SAN FRANCISCO, May 15 /PRNewswire-FirstCall/ -- Wells Fargo & Company said today it will contribute $60,000 for relief efforts in China.
Wells Fargo Foundation will contribute $50,000 to the Committee of 100, a New York-based Chinese-American organization (committee100.org), for their China Earthquake Relief Fund. The Committee of 100 has chosen the Give2Asia organization (give2asia.org), which supports customized charitable giving throughout Asia, to distribute donations amongst organizations supporting disaster relief in China.
Wells Fargo's San Francisco Bay Area banking region -- a community with a large Chinese-American customer and team member base in China -- has also contributed $10,000 to the Red Cross.
"On behalf of all our team members I want to express our sympathy for the victims and their families of this major earthquake," said Wells Fargo's President and CEO John Stumpf. "We also want to extend our support to our customers, communities and team members with friends and family in China."
In addition to the donations, Wells Fargo -- with its remittance network member bank Agricultural Bank of China (ABC) -- will waive, through June 30, 2008, all remittance transfer fees (normally $8 or $10) for U.S.-based customers sending money using the ExpressSendSM service to friends and family in China impacted by the earthquake
Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."
