39 We’ve made a concerted effort to develop products and services to serve all customers in every phase of their financial journeys . We constantly seek to learn about our customers’ financial needs, behaviors, and goals to glean the insights that can help us tackle some of society’s greatest challenges . We strive to support under- resourced individuals, to serve populations who’ve been historically discriminated against, and to protect vulnerable consumers who may be afraid or unable to speak up for themselves . Banking Inclusion Initiative In 2021, we announced the Banking Inclusion Initiative , a 10-year commitment to help unbanked individuals gain access to affordable, mainstream, digitally-enabled transactional accounts — a meaningful entry point to fully participating in the economy and achieving financial stability . This initiative will focus on reaching unbanked communities and, in particular, helping remove barriers to financial inclusion for Black and African American, Hispanic, and Native American/Alaska Native families . The commitment will be focused on expanding access to affordable products and digital solutions, financial education and advice, and collaboration with stakeholders to develop solutions and measure success . Advancing Homeownership® among low- and moderate- income and diverse individuals Low- and moderate-income Americans and persons of color continue to have difficulty achieving the dream of homeownership . Our long-term focus on lending to these underserved segments is helping to bridge this homeownership gap . Wells Fargo is the largest lender in the low- and moderate-income communities and the largest affordable housing lender in the U .S . ¹ In 2016, we made an ambitious five-year commitment to provide $150 billion in new home purchase loans to minority households and $70 billion in loans to LMI households . We’ve made significant progress toward these commitments . We brought further focus to our work to increase the number of LMI and minority homeowners with the launch of Advancing Homeownership® . This effort includes a mix of tools, information, and opportunities, all designed to remove barriers and expand access to homeownership, and support efforts to build stronger communities . Advancing Homeownership includes 10-year commitments to provide $125 billion in home purchase loans for Hispanic homebuyers and $60 billion in loans for Black and African American homebuyers . In addition, we’ve made a commitment to provide a total of $25 million in funding for homebuyer education and counseling programs in support of these efforts . 1 . According to the Mortgage Bankers Association, 2020 . Performance trends can be found in the Wells Fargo ESG Goals and Performance Data (PDF) .