Wells Fargo said this week that it’s donating $25 million as part of its corporate philanthropy to support programs and nonprofits focused on increasing Latino homeownership.
The San Francisco bank (NYSE: WFC) — which is the second-largest bank operating in the Phoenix metro — is working with UnidosUS, a nonprofit civil rights organization that recently launched Home Ownership Means Equity or HOME. The new program, which will help participants navigate the home-buying process, seeks to create 4 million new Latino homeowners by 2030.
The HOME program’s initial focus is on several cities with large Latino populations, including Phoenix; Stockton, California; Chicago; Orlando; and Houston. The program is expected to eventually expand to other states and cities.