Wells Fargo Foundation housing philanthropy grants will help renters and homeowners stay in their homes
West Sacramento, Calif. — Wells Fargo Foundation granted $400,000 to Rural Community Assistance Corporation (RCAC) to fund tools and training, and to support housing counseling needed to assist renters and homeowners to stay in their homes.
RCAC is among several national nonprofit housing intermediaries that received grants from the Wells Fargo Foundation to support local housing counselors and nonprofit housing providers to create housing stability for more than 100,000 renters and homeowners across the U.S. that are facing financial challenges. Strategies include building housing counselors’ capacity to respond to renters and homeowners, and supporting nonprofit organizations that provide affordable rental homes and services.
As a result of the pandemic, RCAC expects a surge in the demand for housing counseling services that will create both a financial and capacity strain on network agencies’ resources. RCAC’s experienced housing counseling staff is well equipped to implement the response program, which will focus on foreclosure and eviction prevention.
“Wells Fargo Foundation acted swiftly in the face of this crisis to get resources to housing counselors so they can provide much needed support to renters and homeowners who cannot afford to wait for these critical services,” said Suzanne Anarde, RCAC chief executive officer. “We’re grateful for the ongoing support for our rural communities.”
The grant to RCAC is part of the Wells Fargo Foundation’s $175 million commitment to assist people and communities in response to COVID-19. More than 300 grants have already been made since March to help nonprofits provide urgent housing services for vulnerable populations. The Wells Fargo Foundation philanthropy strategy is focused on keeping people in their homes, small business support and financial health in collaboration with national and local organizations.
“During this unprecedented time, too many people are struggling financially and facing housing instability,” said Eileen Fitzgerald, head of housing affordability philanthropy with the Wells Fargo Foundation. “Wells Fargo has a deep commitment to advance housing affordability solutions. We are proud to support the work of RCAC as they serve a vital role in helping renters and homeowners facing financial difficulties.”
In addition to RCAC, other Wells Fargo Foundation COVID-19 Housing Counseling Support grantees include: Enterprise Community Partners, GreenPath, HomeFree-USA, Housing Partnership Network, National Coalition for Asian Pacific American Community Development, National Community Reinvestment Coalition, National Foundation for Credit Counselingâ, National Urban League, Navicore Solutions, NID Housing, NeighborWorks® America, UnidosUS and USA Homeownership Foundation DBA Veterans Association of Real Estate Professionals.
Founded in 1978, RCAC provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions. RCAC serves rural communities in 13 western states and western Pacific islands. Services are available to communities with populations of fewer than 50,000, other nonprofit groups, Tribal organizations, farmworkers, colonias and other specific populations. RCAC staff provides direct services in program areas including affordable housing, environmental services, economic development and lending. About RCAC
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. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Julia Helmreich, director
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