A recent Wells Fargo survey shows that one-third of Americans worry more about finances than health. So just like regular medical check-ups, regular reviews of your credit can help keep you financially healthy. More about this at the Wells Fargo Blog.
Oct. 1 – Nov. 16, Wells Fargo customers can visit a banking store, or go online to wellsfargo.com/freecredit score , and learn how to get a unique access code to receive a complimentary, no-obligation consumer credit score and credit report. Wells Fargo is offering the service as part of our support of the American Bankers Association’s Get Smart About Credit program, a national campaign to raise awareness about the responsible use of credit.
Credit is what makes the financial world go ‘round. Wells Fargo’s history has stories of people using credit responsibly to improve not only themselves, but the people and industries they were connected with. Henry Wells, for instance, sent a message over the new telegraph line between Washington, D. C. and Baltimore after its completion in 1844. Wells was fascinated by the promise of the new technology; he invested money, and solicited funds from other investors, to establish the first telegraph lines in New York State.
- Thirty-one year-old Jacob Levitt immigrated to America from Lithuania and sold tin products in rural Iowa. He recognized the need average people had for access to credit, and founded the State Loan Company in Des Moines, Iowa in 1897. In 1924, the company pioneered direct mail financing, offering “loans by mail.” The company Levitt started became Dial Finance (“Solving Money Problems is Our Only Business”), and became part of Wells Fargo in 1998.
- After four years of difficulty, Andrew Smith Hallidie successfully demonstrated the first cable car in San Francisco in 1873. The Savings and Loan Society, now part of Wells Fargo, offered a loan that finished Hallidie’s fundraising efforts. The cable cars run to this day, and help define the City by the Bay.
- Philo Farnsworth is recognized as the inventor of the television. In 1927, Farnsworth demonstrated the transmission of television signals after getting a loan from Crocker National Bank, which joined Wells Fargo in 1988.
- Security Bank and Trust Co., an affiliate of Northwestern Bank Corp. in Minneapolis, loaned Elizabeth “Betty Wall” Strohfus money to take flying lessons. She put her bicycle up for collateral, and did not realize that it wasn’t enough; only later did she learn that the bank manager himself, impressed with her ambition, had cosigned the loan. Strohfus became a member of the Women’s Air Service Pilots during the Second World War, where she flew different aircraft and missions, and prepared pilots for combat.
Building and maintaining strong credit are important steps in achieving financial goals and financial success. Learning responsible money management habits can help consumers navigate life’s various credit stages. In addition to the online resources above, throughout the month of October, Wells Fargo team members will also be in classrooms and community centers teaching the ins-and-outs of credit in support of the American Bankers Association’s annual Get Smart About Credit program.
Here’s to your financial health!