Our 10-year commitment

Launched in May 2021, the Banking Inclusion Initiative is our 10-year commitment to accelerate the access of unbanked communities to affordable mainstream accounts and have easier access to low-cost banking and financial education. We're also assisting those who are underbanked and underserved, who may have a bank account yet still use high-cost, non-bank services.

We have brought together a broad and diverse group of national and community stakeholders to increase access to digitally-enabled transactional accounts and meaningful financial education. Through this initiative, we've been collaborating with partners to test new options and empower individuals through financial coaching on budgeting and credit.

• Increasing awareness and outreach about low-cost, no overdraft fee accounts, such as our Clear Access Banking^SM option that is designed for those who are new to banking, or have encountered previous challenges opening or maintaining a bank account.
• Broadening our collaboration with the Cities for Financial Empowerment (CFE) Fund and local Bank On coalitions to pilot new strategies and approaches that help overcome barriers to banking access in several markets with high concentrations of unbanked households, focused on developing a more seamless path for them to navigate the financial system.
• Collaborating with MoCaFi to help provide banking services to unbanked individuals, including offering MoCaFi customers the ability to use their MoCaFi debit card at our ATMs without incurring fees from Wells Fargo.
• Supporting to expand the Credit Builders Alliance (CBA) low-cost, credit-building consumer loan program to provide loan capital, capacity-building grants, and technical assistance to unbanked and underbanked individuals who need access to short-term credit.

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• We have teamed up with Operation HOPE to establish HOPE Inside centers within selected Wells Fargo branches across the U.S., where community members can get free one-on-one sessions with HOPE Inside financial coaches. Over 150 branch locations in 20 markets will be served by HOPE Inside by 2024.
  
• We're working with the HBCU Community Development Action Coalition to launch Our Money Matters at Historically Black Colleges and Universities (HBCUs), Minority Serving Institutions (MSIs), and Community-based Organizations. This initiative aims to equip students with much needed financial capability skills and access to support services. 
• With nearly 29% of our branches in low- to moderate-income (LMI) neighborhoods, we have introduced a new program within LMI neighborhood branches specially designed around the needs of the diverse communities we serve. The branches feature redesigned spaces created to deliver one-on-one consultations, improve digital access, and offer financial health seminars. We have selected a set of pilot locations to introduce the program, with a plan to expand to 100 LMI neighborhood Community Connections branches that have a high concentration of unbanked individuals.

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