Wachovia Expands Support for Minority Business Enterprises

Wachovia Corporation has announced the second phase of its Technical Assistance Project (TAP) to California, allowing the company to maintain its longstanding commitment to communities and minority business enterprises (MBE) within its markets.


Part of Wachovia's merger with Westcorp, phase II of TAP is based on the success Wachovia experienced with the SouthTrust merger in 2004. "Wachovia's TAP initiative will give selected California MBEs a better opportunity to grow in the corporate procurement marketplace,” said Lenny Springs, director of Supplier Diversity for Wachovia. “The program also lets Wachovia contribute to the economic growth of the many communities where we do business."


TAP is a part of Wachovia's overall commitment to minority businesses. Program initiatives for selected MBEs include:
Growth summits focused on building business capacity.
One-on-one capacity-building initiatives to help MBEs be more competitive in the marketplace.


R.J. Medrano & Associates (RJM&A), a Hispanic-owned firm specializing in minority, women and small business enterprises, and The Dilworth Companies, an African-American-owned company specializing in strategic investments and business capacity building, were retained by Wachovia to provide consulting and management assistance. “The results of the previous Technical Assistant Project illustrate the potential benefits of minority businesses development initiatives,” said Raul Medrano, president of RJM&A. “I'm excited to work with a company with such an innovative approach to minority businesses.” Formed in 2001, Wachovia's Supplier Diversity Program ensures the development of mutually advantageous business relationships with businesses and firms owned and operated by minorities and women.



Wachovia Corporation is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services.


Wachovia has retail and commercial banking operations in 16 states with 3,109 offices from Connecticut to Florida and west to Texas and California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide.


Globally, Wachovia serves clients through more than 40 international offices. Wachovia had assets of $553.6 billion, market capitalization of $86.0 billion and stockholders' equity of $48.9 billion at June 30, 2006.

Quicken Loans Rated #1 Place to Work in Technology for 2nd Consecutive Year by Computerworld

Quicken Loans, formerly known as Rock Financial Corporation, was founded in 1985 and quickly developed into one of the largest independent mortgage banks in the United States. Quicken Loans has over 3,500 employees and closed $16 billion in mortgages during 2005.


Livonia, MI (June 19, 2006) For the second consecutive year, Quicken Loans Inc., the nation’s largest online home mortgage lender, has earned the #1 position on the list of the “100 Best Places to Work in Information Technology,” compiled annually by IDG’s Computerworld.


The list appears in the June 19 issue of Computerworld magazine and online at Computerworld.com. Computerworld’s annual “Best Places to Work in Technology” feature ranks the top 100 work environments for technology professionals, based on a comprehensive questionnaire regarding company offerings in categories such as benefits, diversity, career development, training and retention.


This year, Computerworld surveyed more than 27,000 technology workers for the list and their responses factored heavily in determining the rankings. Quicken Loans technology professionals cited the ability to take ownership of ideas and projects, and the company’s focus on building technology in-house versus buying it off the shelf, as key factors leading to their job fulfillment.


“We’ve assembled the most talented group of people at any company and given them a tremendous amount of responsibility,” says Chief Information Officer (CIO) Todd Lunsford. “Our Technology Team is responsible for building, maintaining and constantly improving our 50-state loan origination platform and about 200 different business applications. They are empowered everyday to make decisions that directly affect the company and our clients. I think it says a lot to a person when you tell them their goal as a team is to lead the industry in technology and innovation, and that you are asking them to create and design that technology, not just implement some other company’s software.”


“Having a lot of smart people doesn’t automatically guarantee success,” says company founder and Chairman Dan Gilbert. “You have to create a culture and an environment that encourages people to go deep in their thinking, way below the surface, so they can find better ways to do things. Then you have to give them the freedom to implement and execute those great ideas. We don’t let bureaucracy get in the way of innovation and improvement here. We hire smart people and then we trust them to make the right decisions. As a result, our Technology Team has developed many industry-leading technologies that have made our business simpler and easier for our clients, and in doing so, they have had tremendous impact on our company’s growth.”


