SABEResPODER and Wells Fargo & Company (NYSE: WFC) have joined forces to provide financial education to the underbanked in 13 cities through July 1, 2011. The educational campaign includes the introduction to financial literacy and to banking products and services that will help the underbanked succeed financially, ranging from opening a bank account to remitting money overseas to family and friends. The campaign will run in Anchorage, Phoenix, Tucson, Denver, Atlanta, Boise, Saint Paul, Albuquerque, Las Vegas, New York, Portland, Salt Lake City and Seattle.
Daniel Ayala, EVP, Head of Wells Fargo Global Remittance Services. (Photo: Business Wire)
“SABEResPODER and Wells Fargo have come together to empower Latinos by introducing the key basics of banking that are important to this community,” said Amir Hemmat, president and CEO of SABEResPODER. “We have seen time and time again that education is the key to helping Latinos succeed, and we’re happy to work with Wells Fargo to make this information available.”
Elements of the campaign include financial education guides, video and events, opt-in mobile text message tips and community events across the U.S. Additionally, as a way to encourage the underbanked to begin benefiting from the banking system, Wells Fargo is including an ExpressSend remittance rebate offer in the financial education guide that will be good throughout the campaign.
“At Wells Fargo, we are committed to working together with customers and communities to earn their trust and help them succeed financially,’’ said Daniel Ayala, EVP and head of Wells Fargo Global Remittance Service. “Whether needing to open a basic deposit account or looking for an economical and secure way to remit money to family and friends through our ExpressSend Service, Wells Fargo is here to help. We know; however, financial education is the first step and we are grateful that SABEResPODER is helping us reach Latinos who might not otherwise seek the financial education they need to help them reach their financial goals.”
“Financial literacy has proven to be the most successful development policy tool that increases financial access and helps build assets among migrants and families,” said Dr. Manuel Orozco, Remittances and Development Program, Inter-American Dialogue. “Furthermore, key to financial literacy success lies in choosing the right partner and its methodology. In this sense, the collaboration with SABEResPODER is a positive step toward strengthening an already financially vulnerable community, such as that of Mexican migrants.”
About Wells Fargo ExpressSend
Wells Fargo has been active in the international remittances to Mexico since 1995. Wells Fargo ExpressSend is an economical, convenient and dependable way to send money home. Wells Fargo ExpressSend’s distribution includes over 27,000 remittance payout locations with 26 remittance network companies located in 15 countries. The 15 countries include Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic, Colombia, Ecuador, Peru, Bolivia, Argentina, the Philippines, India, Vietnam and China.
Wells Fargo ExpressSend customers can send funds to their beneficiaries in most of the 15 countries through their choice of four options – account to account, account to cash, cash to cash, or cash to account. Wells Fargo provides multiple channels for transferring money, including by phone (800-556-0605 or 1-800-TO-WELLS), in store and online – more channels than most competitors.
The Wells Fargo ExpressSend customer experience is consistent among all channels – including Online, Phone Bank and in the stores. Wells Fargo’s remittance products are offered as value-added products to help us build relationships with our customers. Wells Fargo is focused more on building relationships, and less on transaction fees â”€ unlike some of the more traditional wire transfer services.
About SABEResPODER, a targeted Spanish-language media company, provides corporations, agencies and non-profit entities with powerful and exclusive educational media solutions for gaining incremental customers while empowering consumers to become more informed, confident and active participants in U.S. society. SABEResPODER is the highest rated Certified B Corporation in the country—a new type of corporation that uses the power of business to create public benefit. For more information about SABEResPODER, visit www.saberespoder.com.
Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
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