Change Makers

Good luck comes in red envelopes

Since 1961, Chinese customers preparing Lunar New Year gifts of “lucky money” have turned to Wells Fargo for festive envelopes.
Black and white portrait of a man in suit and tie placed next to color picture of red envelopes with gold Chinese characters.
Featured photo caption: Wells Fargo Banker Lyman Jang (left) and Wells Fargo red envelopes (right.) Photo Credit: Wells Fargo Corporate Archives.

It is a tradition for families and friends to exchange “lucky money” on special occasions like weddings and during the Lunar New Year. Crisp bills are placed in bright red envelopes, the luckiest of colors. Gold decorations are typically printed on the envelope with the Chinese characters for great luck and great adventure. Sometimes sketches of the peach and the pine tree are used to represent longevity, while the carp may also be chosen to represent success. More than giving money, gifting a special envelope is a way to share joy and build relationships.

Front and back of a red envelope. Gold foil design on front of two fishes and two peaches with Chinese Characters. Back design features the Wells Fargo stagecoach and Chinese characters. Image link will enlarge image.
First known Lucky Money envelopes featured peaches for longevity and carp for success, 1961. The bank’s name at the time was Wells Fargo American Trust Company. Photo Credit: Wells Fargo Corporate Archives.
Red envelope with gold foil design of a butterfly and flowers. Image link will enlarge image.
Lucky Money envelope, mid 1960s. Photo Credit: Wells Fargo Corporate Archives.
Red envelope with a black ink design of a peach. Image link will enlarge image.
Lucky Money envelope, mid 1960s. Photo Credit: Wells Fargo Corporate Archives.
Red envelope with black ink design of two people and a lantern. Image link will enlarge image.
Lucky Money envelope, mid 1960s. Photo Credit: Wells Fargo Corporate Archives.
Red envelope with gold foil design of Chinese characters. Image link will enlarge image.
Lucky Money envelope, 1969. Photo Credit: Wells Fargo Corporate Archives.
Red envelope with gold foil design featuring two cranes. Image link will enlarge image.
Lucky Money envelope, 1971. Photo Credit: Wells Fargo Corporate Archives.

Making celebration preparations more convenient for Wells Fargo’s customers

The tradition at Wells Fargo is believed to have started with a banker named Lyman Jang, who understood the importance of Lunar New Year. He was born in 1920 in Courtland, California. His father was a merchant at the Wo Chong Store, which is the only standing building of the once bustling Chinese community along the Sacramento River Delta. At the age of 17, Jang traveled to China to study language for two years at University of Nanking (today Nanjing University).

In 1961, Jang was working as an assistant cashier at Wells Fargo’s Chinese Department, which specialized in services for Chinese-speaking customers in California and abroad. Jang daily used his language skills to help customers conduct business in-language and manage correspondence with banks in Hong Kong. As Lunar New Year approached, he found a way to make the celebration preparations more convenient for Wells Fargo’s customers in Northern California.

Jang bought decorated red envelopes printed with the Wells Fargo logo and sent them to branches in areas with large numbers of Chinese customers. Realizing that some of the bank staff might not understand what he was sending, he sent a letter explaining the importance of lucky money during Lunar New Year, describing it as “an opportunity to create goodwill among our Chinese customers.” The program was an immediate success.

A yellow paper with a typewritten memo in black ink dated January 21, 1961. It reads: Attached is an explanation of “Lucky Money” and a few red envelopes printed with our name. Judicious use of these envelopes gives us the opportunity to create goodwill among our Chinese customers and depositors. If a further supply of envelopes is needed please direct the request to Chinese Department, 464 California Street Office. L. Jang. Image link will enlarge image.
Letter from Lyman Jang when sending the Lucky Money envelopes to other Wells Fargo branches. Photo Credit: Wells Fargo Corporate Archives.

Popular demand caused the branches in Oakland and Sacramento to re-order more envelopes from Jang before Lunar New Year even started. The Wells Fargo branch in Stockton gave out an estimated 3,800 envelopes to customers and noncustomers alike. With a Chinese population of about 2,300 in 1960, that meant there were enough for at least one envelope for every family celebrating the holiday in the Stockton area.

A yellow paper with a typewritten memo in black ink dated February 23, 1961. It reads: Mr. L. Jang Assistant Cashier Chinese Department Head Office The “Lucky Money” envelopes were well received by the Chinese customers. Although we limited the No. of envelopes, as you suggested, we were forced to reorder before February 15th. We still have a supply for use on other occasions. George H. Thomas Assistant Cashier. Image link will enlarge image.
Letter from Oakland branch asking Lyman Jang for more Lucky Envelopes for customers, 1961. Photo Credit: Wells Fargo Corporate Archives.
A yellow paper with a typewritten memo in black ink dated February 2, 1961. It reads: Memo to Mr. Jang Dear Lyman, red paper envelopes going over great. Pregnant idea!! Customers comment: “{If you are supplying me with the envelopes give me enough.” Supply is getting low. Can you spare another box? Happy New Year. Image link will enlarge image.
Letter from Sacramento branch asking Lyman Jang for more Lucky Envelopes for customers, 1961. Photo Credit: Wells Fargo Corporate Archives.
A yellow paper with a typewritten memo in black ink dated March 10, 1961. It reads: Mr. Lyman Jang Assistant Cashier Chinese Department Wells Fargo Office #075 For your information, we wish to report that the Chinese red envelopes we handed out as our good-will gesture during the Chinese New Years’ holidays were very favorably received in this community. Out of the 5,000 received from you, we have about 1,200 left. Image link will enlarge image.
Letter from Stockton branch summarizing the popularity of the program, 1961. Photo Credit: Wells Fargo Corporate Archives.

Over the following years, the decorations on the envelopes changed, but customers continued to visit Wells Fargo to get their lucky money envelopes to welcome the new year. Today, this seasonal tradition continues. Customers can get envelopes to share good luck with their friends and family for the coming year at select Wells Fargo branches.

More about Lyman Jang

Jang was working at a farm near his hometown of Courtland, California, when World War II began. As America went to war in the 1940s, Jang enlisted in the armed forces with an estimated 18,000 other Chinese and Chinese Americans whose service was recognized with a Congressional Gold Medal in 2018. He served in the U.S. Air Force for two years.

Black and white photograph of a man in a suit and tie. Image link will enlarge image.
Lyman Jang, 1960. Photo Credit: Wells Fargo Corporate Archives.

After the war ended, Jang moved to San Francisco and started working at the International Department of the American Trust Company, where he used his study of Chinese to help customers in Chinese communities and abroad. During that time, he also became a naturalized citizen as changes in immigration law provided an avenue for citizenship for American-born children of Chinese immigrants like Jang.

In 1960, Wells Fargo merged with American Trust Company. That same year, Jang was promoted to assistant cashier of the bank’s Chinese Department. Jang moved to the bank’s Broadway-Grant branch in San Francisco’s Chinatown, serving as assistant manager from 1965 to 1971 and manager from 1971 to 1975. While manager, he developed the Chinese translation of the Wells Fargo name that is still used today. He retired in 1975, and lived for several decades in service to his community before passing away in 2005.

Alyssa Bentz

Alyssa Bentz is a Corporate Historian for Wells Fargo.

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