Investing in Chicagoland

Making waves in Chicagoland

Our investments in the Chicago area reflect our dedication to fostering economic growth and empowering communities across the Chicagoland region.

Wells Fargo is more than a bank, we’re a valuable part of growing communities. As we expand into more corners of the Chicagoland area, we’re bringing fresh ideas and financial solutions to consumers, entrepreneurs and businesses large and small. We’re also creating job opportunities and delivering local face-to-face customer service to better serve Chicago area customers. With a strengthened commitment, we’re doubling the size of our Commercial Banking sales team, increasing our number of retail banking centers, and actively supporting community advancement through foundation grants and commercial real estate loans for multifamily and affordable housing. These efforts reflect our dedication to fostering economic growth and empowering communities across the region.

A stronger local presence

Local expertise and convenient access are key to building successful financial relationships. Wells Fargo is focused on serving Chicagoland customers with increased banking services in both the business and consumer sectors.

Commercial Banking. Over the next year, Wells Fargo will double the number of commercial bankers based in Chicago. This expands our capabilities to offer industry-based insights and solutions to address the emerging needs of more middle-market and large businesses.

Retail Banking. Wells Fargo plans to grow from seven to at least 30 retail banking centers in and around downtown and in historically underinvested areas. This represents an investment of an estimated $175 million in the greater Chicago area over the next few years.

Kyle Hranicky, Commercial Banking CEO

“Chicago businesses show great potential for growth, and with our ongoing expansion, we’ll be able to provide streamlined access to the financial solutions these businesses need.”

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Giving back through philanthropy

Reaching up, reaching out

Since 2018, Wells Fargo’s philanthropic giving in the Chicago area totaled nearly $40 million. We collaborate with community organizations in support of housing, small business growth, financial health, sustainability, and more. Wells Fargo employees lend a helping hand by donating time, effort, and money to break down barriers and build stronger communities.

Sustainability

Supported by a $3.15 million grant from the Wells Fargo Foundation in 2022, Elevate, a climate justice nonprofit, is providing access to clean, low-cost energy for approximately 100 Chicago homes in underserved areas.

Neighborhood preservation

In 2024, The Wells Fargo Foundation announced a $500,000 grant for Neighborhood Housing Services of Chicago, Inc. (NHS) in support of the Chicago Flats Initiative. The goals of the initiative are to preserve and rehab two- and four-flats, maintain rental affordability, and help homeowners build wealth.

Financial health

In 2024, the Wells Fargo Foundation provided a $100,000 grant to nonprofit Quad Communities Development Corporation (QCDC) to fund small business training, a five-part financial management series, and a business development service program.

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A new wave of affordable housing

Preserving and expanding affordable housing

The Wells Fargo Commercial Real Estate business group has helped preserve and expand the availability of affordable housing in Illinois.

More than $110 million in community lending and investment capital resulted in 445 units of affordable housing in 2023
In 2023, Wells Fargo provided $395 million in new loans to finance 3,028 units of multifamily rental housing

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Wells Fargo press release 10-3-2023

Wells Fargo press release 6-20-2024

Wells Fargo press release 10-7-2022

Chicago Business Journal - 7-11-2024

Wells Fargo internal data as of YE 2023

Commercial Banking products and services are provided by Wells Fargo Bank, N.A. and its subsidiaries and affiliates. Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company, is not liable or responsible for obligations of its affiliates. Deposits held in non-U.S. branches are not FDIC insured. Products and services require credit approval.

Wells Fargo Corporate & Investment Banking (CIB) and Wells Fargo Securities (WFS) are the trade names used for the corporate banking, capital markets, and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, member of NYSE, FINRA, NFA, and SIPC, Wells Fargo Prime Services, LLC, member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A., member NFA and swap dealer registered with the CFTC and security-based swap dealer registered with the SEC, member FDIC. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC, are distinct entities from affiliated banks and thrifts.

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