Fifth Third Exceeds $180 Million Commitment to Empowering Black Futures Program, Publishes Inaugural Community Impact Report
Focus on Creating Economic Mobility, Building Inclusive Infrastructure
CINCINNATI, November 14, 2023 /3BL/ - 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.
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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