Finance Academy to Empower Thousands with
Critical Knowledge about Personal Finance and
Entrepreneurship
Fifth Third Bank is launching Finance Academy, a new financial
and entrepreneurship education program. The Bank is collaborating
with education technology company, EVERFI, Inc., to launch Finance
Academy throughout its 10-state footprint and expects to educate
150,000 students in its first full year.
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Brian Lamb, executive vice president and
Corporate Social Responsibility and Reputation Officer, Fifth Third
Bancorp (Photo: Business Wire)
With its mission to improve lives through financial education,
Finance Academy is a key part of Fifth Third’s $30 billion
Community Commitment plan. Finance Academy is a Fifth Third
L.I.F.E. (Lives Improved through Financial Empowerment®) program,
which will deliver interactive online financial education at no
cost to schools or taxpayers.
“Fifth Third is committed to growing the financial knowledge of
students so that they can successfully manage their lives,” said
Brian Lamb, executive vice president and chief corporate social
responsibility and reputation officer, Fifth Third Bancorp. “As
high school students are entering the life stage in which they’re
making financial decisions, it’s important that we play a role in
that. This is part of who we are. It’s a part of being a Fifth
Third better. And it is exactly what will make a long-lasting,
positive difference in the communities we serve.”
By the time many Americans reach adulthood, they have already
experienced the burden of financial stress. Research shows that 95%
of parents agree that students should learn about personal finance
in school.1 These statistics support the need for Finance Academy,
where all students have an equal opportunity to learn essential
financial skills.
Fifth Third aims to reach 150,000 students annually through two,
web-based courses offered as part of Finance Academy. The financial
literacy course is a series of 30-45 minute financial education
modules, covering topics like investing basics and common financial
accounts. Each course module provides bite-sized instructional
animations that make the topics approachable and relatable to
students. In addition, Finance Academy will immerse students in
real-life financial scenarios and documentation, such as filling
out a FAFSA form.
Through its Venture course, Finance Academy builds and empowers
the next generation of business owners and entrepreneurs by guiding
them through the creation of a business plan—from idea generation
to taking a business to market to sustainable business practices
for growth.
“Entrepreneurs who establish and run small businesses are the
future and a key driver of healthy economies,” said Kala Gibson,
senior vice president and head of Business Banking at Fifth Third.
“It’s just as important to build financial capability around their
future careers as it is to build basic financial skills. If small
business owners are successful, they are empowered to improve their
business and the lives of their employees, and in turn, their
communities.”
The course technology of Finance Academy uniquely tracks the
progress of each student. They are assessed before, during and
after the course to ensure financial proficiency. While students
are on their computers and mobile devices learning, teachers get
real-time student score reports, supplemental offline lesson plans,
detailed standards alignment guides, answer keys for all
assessments and discussion guides. Additionally, the learning
doesn’t end when the courses do. Fifth Third has built programming
and outreach— called “Financial Empowerment Days”—into the program
offering. On Financial Empowerment Days, employee volunteers visit
schools and classrooms to lead continued education experiences.
High School administrators and teachers who are interested in
implementing Finance Academy in their classroom or district can
visit http://financeacademy.53.com.
Since 2004, Fifth Third Bank has been a leader in the delivery
of financial empowerment programs in the communities it serves.
Fifth Third’s L.I.F.E. programs reach and help guide kids and
adults through every life stage and arms them with the knowledge
and tools needed to make wise financial decisions. Fifth Third’s
$30 billion Community Commitment is a community development plan in
which Fifth Third has pledged to invest and lend more than $30
billion in its communities through 2020. As of June 30, 2017, Fifth
Third has delivered $11.93 billion in Community Commitment support,
ahead of pace at 40 percent of its five-year goal.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of June 30, 2017, the Company
had $141 billion in assets and operated 1,157 full-service Banking
Centers and 2,461 ATMs in Ohio, Kentucky, Indiana, Michigan,
Illinois, Florida, Tennessee, West Virginia, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial
Banking, Branch Banking, Consumer Lending, and Wealth & Asset
Management. As of June 30, 2017, Fifth Third also had a 17.7
percent interest in Vantiv Holding, LLC. Fifth Third is among the
largest money managers in the Midwest and, as of June 30, 2017, had
$330 billion in assets under care, of which it managed $34 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. Member FDIC, Equal Housing Lender.
About EVERFI
EVERFI, Inc. is the leading education technology company focused
on teaching, assessing, and certifying K-12 and college students in
the critical skills they need for life. The company teams with
major corporations and foundations to provide the programs at no
cost to K-12 schools. Some of America’s leading CEOs and venture
capital firms are EVERFI investors including Amazon founder and CEO
Jeff Bezos, Twitter founder Evan Williams, and Google Chairman Eric
Schmidt. Learn more at everfi.com.
1EVERFI, Inc. survey of parents, 2016.
http://info.everfi.com/rs/410-YCZ-984/images/FamilyFinancialCapability_Whitepaper10_14.pdf.
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Fifth Third BankStacie Haas,
513-534-5113513-534-NEWS
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