Wells Fargo teams up with Habitat for Humanity of the Chesapeake in East Baltimore to repair homes
Volunteers renovate homes in Milton-Montford during Women Build month
WHAT: As part of a nationwide effort to build and repair 350 affordable homes for families, the Wells Fargo Foundation awarded a $30,000 grant to Habitat for Humanity of the Chesapeake to renovate 2 homes in Milton-Montford, East Baltimore. On May 18 and 19, Wells Fargo employees joined Habitat Chesapeake to help install siding and paint interiors on the Habitat homes.
At least one in seven Maryland households spend over half of their income on housing. With the number of Baltimore families struggling to afford their rent and the cost of living increasing, partnerships in support of affordable homeownership are more important than ever. For future Habitat families who will soon call the neighborhood of Milton-Montford in East Baltimore home, Wells Fargo’s participation in the Women Build volunteer effort will bring safe, decent housing with convenient access to Johns Hopkins hospital and downtown Baltimore.
This funding is part of a $7.5M donation to Habitat for Humanity International through the 2023 Wells Fargo Builds program to expand access to affordable homes across the U.S. To date, Wells Fargo and the Wells Fargo Foundation have donated more than $129M to Habitat for Humanity International and local affiliates since 2010, including support for new home construction and repairs and neighborhood revitalization.
Wells Fargo has been an enthusiastic Habitat for Humanity of the Chesapeake supporter for over 15 years. As a 360-degree partner, their support has been on full display through participation and sponsorships of Habitat Chesapeake’s annual specialty builds including Women Build, Pride Build, MLK Day of Service and Summer Build Blitz. Over the years, Wells Fargo has given over $750,000 to Habitat Chesapeake projects and sent hundreds of employees to job sites!
Wells Fargo’s support aligns directly with Habitat’s model of providing a “hand-up, not a hand-out”. Their support enables families and individuals in need of safe, decent, and affordable housing to partner with Habitat Chesapeake to realize their dream of homeownership. Through the program, Habitat homeowners’ partner with Habitat through “sweat equity” which involves working on Habitat build sites or in ReStores. Homebuyers must also complete homeownership and financial education courses in preparation to pay an affordable mortgage capped at thirty-percent of their household income.
WHEN: Thursday, May 18 and Friday, May 19 from 8 a.m. to 2 p.m.
WHERE: 921 Rose Street and 2512 East Eager Street
VISUALS: See photos below. Additional photos available here.
CONTACT: Britt Hayes, Director of Marketing and Communications at Habitat for Humanity of the Chesapeake, (410) 979-9746, britthayes@habitatchesapeake.org
About Habitat for Humanity of the Chesapeake
Habitat for Humanity of the Chesapeake brings people together to build homes, communities, and hope. Since 1982, Habitat for Humanity of the Chesapeake has built more than 780 homes in 19 communities, providing a brighter future for 2,700 children and family members. Homeownership is proven to transform lives – improving health, increasing children’s chances of academic success and offering an opportunity to build wealth across generations. Likewise, homeownership enhances neighborhoods by bringing tangible investment, engaged, long-term residents, rising property values and a sense of community.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider 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. 41 on Fortune’s 2022 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.
