Wells Fargo Team Members Trade Offices for Classrooms During Its Annual Support of ‘Get Smart About Credit’

  Wells Fargo Team Members Trade Offices for Classrooms During Its Annual
  Support of ‘Get Smart About Credit’

Wells Fargo to participate for the eighth year as part of the American Bankers
               Association National Financial Education Program

Business Wire

SAN FRANCISCO -- October 14, 2013

More than a thousand Wells Fargo & Company (NYSE:WFC) team members are
expected to volunteer in classrooms and nonprofits throughout the country as
part of Get Smart About Credit, a national financial education program about
the responsible use of credit.

“Understanding how to build credit and how to use it responsibly helps
consumers make decisions that lead to financial success,” said Beverly
Anderson, head of Wells Fargo’s Consumer Financial Services group. “Making
wise financial decisions is easier when you’re well informed and we want to
give our customers tools to chart a path toward a successful financial

The education outreach is part of the 11^th annual American Bankers
Association National Get Smart About Credit Day on Oct. 17. This is the eighth
year Wells Fargo has participated in the initiative, and the company is
continuing to expand its participation to include schools and nonprofit
organizations during the entire month of October. In 2012, more than 1,000
team member volunteers donated 4,000 hours of time to teach 1,400 credit
classes that reached more than 65,000 people.

Throughout October, Wells Fargo team member volunteers will use the company’s
free, online Hands on Banking^®/ El futuro en tus manos^® money management
program to discuss topics such as lending and trustworthiness, credit and
spending limits, credit histories and the cost of credit. Hands on Banking,
which debuted in 2003, saw a 77 percent increase in traffic in 2012 with
280,000 unique visitors from more than 190 countries. The article titled
“About Credit Cards” was by far the most popular.

“Promoting financial education is one of Wells Fargo’s core values,” said
Angel Zapata, national Hands on Banking manager. “Credit-related education is
one of the most popular subjects within our free Hands on Banking program, so
we’re very pleased that we can put some special focus on it during our annual
participation in Get Smart About Credit and help individuals and families
learn more about how to manage their credit wisely.”

Five Steps to Strong Credit

Taking control of your finances can help you manage your money and build a
stronger credit history.

1. Check your credit Report: Once a year, consumers can request a free credit
report from each of the three major credit reporting agencies – Equifax,
Experian and Transunion – at AnnualCreditReport.com or call 1-877-322-8228.
Review the reports carefully and correct any errors.

2. Understand the factors that affect your credit: Your credit score gives
lenders a snapshot of your credit risk. By understanding what impacts your
score, you may be able to improve it.

3. Raise your credit score: Managing your credit responsibly over time is one
of the best ways to improve your credit score. Five key criteria are generally
used to calculate a consumer’s credit score:

  *Payment History: information about whether you’ve made on-time payments
    has the most impact on your score.
  *Credit Accounts: A balanced mix of different types of credit can help
    improve your score.
  *Credit Usage: Owing a lot or being near your credit limit on multiple
    accounts negatively impacts your score.
  *Length of Credit History: Reviewers check to see if you can responsibly
    manage credit accounts over time.
  *Credit Applications: Opening multiple new credit accounts may represent a
    greater risk for lenders.

4. Create and monitor your budget: A budget gives you more control over your
finances and helps you eliminate unnecessary expenses.

5. Know what lenders look for. When consumers apply for a loan, lenders assess
their credit risk based on a number of factors, often called the Five Cs of

  *Credit history. Have you established credit and is your credit score high
    enough to qualify you?
  *Capacity. Is your income sufficient?
  *Collateral. Does the collateral you’re borrowing against have enough
  *Capital. Do you have assets set aside as another source for repayment?
  *Conditions. Does the current economy or purpose for the credit make it a

Wells Fargo offers a variety of free tools designed to help individuals at any
life stage learn ways to manage their finances more responsibly. For more
information and resources about how to use credit sensibly to achieve
financial goals, visit http://www.wellsfargo.com/creditsmart.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based
financial services company with $1.4 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, and the Internet (wellsfargo.com), and has offices
in more than 35 countries to support the bank’s customers who conduct business
in the global economy. With more than 270,000 team members, Wells Fargo serves
one in three households in the United States. Wells Fargo & Company was ranked
No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and help them
succeed financially. Wells Fargo perspectives are also available at

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Natalie Brown, 775-689-6123
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