s Economic Self-Sufficiency Team Corp (WESST).
-
Saranam will receive $50,000 to assist families experiencing
homelessness with safe, stable, and fully furnished transitional
housing and a small stipend for up to two years so they can
concentrate on breaking down barriers through education, heal from
abuse, interact with positive role models, and find hope and
opportunity for their future. Saranam takes a two-generational
approach that meets the needs of children and parents together to
enable families to build education, economic assets, social capital,
health and well-being, for one generation and passes to the next.
-
Women’s Economic Self-Sufficiency Team Corp (WESST) will
receive $75,000 to provide start-up and existing entrepreneurs in New
Mexico with high-quality training, one-on-one consultations, access to
capital and business incubation services for small businesses in New
Mexico. This work with small businesses will concentrate on business
finances, marketing and management. The project will incorporate
several WESST initiatives as a means to facilitate business start-up
and growth. Over the one-year project period, goals include to provide
500 business consultations; 750 training participants; 25 business
startups; and create 25 new jobs.
More than 400 homeowners created in New Mexico
The New Mexico NeighborhoodLIFT program local initiative grants are part
of a $4.6 million commitment by Wells Fargo to boost local homeownership
and revitalize neighborhoods in New Mexico. LIFT programs have assisted
430 New Mexico homeowners by offering homebuyer education plus down
payment assistance grants. The 2018 New Mexico NeighborhoodLIFT program
is a collaboration with NeighborWorks® America and its
network member, Homewise.
Since February 2012, LIFT programs have helped create more than 18,600
homeowners in 63 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, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,950
locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile
banking, and has offices in 37 countries and territories to support
customers who conduct business in the global economy. With approximately
262,000 team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells
Fargo Stories.