Fifth Third Collaborates with NeighborWorks America to Prevent Foreclosures and Evictions
October 07 2020 - 12:03PM
Business Wire
Collaboration includes foreclosure mitigation,
eviction prevention and financial counseling to those in need
The Fifth Third Foundation today announced a collaboration with
NeighborWorks America to support efforts addressing the impacts of
COVID-19 in local communities across 18 NeighborWorks America
network organizations located throughout Fifth Third’s 10-state
footprint.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20201007005802/en/
Byna Elliott, senior vice president and
chief enterprise responsibility officer, Fifth Third Bank (Photo:
Business Wire)
The $600,000 collaboration, which will be funded through The
Fifth Third Foundation’s COVID-19 relief, recovery and resiliency
funds, will assist the network organizations’ efforts to prevent
foreclosures and evictions; assist with the impacts from the
COVID-19 pandemic in communities; respond to critical needs;
provide foreclosure and eviction mitigation and counseling; and
financial coaching and emergency rental assistance for clients, as
well as homeownership counseling and education.
“The pandemic has for many severely affected their ability to
meet the basic human need of having shelter over their heads,” said
Byna Elliott, senior vice president and chief enterprise
responsibility officer, Fifth Third Bank. “These funds will help
people stay in their homes and provide them with the necessary
financial coaching to assist them in establishing stability.”
According to UC Berkley’s Terner Center for Housing, nearly 16.5
million renter households have at least one worker in an industry
likely to be immediately affected by efforts to flatten the curve
in the COVID-19 pandemic. That means nearly 50 million people who
live in a renter household are likely experiencing immediate job or
income losses. Persons of color and low-income households have been
identified as the most vulnerable to the impact of the
pandemic.
“We are pleased to join forces with Fifth Third as we provide
this vital support to our network organizations and increase their
capacity to impact the communities they serve as people continue to
endure the effects of the pandemic,” said John Santner, regional
vice president, Midwest Region of NeighborWorks America. “The
support from the Fifth Third Foundation will continue to help us in
our mission of creating opportunities for people to live in
affordable homes, improve their lives and strengthen their
communities here in the Midwest and in areas of our Southern
Region.”
Since March, 82 non-profit organizations have received $7.1
million of Fifth Third’s $8.75 million COVID-19 relief, recovery
and resiliency funds. The funds have been used for COVID-19 food
assistance, medical supplies, small businesses, operations and
servicing low-to-moderate income individuals. $1.3 million has been
disbursed in housing assistance. To learn more about how Fifth
Third is helping its employees, customers and communities during
the pandemic, please visit www.53.com/covid19. To learn more about
NeighborWorks America, please visit www.neighborworks.org.
About the Fifth Third Foundation
Established in 1948, the Fifth Third Foundation was one of the
first charitable foundations created by a financial institution.
The Fifth Third Foundation supports worthy causes in the areas of
health and human services, education, community development and the
arts in the states where Fifth Third Bank operates.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio and the indirect parent company
of Fifth Third Bank, National Association, a federally chartered
institution. As of June 30, 2020, Fifth Third had $203 billion in
assets and operated 1,122 full-service banking centers and 2,456
ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and
North Carolina. In total, Fifth Third provides its customers with
access to approximately 53,000 fee-free ATMs across the United
States. Fifth Third operates four main businesses: Commercial
Banking, Branch Banking, Consumer Lending and Wealth & Asset
Management. Fifth Third is among the largest money managers in the
Midwest and, as of June 30, 2020, had $405 billion in assets under
care, of which it managed $49 billion for individuals, corporations
and not-for-profit organizations through its Trust and Registered
Investment Advisory businesses. Investor information and press
releases can be viewed at www.53.com. Fifth Third’s common stock is
traded on the Nasdaq® Global Select Market under the symbol “FITB.”
Fifth Third Bank was established in 1858. Deposit and Credit
products are offered by Fifth Third Bank, National Association.
Member FDIC.
About NeighborWorks America
For more than 40 years, Neighborhood Reinvestment Corp., a
national, nonpartisan nonprofit known as NeighborWorks America, has
strived to make every community a place of opportunity. Our network
of excellence includes more than 240 members in every state, the
District of Columbia and Puerto Rico. NeighborWorks America offers
grant funding, peer-exchange, technical assistance, evaluation
tools and access to training, as the nation's leading trainer of
housing and community development professionals. NeighborWorks
network organizations provide residents in their communities with
affordable homes, owned and rented; financial counseling and
coaching; community building through resident engagement; and
collaboration in the areas of health, employment and education.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201007005802/en/
Danielle Jones (Fifth Third Bank, Media Relations)
Danielle.Jones@53.com | 513-534-0162
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