From "The Vision and Values of Wells Fargo"

[PBS Poll-435]

The Vision and Values of Wells Fargo
John G. Stumpf
President & CEO

Our product:
Service.

Our value-added:
Financial Advice.

Our competitive advantage:
Our People.


We are a big company. We’re the largest financial
institution headquartered in the western U.S. We span
all of North America. Our stock market value is about
$100 billion. Forbes ranks us among the world’s top 50
companies based on a composite of sales, assets, profits
and market value. We’re in the top 20 among all U.S.
companies in profits and market value. We’re one of
America’s 30 largest private employers, with more than
168,000 team members. We’ll continue to grow—not
to become bigger but as a result of getting better.

Regardless of how big we are and how much territory
we cover, we share, as one team, certain values that
hold us together wherever we are and whatever we do.
It doesn’t matter what our responsibilities are, our
levels or titles, what businesses we’re part of, or where
we live and work. We all should know our vision. We
all should know how we contribute to achieving that
vision. We all should be passionate about our values
and share them with others. We believe everyone on
our team is important and deserves respect. We believe
everyone contributes to Wells Fargo being known as
one of America’s great companies.

How Do We Picture Success?

Known by Our Team Members

We’ll be known as acompany that believes in people as
a competitive advantage, a great place to work, an
employer of choice, a company that really cares about
people, where teamwork is valued and rewarded, knows
the value that a diverse work force can bring, that
encourages innovation: new and better ways of serving
customers. In hiring, we really don’t care how much a
person knows until we know how much they care. Our
team members will say, “I chose the right company. I’m
valued. I’m rewarded. I’m recognized. We work hard
but we have fun, too. I can improve my professional
skills here. I can reach my career goals. I enjoy my
work.” Our people will be highly motivated, selfstarters.
They’ll all “run it like they own it.” They’ll be
winners. Our team members are our most important
constituency because they’re the single most important
influence on our customers and we want all our team
members to be our customers, too. We’re proud to
compete in an industry that is central to the growth of
our national and local economies—an industry where
we can make a fair profit and still do good for our
customers and communities at the same time. As team
members, we’ll be proud that our work helps make
Wells Fargo one of America’s most successful and
admired companies. This will result over time in a
higher stock price that will benefit all of us
because virtually all of us own stock in our company
either directly or through our industry-leading
401(k) plan.

Known by Our Communities We’ll be regarded as the
premier financial services company in each of our
markets. We’ll promote the economic advancement of
everyone in our communities including those not yet
able to be economically self sufficient, who have yet to
share fully in the prosperity of our extraordinary
country. We’ll be known as an active community leader
in economic development, in services that promote
economic self-sufficiency, education, social services, the
arts, and the environment. The Office of the
Comptroller of the Currency rates our bank
“Outstanding” for community reinvestment, the
highest rating possible, earned by less than one of every
five national banks. Just one example of our leadership:
I don’t know of any other company in America that’s
doing a better job of personal finance education than
Wells Fargo. With the help of students and teachers,
we’ve designed a curriculum (in English and Spanish)
for online financial literary called “Hands on Banking®”
which can be accessed through the internet at
www.handsonbanking.org.

We expect our team members to be community leaders.
They have the major voice in deciding how Wells Fargo
responds to the unique needs of their own
communities. Wherever you go across Wells Fargo
territory you’ll see our team members rolling up their
sleeves—on community fund raising campaigns, nonprofit
boards, and community events.

We’ll provide:
• financial capital (cash contributions)—we’re one of
corporate America’s largest givers, ranking ahead of
peers who are two to three times our size,
• human capital—caring, energetic team member volunteers,
and
• social capital—leaders at the table in business and
community partnerships

Responsible Lending

This is a perfect example of how
we do what’s right for customers. We want to build
long-term relationships including those whose credit
history may not qualify them for traditional prime rate
loans. Wells Fargo Home Mortgage and Wells Fargo
Financial have five principles for responsible lending:

1. Pricing on all loans is fully disclosed and competitive,
reflecting a complete view of the customer’s finances,
credit history, characteristics of the transaction and
property involved.
2. Wells Fargo will make enough information available
to the customer to encourage an informed decision.
3. Points and fees are capped to maintain competitive
loan pricing based on the consumer’s finances and
credit history.
4. Every real estate loan, made through our mortgage
or consumer finance non-prime lending channels,
must provide a demonstrable benefit to the customer
or we won’t make the loan.
5. We make diligent efforts to determine that customers
have a high likelihood of repaying a loan before they
commit to it.

We have an excellent track record of helping our
borrowers stay in their homes even when financial
difficulties arise. Our delinquency and foreclosure rates
are significantly lower than the industry average. It’s
totally contrary to our vision and values to attempt to
sell a customer any product or service that’s not in
his or her best long-term interests. Time and again
our customers tell us they recognize and appreciate
the value of the service we provide them; the
most significant way they do this is by giving us more
of their business.

People Our most important value is this: we believe in
people as a competitive advantage. We strive to find the
best people from a diversity of backgrounds and
cultures, give them the knowledge and training they
need, allow them to be responsible and accountable for
their businesses, and recognize them for outstanding
performance. Products and technology do not fulfill the
promise behind a brand—people do, people who are
more talented, more motivated, more energized than
their competitors. We believe our people will outexecute
our competitors every time because they care
more than our competitors do. While we do this, we
expect to have fun, too.

This is the core of our culture. Culture means knowing
what to do in the morning without having someone tell
you what to do. We want to comply with not just the
letter of the law but the spirit of the law. People as a
competitive advantage should be that instinctive. It’s
the starting point of every decision we make. When our
people are in the right jobs, spending time on the right
things, managed well, feeling good about their
contributions, fully using their skills and learning new
ones, and having fun—they’ll do it right for the
customer. When they’re properly incented, rewarded,
encouraged, and recognized—they’re even more
satisfied with their jobs, they will provide better service,
generate more sales, and produce even better business
results. This generates more revenue—which results
in greater profit—which fuels a higher stock price.

[tavalon]

1. I bank with Wells Fargo (long story, wouldn't have been my first choice)

No matter which branch I go into the people who work there are friendly and the vibe is relaxed among the coworkers. Without exception, I've enjoyed working with the ground level.

I know that Wells Fargo is corrupt, they all are but I think if the employees behave the way Wells Fargo employees behave, they have to be doing one or two things right.

End of defense. Weak defense, I know.

[PBS Poll-435]

2. kick

:shrug:

[PBS Poll-435]

3. I give up

For some, it is far easier to criticize from a place of ignorance.