(BLACK PR WIRE) – WASHINGTON, DC (January 10, 2013) – UNCF (United Negro College Fund), the nation’s largest and most effective minority education organization, announced today that Wells Fargo & Company (NYSE: WFC), a nationwide, diversified, community-based financial services company with $1.3 trillion in assets, will expand their relationship with UNCF by investing $3 million to help more African American students attend and graduate from college. Wells Fargo presented UNCF with a check in conjunction with the taping of the 34th edition of UNCF An Evening of Stars®, UNCF’s annual television special, which took place in Pasadena, Calif.
Wells Fargo will invest $1 million annually in UNCF during the next three years to help students earn college degrees and get an education before college that prepares them for college coursework and college success. The Wells Fargo investment will target UNCF initiatives that include:
• Helping to tell a national audience about the importance of college education, college readiness, and the achievements of UNCF and its students, through Wells Fargo’s sponsorship of UNCF An Evening of Stars®, a two-hour, nationally televised musical variety special that spotlights some of the biggest names in entertainment and UNCF student success stories;
• Helping middle-school, high school and college students and their families plan for college and learn about financial responsibility and management through the UNCF Empower Me Tour Presented by Wells Fargo, a free, traveling college- and career-readiness road show hosted by celebrities;
• Providing financial aid to students attending historically black colleges and universities (HBCUs) under the UNCF-administered Wells Fargo Scholarship Program; and
• Supporting the more than 57,000 students who attend UNCF member historically black colleges and universities (HBCUs) through Wells Fargo’s sponsorship of the UNCF “A Mind Is…” Gala.
“UNCF is grateful for Wells Fargo’s investment in better futures for African American students,” said UNCF President and CEO Michael L. Lomax, Ph.D. “By investing in UNCF, Wells Fargo is making a major contribution to helping students earn college degrees and to making the case for the right of every student to a college-ready high school education.”
“At Wells Fargo we’re committed to education and economic empowerment,” said Gigi Dixon, senior vice president, director of National Partnerships for Wells Fargo. “We also believe access to high-quality, affordable education is an important way we can help our communities become economically self-sufficient. We’re proud of our relationship with UNCF and the opportunities it creates for low-income and underrepresented students to attend and graduate from college – one of the single most important things they can do for their professional and financial success.”
UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports more than 60,000 students at over 900 colleges and universities across the country. UNCF supports education through scholarships and other programs, by supporting its 38 member colleges and universities, and by advocating for the importance of minority education and college readiness. UNCF institutions and other historically black colleges and universities are highly effective, awarding 20 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. The UNCF logo features the torch of leadership in education and UNCF’s widely recognized motto, "A mind is a terrible thing to waste."® Learn more at www.UNCF.org.