CINCINNATI—Fifth Third today announced an $8.75 million philanthropic commitment to help address the effects of the COVID-19 pandemic. The funds from the Fifth Third Foundation and the Fifth Third Chicagoland Foundation will be deployed to meet the immediate and long-term needs of the communities served by Fifth Third Bank.
Committing to Impacted Communities
“We are making this $8.75 million philanthropic commitment to support the needs of our community members,” said Greg D. Carmichael, chairman, president and CEO of Fifth Third Bank. “This pandemic is impacting all segments of the population, especially the most vulnerable members of our communities who may be disproportionately affected by current events. It is our responsibility and commitment to work with community partners and non-profit organizations to help see our communities through the coming stages of relief, recovery and resiliency. We will navigate this together.”
The $8.75 million commitment is being funded by the Fifth Third Foundation and the Fifth Third Chicagoland Foundation. Among the areas to be funded:
Relief Funds:
- $3.25 million for COVID-19 response needs in the regions served by Fifth Third Bank.
Recovery & Resiliency Funds:
- $5.5 million in Strengthening our Communities Fund grants to support the long-term sustainability of our economy. This includes funding to support small businesses, affordable housing and homeownership, and economic development.
This $8.75 million commitment of philanthropic funds from the Fifth Third Foundation and the Fifth Third Chicagoland Foundation are in addition to actions already taken by Fifth Third Bank to immediately assist customers in the wake of the pandemic. For information, visit www.53.com/covid19.
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 December 31, 2019, Fifth Third had $169 billion in assets and operated 1,149 full-service banking centers and 2,481 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 December 31, 2019, had $413 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.