ALEXANDRIA, Va., Dec. 19, 2017 /PRNewswire-USNewswire/ -- United Way Worldwide today announced an $18 million gift from Wells Fargo & Company (NYSE: WFC) to support United Way's efforts to fight for the health, education and financial stability of every person in every community by helping one million people find jobs that allow them to better support their families and strengthen their communities, within five years.
Jobs are vital cornerstones of healthy families and communities. Unfortunately, across society, too many people – particularly young people – lack the skills and training needed for the jobs of the 21st century. According to a study by McKinsey and Co., approximately 75 million young people are unemployed around the world, and 225 million are underemployed. The lack of adequate education and job training systems is a leading cause.
"United Way fights to ensure that every person in every community has the opportunity to succeed," said Brian Gallagher, President and CEO of United Way Worldwide. "As part of this commitment, we bring together community leaders from across the public, private and non-profit sectors to strengthen education and training programs so that more people can get jobs that improve their quality of life. This generous gift from Wells Fargo will strengthen our ability to build coalitions that help people get good jobs, support their families and strengthen their communities."
To help one million people find sustainable employment, United Way will build on the success of network leaders, such as United Way of Greater Cincinnati, with established job training and employment strategies. Its initiative, Partners for a Competitive Workforce, is a collaboration of more than 150 organizations that have prepared more than 11,000 residents for good jobs in growing industries like health care, advanced manufacturing, and logistics.
"Wells Fargo has made it a priority to help create opportunities for economic equity in underserved communities," said Jon Campbell, head of Corporate Responsibility and Community Relations at Wells Fargo. "United Way has been a tremendous partner for Wells Fargo, and we are proud to support this new initiative to expand access to steady employment which is key to achieving financial self-sufficiency and income mobility."
Since 2009, Wells Fargo has contributed more than $510 million to United Way through grants, campaign support and sponsorship, financial education programs, and international donor advised giving. The company also created a Financial Capability Network in partnership with United Way that has helped more than 30,000 low-income families take important steps toward financial stability. Wells Fargo's annual Community Support Campaign has been United Way's top corporate campaign every year since 2010. More than 100 Wells Fargo team members serve on local United Way Boards of Directors.
About United Way Worldwide United Way fights for the health, education and financial stability of every person in every community. Supported by 2.9 million volunteers, 9.8 million donors worldwide and $4.7 billion raised every year, United Way is the world's largest privately-funded nonprofit. We're engaged in 1,800 communities across more than 40 countries and territories worldwide to create sustainable solutions to the challenges facing our communities. United Way partners include global, national and local businesses, nonprofits, government, civic and faith-based organizations, along with educators, labor leaders, health providers, senior citizens, students and more. For more information about United Way, please visit UnitedWay.org. Follow us on Twitter: @UnitedWay and #LiveUnited.
About Wells Fargo Wells Fargo & Company is a diversified, community-based financial services company with $1.9 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, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. The Chronicle of Philanthropy ranked Wells Fargo No. 3 on its most recent list of the top corporate cash philanthropists. In 2016, Wells Fargo donated $281.3 million to 14,900 nonprofits and Wells Fargo team members volunteered 1.73 million hours with 50,000 nonprofits. Wells Fargo's corporate social responsibility efforts are focused on three priorities: economic empowerment in underserved communities, environmental sustainability, and advancing diversity and social inclusion. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.