Habitat for Humanity International has announced that during 2010 it received grants totaling $11.8 million from Wells Fargo, significantly exceeding the company's original commitment of $8 million. The San Francisco-based financial services company plans to award an additional $5 million in grants to the organization in 2011 through the Wells Fargo Housing Foundation.

In 2010, Wells Fargo team members volunteered more than fifty thousand hours to Habitat projects and donated nineteen properties to help create affordable housing opportunities for families in need. Wells Fargo allocated $7.2 million of its funding to Habitat's Neighborhood Revitalization Initiative, a program designed to construct, repair, and rehabilitate low-income housing in areas severely affected by foreclosures. The remaining $4.6 million was awarded to local Habitat affiliates through the Wells Fargo Team Member Volunteer program. An additional $3.4 million in community lending was provided to Habitat for Humanity International.

"Habitat's Neighborhood Revitalization relies on partnership with other organizations to solve a variety of problems associated with foreclosed and abandoned properties throughout the country," said Habitat for Humanity International CEO Jonathan Reckford. "With the support of great partners like Wells Fargo, Habitat for Humanity affiliates are able to work with families and neighborhood organizations to help struggling communities thrive."