Homer Alaska - Business

Story last updated at 2:01 PM on Wednesday, February 8, 2012

Wells Fargo invests $75,000 in area nonprofits in 2011

By Angelina Skowronski

In 2011, Wells Fargo and its team members invested $75,000 in 35 schools and nonprofit organizations on the Kenai Peninsula, and a total of $1.5 million in more than 300 nonprofits statewide.

The charitable contributions help meet the needs of local communities in the areas of social services, youth and education, arts and culture and economic development, according to a press release from Wells Fargo. Education is Wells Fargo's top funding priority, representing more than 40 percent of statewide community investments, the release said.

In addition, Wells Fargo's 950 team members in Alaska logged 9,000 volunteer hours in 2011 — a dollar value of $195,000. The company's 60 Kenai Peninsula team members volunteered 1,800 hours. During Wells Fargo's annual Community Support Campaign last September, Alaska team members raised a record $523,000 for nonprofits in Alaska — a 30 percent increase over 2010. Kenai Peninsula team members pledged more than $30,000 during the month-long fundraising campaign.

"Well Fargo is pleased to invest in the communities where we live and work to help all Alaskans have an opportunity to succeed," said Richard Strutz, Wells Fargo regional president for Alaska. "We believe if we do what's right for our customers and for Alaska, business results follow. Our success depends on the success of Alaska — as it has for the last 95 years that we've called Alaska home. We're here for Alaskans now, and in the future."

The following Kenai Peninsula organizations received substantial contributions from Wells Fargo in 2011: After the Bell Inc.; Alaska SeaLife Center; Boys and Girls Club of Kenai; Center for Alaskan Coastal Studies; Kenai Peninsula Fair; Kenai Peninsula Food Bank; Kenai River Festival; and the Pratt Museum.

About Wells Fargo

Wells Fargo has 950 team members in Alaska who serve customers through a network of 60 banking, mortgage, insurance and investment offices, 120 ATMs and online.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune's 2011 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.