“We have a company culture that’s very strong, rich and entrepreneurial,” agrees Lunsford. “Culturally, people take ownership and have the ability to make an impact. Every day they determine the inches that will make this company even more successful and they are empowered to execute on their ideas. Our Technology Team understands our business and they think like the client, whether it be an internal client or a client who is in the process of buying a home or refinancing their mortgage. We’ve attracted great people who ‘get it’ and they have helped us build the foundation for other great folks who also want to be part of something very special.”


As a result of this focus on innovation, the Quicken Loans Technology Team has earned a number of technology awards, including a Computerworld Laureate for its Customer Relationship Management (CRM) system, and several Computerworld awards for “Best Practices in Business Intelligence.” The company’s web site has been ranked “Best of the Web” by Forbes PC and Money magazines. In Computerworld’s survey, Quicken Loans’ Technology Team members also cited many benefits the company provides.


For example, employees receive performance-based pay and annual bonuses. Team Leaders can grant spot bonuses for exceptional performance or reward their team with trips for their hard work and productivity. The company also offers team members home loan discounts, free computer loans, and tuition assistance for team members who are enrolled in college courses.


Quicken Loans also provides a fun work environment. The team member lounges are stocked with free cappuccinos, popcorn and slushies. The company’s in-house rock band "The Loaners" performs at meetings. For the company’s 20th Anniversary last year, more than 5,000 team members and their families were transported to Cleveland for an all-weekend celebration that culminated with a free concert by Grammy award-winning group The Black Eyed Peas and an appearance by Kid Rock. (Company founder and Chairman Dan Gilbert also is majority owner of the National Basketball Association’s Cleveland Cavaliers and operator of Cleveland’s Quicken Loans Arena, where the Cavaliers play.)


Great perks like these help make Quicken Loans a fun place to work, but it’s the company’s culture that vaulted them to the top of the rankings.


Quicken Loans has over twenty years of experience in mortgage lending and closes loans in all fifty states. Borrowers can have their loans processed by Quicken Loans in as few as fifteen days. Quicken Loans offers more than 150 loan programs. Nine out of ten clients say that they would recommend Quicken Loans to others.

Washington Mutual's "Ks for Kids" Program Raises $22,000 For Bay Area Children

San Francisco All-Star Jason Schmidt Delivers Strikeouts for Bay Area Kids; More Than $22,000 Raised So Far in Washington Mutual's Ks for Kids Program

SAN FRANCISCO--(BUSINESS WIRE)--June 30, 2006-- Washington Mutual (NYSE:WM) has teamed with San Francisco star pitcher Jason Schmidt for "Ks for Kids" -- a fun charitable giving program that benefits Bay Area children. Throughout the 2006 regular season, Washington Mutual will donate $50 for every strikeout registered by Schmidt and his Orange and Black pitching teammates.

As a proud sponsor of Giants baseball on KNBR 680, Washington Mutual's Ks for Kids program is promoted during KNBR's baseball broadcasts and features a series of spots voiced by Schmidt. Each week, the total strikeouts are tallied and announced on the air. As of the date of this release, some 78 games into the season, San Francisco pitchers have recorded 442 strikeouts including a team record and season high 16 strikeouts by Schmidt, the Ks for Kids spokesman, against the Florida Marlins, raising $22,100 thus far for the Mission YMCA of San Francisco.

At the conclusion of the season, Schmidt will visit the Mission YMCA, this season's Ks for Kids recipient, to meet kids in one of the Y's six afterschool education programs, and to help present the organization with a big check.

Washington Mutual's community involvement includes supporting K-12 public education and consumer financial literacy education programs, as well as providing a volunteer program that gives four hours paid time off each month to all full-time WaMu employees to volunteer during the day. In the Bay Area, WaMu sport-related social marketing programs also include Touchdowns for Tots, which provides a donation for designated Bay Area children's charities for every Oakland Raider and San Francisco 49er touchdown scored during the regular NFL season. The program is also conducted with the Dallas Cowboys.

Washington Mutual hopes to be the national leader in consumer and small business banking through its mission to build strong and profitable relationships with a broad spectrum of consumers and small businesses. Washington Mutual asserts its core values to be fair, caring, human, dynamic, and driven. Compare Washington Mutual home loans and rates to other lenders to find one that is right for you.