Wednesday, June 10, 2020
SAN FRANCISCO--(BUSINESS WIRE)--With record numbers of U.S. adults filing for unemployment, and many people facing a lower income amid COVID-19, the Wells Fargo Foundation is supporting national nonprofits in expanding virtual financial coaching services, cost-free, to help the public adapt in these challenging times. These efforts are part of the Wells Foundation’s $175 million commitment to help vulnerable populations navigate through the pandemic, with more than 3,000 grants awarded since March to address public health needs, small business, housing, and financial stability challenges.
“COVID-19 is having an acute impact on millions of people who have lost income and are facing immediate and evolving concerns about their financial security. The situation is changing rapidly and the path for accessing government benefits and other assistance can be confusing and stressful,” said Darlene Goins, head of Financial Health Philanthropy for the Wells Fargo Foundation. “We want all people to know that financial coaches and counselors provided by nonprofit organizations can assist them with applying for public benefits, figuring out which bills to pay first and where to go for help with rent and other household expenses, and start planning for recovery in a manner that respects their personal situation and preserves financial dignity.”
The following nonprofits, with grant support from Wells Fargo, are now offering independent, personalized, and confidential financial coaching and counseling sessions by phone, live chat or video nationwide:
Six ways nonprofit financial coaches can help
Here are a few examples of ways that financial coaches and counselors can help people cope during COVID-19. Individuals and families can reach out to one or more nonprofits to assess whether the assistance offered is right for their specific needs.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.98 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 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.