Market Overview

Wells Fargo to Double Investment in Chicago's Austin Neighborhood

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Additional $300,000 earmarked for West Side neighborhood
transformation

Wells Fargo (NYSE:WFC) announced today that the bank will double its
investment in the United Way of Metro Chicago Neighborhood
Network Initiative
in the Austin neighborhood, bringing the bank's
total commitment to $600,000 by 2020. Since 2015, Wells Fargo has
invested $100,000 each year to the program and will contribute that same
amount annually for the next three years

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180904005714/en/

Monica Cole, North Region head for Wells Fargo Middle Market Banking, presents a $300,000 ceremonial ...

Monica Cole, North Region head for Wells Fargo Middle Market Banking, presents a $300,000 ceremonial check to United Way of Metro Chicago's Joanna Bossi, director of Corporate Partnerships, and Ashley Nicoson, corporate liaison, after announcing that the bank has doubled its commitment to organization's Neighborhood Initiative for the next three years. Wells Fargo's contribution targeting Chicago's Austin neighborhood totals $600,000. (Photo: Business Wire)

The announcement was made early today at the bank's South Wacker Drive
regional hub where more than 100 local Wells Fargo volunteers assembled
450 literacy kits filled with craft activities to support vocabulary
development for Austin-area children served by Austin
Childcare Providers Network
and New
Moms
.

"For many years, Wells Fargo and United Way have joined to transform
lives locally and nationally through our workplace giving campaign and
partnerships like these built on trust and impact," said Monica Cole,
North Region head of Middle Market Banking for Wells Fargo. "Doubling
our commitment to the Austin Neighborhood Network allows Wells Fargo to
continue to focus our community investments and volunteer hours on the
community for three more years."

"The continued Wells Fargo/United Way of Metro Chicago partnership is an
integral part of achieving lasting change in the community of Austin,"
said Jose Rico, senior vice president of Community Investment at United
Way of Metro Chicago. "Through this partnership, we're able to
sustainably support the network's goals of improving educational
outcomes and increasing economic stability for Austin residents."

Through its Neighborhood Network Initiative, United Way of Metro Chicago
works with a lead partner and local nonprofits to identify challenges in
the areas of education, income, and health, and then builds on the
strengths of existing community services with additional resources.
United Way leverages financial investments, staff expertise, and
cross-sector partnerships to coordinate services and measure progress
toward goals set by each neighborhood, such as increasing high school
graduation rates, reducing chronic disease, and addressing trauma from
community violence. There are 10 United Way Neighborhood Network
coalitions across the city and suburbs.

Along with its continued support of United Way, Wells Fargo earlier this
year reinforced its commitment to community
investments
that support economic growth, resiliency, and
sustainability. The bank pledged $400 million — or more than $1 million
a day — to nonprofits in 2018. The company also recently announced that
it will provide $200 billion in financing
to sustainable businesses and projects by 2030.

In August, Wells Fargo committed $8 million in down payment assistance
grants through its NeighborhoodLIFT®
program to boost homeownership in Cook County. Also in 2017:

  • The banks' nearly 5,000 local employees donated $1.5 million and
    volunteered more than 25,000 hours in communities statewide
  • Wells Fargo donated nearly more than $4 million to Illinois nonprofits
    and schools that same year, including more than $1.5 million for
    community development, financial literacy, housing, and small business
    projects
  • Wells Fargo donated more than 10,000 new winter coats to Chicago
    Public School children

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
.

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