Wells Fargo (NYSE: WFC) Announces “African American Media Tour”

Wells Fargo & Co (NYSE: WFC) announced that it will launch a series of events in cities across the United States in which Wells Fargo executives will meet with African American journalists at invitation-only luncheons, beginning on National Black Press week in Washington D.C.

Wells Fargo hopes to improve its brand among African Americans by promoting its education and community developments as well as economic initiatives in the cities that they are having luncheons in. For example, Wells Fargo boasts that it contributed $12 million to non-profits in the Mid-Atlantic region, which includes Maryland, Virginia and Washington D.C. Of that $12 million, about $2.6 million of that went to programs specifically serving the African American Mid-Atlantic community.

In 2009, Wells Fargo donated $202 million to 18,000 non-profits in the United States that support education, the arts, human services, community development and environmental issues. The company states that $26 million went to organizations that specifically serve the African American Community.

The company also made $453.9 million in Community Reinvestment Act-qualified community development loans, which were used to develop affordable housing and other economic development initiatives in 2008.

Hill Harper, an actor on CSI New York, will serve as the guest speaker at Wells Fargo’s Washington D.C. luncheon on March 15^th. Harper will talk about the importance of strong financial literacy and financial education in the African American Community. Harper says that he will discuss how financial tools can help the African American Community with wealth building, money management and small business growth.

“Wells Fargo and Wachovia are proud to support worthy education and community development activities for the Mid-Atlantic region’s African American communities,” said Pete Jones, Mid-Atlantic regional president for Wells Fargo. “We know that by building stronger communities, we contribute to the success of local businesses and organizations.”

“As a company, we firmly believe that we can satisfy customers’ financial needs and help them excel only if we also contribute to the long-term economic well-being of the areas we serve,” said Michelle Thornhill, senior vice president and African American segment manager at Wells Fargo.