Fifth Third Exceeds $180 Million Commitment to Empowering Black Futures Program, Publishes Inaugural Community Impact Report
November 14 2023 - 9:00AM
Business Wire
Focus on Creating Economic Mobility, Building
Inclusive Infrastructure
Fifth Third Bank, National Association, today announced that its
Empowering Black Futures Neighborhood Program has in two years
already exceeded the program’s $180 million, three-year commitment.
The program has invested $187 million in nine low-to-moderate
income neighborhoods that have experienced disinvestment. Fifth
Third also is extending technical assistance related to the program
by an additional year, through 2025, to ensure continued, sustained
impact and progress.
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In East Tampa, several initiatives
including home repairs, community cleanups, and neighborhood
revitalization efforts were undertaken to preserve the legacy of
homeownership in the Tampa community. (Photo: Business Wire)
Fifth Third announced comprehensive updates for the
neighborhoods, along with progress on additional initiatives to
drive transformation in low-to-moderate income areas, in its
inaugural Community Impact Report.
The Community Impact Report illustrates Fifth Third’s commitment
to building stronger communities and promoting inclusion by
partnering directly with individuals in those communities to
achieve their plans. Fifth Third’s Empowering Black Futures
Neighborhood program effort has five key goals: to create equitable
connected systems; improve upward mobility among residents; build
inclusive civic infrastructure; promote prosperous small
businesses; and develop healthy built environments.
“We’ve been intentional about working with our community
stakeholders over the past several years,” said Jada Grandy-Mock,
senior vice president and chief community impact officer. “These
partnerships have enabled us to pioneer a new model for how we
create pathways for economic mobility in low-to-moderate income
areas. It’s not just about capital infusion, products and services,
but about making connections and bringing the right partners to the
table. We’re excited about having a report of sharing our impact in
the community across our footprint.”
Fifth Third collaborated with Enterprise Community Partners and
key community organizations in each of the neighborhoods to foster
implementation of community-driven economic mobility plans.
“It’s been a distinct privilege to work with Fifth Third on
their transformative neighborhood program,” said Jacqueline
Waggoner, president, solutions division, Enterprise Community
Partners. “This program represents a unique and innovative
approach, and they are leading it in every way. It’s not just their
significant financial investments that are making a difference.
Their local teams are on the ground helping to lead and contribute
to the development of sustainable, community-driven solutions.”
“We’re in the business of financing and fostering sound
community development,” said Keith Burgess, head, Community
Development Banking Group. “By focusing on our efforts on
historically underserved neighborhoods, our work is having a
lasting impact on the people and small businesses who are the
backbone of healthy communities.”
The nine neighborhoods are: Avondale in Cincinnati, Ohio; South
Chicago in Chicago, Illinois; Buckeye in Cleveland, Ohio; East
Tampa in Tampa, Florida; Grove Park in Atlanta, Georgia; Arlington
Woods in Indianapolis, Indiana; West End in Charlotte, North
Carolina; Near East Side in Columbus, Ohio, and Russell in
Louisville, Kentucky.
To read the Community Impact Report in full, visit
www.53.com/CIR.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on
history. Since 1858, we’ve been helping individuals, families,
businesses and communities grow through smart financial services
that improve lives. Our list of firsts is extensive, and it’s one
that continues to expand as we explore the intersection of
tech-driven innovation, dedicated people and focused community
impact. Fifth Third is one of the few U.S.-based banks to have been
named among Ethisphere’s World’s Most Ethical Companies® for
several years. With a commitment to taking care of our customers,
employees, communities and shareholders, our goal is not only to be
the nation’s highest performing regional bank, but to be the bank
people most value and trust.
Fifth Third Bank, National Association, is a federally chartered
institution. Fifth Third Bancorp is the indirect parent company of
Fifth Third Bank and its common stock is traded on the NASDAQ®
Global Select Market under the symbol "FITB." Investor information
and press releases can be viewed at www.53.com. Deposit and credit
products provided by Fifth Third Bank, National Association. Member
FDIC.
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Tiffaney Hardy (Media Relations) tiffaney.hardy@53.com |
513-534-8039
Matt Curoe (Investor Relations) Matt.Curoe@53.com |
513-534-5100
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