By Daily Press staff
Wells Fargo has announced that it will bring back its “Team Up for Our Schools” program for a second year to help the Santa Monica-Malibu Unified School District overcome budget challenges.
Through the program, Wells Fargo donated $2.9 million to more than 1,200 public school districts nationally last year — including more than $8,500 to support schools in Santa Monica and Malibu.
“Last year’s Team Up for Our Schools program proved to be so successful for local education that we are bringing it back again this fall with the hope of building on last year’s contribution to local school districts,” said Shelley Benson, Wells Fargo LA Coastal Community Banking Market President, who oversees Westside banking stores, among others. “We all know that school revenues and spending per student have not kept up with the need due to budget challenges. As concerned and active members of the local community, we want to continue to do our part to help students, teachers, and schools during these challenging times.”
According to the May 26, 2004 National Association of Education’s Rankings and Estimates report, the percentage increase in spending per student, for teacher salaries and total revenues fell from the 1999-2000 school year to 2003-2004 projections. Spending per student dropped from 5.8 percent to 3.6 percent; teacher salaries slipped from 3.1 percent to 2 percent and total revenues fell from 6.9 percent to 4.9 percent.
Through its Team Up for Our Schools program, Wells Fargo will donate up to $30 to the local school district for every new Wells Fargo checking package opened with selected services from Aug. 30 through Oct. 31. A Wells Fargo checking package is a checking account plus three other services including the customer’s choice of a savings account, online banking, direct deposit, Wells Fargo Online Bill Pay or a Wells Fargo credit card with the Wells Fargo Enhanced Rewards SM program, among others.
The Team Up for Our Schools program will be available in four Wells Fargo branches in Santa Monica and Malibu, and others throughout Southern California. In addition, Vons and OfficeMax stores in the greater Los Angeles area will partner with Wells Fargo to promote the Team Up for Our Schools program to shoppers.
Nationally, schools and educational programs received nearly $104 million in support from Wells Fargo in the last five years — nearly $26 million in 2003 alone.
Originally published in the Santa Monica Daily Press print edition on August 17, 2004. Read the original PDF.