Fifth Third Exceeds Five-Year Community Commitment, Achieves $41.6 Billion in Support Against $32 Billion Goal - Seite 3

Community development lending and investments: $11.5 billion

Fifth Third has funded $11.5 billion in community development lending and investments since 2016, including $1.1 billion in affordable lending and revitalization projects through the Fifth Third Community Development Corp., against a goal of $9.6 billion. Fifth Third helped transform the Detroit neighborhood of Gratiot/7 Mile, known as G7, through a $5 million investment in parks, streetscapes, commercial corridors, single family housing and affordable housing.

The Fifth Third CDC invests in projects that revitalize communities, create affordable housing and restore historic buildings, including Hope Manor, the new construction of 36 affordable housing units for veterans, the disabled and homeless in Chicago. The Hope Manor investment was part of a recently announced $100 million in projects that the CDC will invest through Opportunity Zone partners.

Fifth Third Impact Initiatives and Programming: $378 million

Fifth Third has made $112.9 million in Community Commitment-related grants since 2016 against a goal of $99.1 million. The grants supported all aspects of community development, including affordable housing, workforce development, neighborhood stabilization and small business support as well as other areas. In response to the COVID-19 pandemic, Fifth Third made $8.75 million in relief, recovery and resiliency grants across its footprint.

The Bank also worked to support communities through specific programming and Fifth Third-led initiatives. Over 2.6 million people of all ages have been educated through Fifth Third’s financial empowerment programs, including Fifth Third Finance Academy and the newly revamped Young Bankers Club. The Bank’s eBus takes financial services and education directly into communities. Over the past five years, the eBus served over 78,000 attendees at financial education and workforce development events. Fifth Third also continued its collaboration with NextJob to provide vital job training and coaching to unemployed and underemployed community members. Fifth Third’s supplier diversity spending has increased from $18.4 million in 2016 to $75.4 million in 2020.