Community Events

Community Events

On May 17^th, Wells Fargo made an announcement regarding an initiative that is aimed at assisting unbanked members of the community to attain financial stability through accessing affordable transactional accounts that are digitally enabled. The initiative targets the many unbanked, underserved and underbanked households in America. It also aims at offering financial education together with advice so that community members can manage their finances better. This is a great initiative that aligns with the company’s commitment to fostering sustainability and inclusivity for all people (Business Wire, 2021). I am reminded of a two-week campaign that took place in March this year within my neighborhood. The campaign was sponsored by a non-governmental organization known as Glory Outreach Assembly-GOA, and was focused on educating and mobilizing low-income households in the community, who form the majority, to either start or become consistent in saving. GOA envisions an economically free society, and it is clear that educating and mobilizing members to save aligns with this vision. The campaign is highly beneficial to GOA because it operates a savings and credit cooperative unit. By campaigning for more members to join, the company is bound to enjoy increased profits. The campaign might also be viewed as a unifying factor because it indicates that all members of the community are valued and important, regardless of their earning power. On the other hand, members of the community view GOA as a great help and the bridge to financial freedom and a means through which they can secure their future economically.

Response to Nyeshia

This is a very concise description of the concept of corporate social responsibility. However, it would be necessary to provide a few more examples of the charity work that Progressive does, besides donating equipment and furnishing homes. What does it do to eradicate poverty and create employment, for instance?

Reference

Business Wire. (2021). Wells Fargo launches Banking Inclusion Initiative to accelerate unbanked households’ access to affordable transactional accounts; New initiative will help unbanked Black and African Americans, Hispanics, and Native Americans have easier access to low-cost banking. https://newsroom.wf.com/English/news-releases/news-release-details/2021/Wells-Fargo-launches-Banking-Inclusion-Initiative-to-accelerate-unbanked-households-access-to-affordable-transactional-accounts/default.aspx

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