Fifth Third Convenes National Community Advisory Forum to Fulfill $30 Billion Commitment Pledge

The Fifth Third Bancorp national Community Advisory Forum. (Photo: Business Wire)

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CINCINNATI--()--Fifth Third Bancorp convened the inaugural meeting of its newly-formed national Community Advisory Forum (CAF) on May 12. Later this month, Fifth Third will convene five regional community advisory forums in Florida, Illinois, Michigan, North Carolina and Ohio.

The convening of the Community Advisory Forums, or CAFs, fulfills a key promise made in Fifth Third’s $30 billion community commitment. The five-year plan is designed to make a long-lasting positive impact in the lives of individuals within communities served by Fifth Third, particularly those in low- and moderate-income neighborhoods. The commitment includes mortgage lending, small business lending, micro-lending, community development lending and investments, as well as Fifth Third Impact Initiatives, including philanthropy, financial empowerment programming, branches and staffing, and inclusion and diversity. Fifth Third invested $7.88 billion, or 26.3 percent, of the commitment in 2016, as announced in its first-year results report.

Fifth Third’s national CAF is chaired by Fifth Third Bancorp Executive Vice President Brian Lamb. It has 18 members who will meet three times per year. The first meeting was held in the Bank’s headquarters city of Cincinnati, Ohio. The five regional CAFs consist of 75 community leaders and meet twice per year. They are chaired by Fifth Third’s regional community and economic development managers.

The CAFs continue a long-standing tradition of Fifth Third’s engagement with community leadership. Over the course of 2016, Fifth Third leadership held 154 community engagement sessions, with the majority of those conducted with organizations affiliated with the National Community Reinvestment Coalition.

“Convening our community advisory forums is a strategic part of how Fifth Third is keeping the customer at the center of everything we do,” said Lamb. “The members of our national and regional forums represent our 10 Consumer Bank states and their work in our communities will help guide our actions to ensure we are best meeting their needs.”

Lamb continued, “When we made our $30 billion community commitment, we pledged to assemble advisory forums and work with community leadership to affect positive change. Fulfilling this pledge brings together a national CAF with a combined 470 years of experience in community development. We are poised to accomplish great things together.”

Dory Rand, president of Woodstock Institute, a financial justice research and policy nonprofit based in Chicago, said, “I am excited to participate in Fifth Third’s national Community Advisory Forum because their $30 billion community commitment, which Woodstock and the National Community Reinvestment Coalition helped develop, will result in significant investments in and benefits to underserved low- and moderate-income communities, including new branches and increased small business lending. All of this will help create jobs and provide needed community amenities.”

The members of the national CAF include:

     
Farad Ali Carolyn E. Mosby
President and CEO President & CEO
The Institute of Minority Economic Development Midstates Minority Supplier Diversity Council
Durham, North Carolina Indianapolis, Indiana
 
Kay Bowers Susan Porciau
Executive Director Director of Homeless Training and Technical Assistance
New Level Community Development Corporation Florida Housing Coalition
Nashville, Tennessee St. Petersburg, Florida
 
S. Barbara Busch Keith Rachey
Executive Director of Housing Development Senior Vice President & COO
Working in Neighborhoods Community Reinvestment Fund USA
Cincinnati, Ohio Minneapolis, Minnesota
 
Kimberlee R. Cornett Dory M. Rand
Social Investment Practice Managing Director President
The Kresge Foundation Woodstock Institute
Troy, Michigan Chicago, Illinois
 
Catherine Hope Crosby Mary Fran Riley
Executive Director Senior Vice President for External Affairs
City of Dayton Human Relations Council Accion Chicago
Dayton, Ohio Chicago, Illinois
 
Kevin L. Dunlap J. Jacob Sipe
Executive Director Executive Director
REBOUND, Inc. Indiana Housing and Community Development Authority
Louisville, Kentucky Indianapolis, Indiana
 
Kate S. Little John Taylor
President & CEO President & CEO
Georgia Advancing Communities Together, Inc. National Community Reinvestment Coalition
Atlanta, Georgia Washington, D.C.
 
Inez Long Chris Uhl
President & CEO Vice President of Community Investments
BBIF Florida Rock Ventures, LLC (A Quicken Loan Company)
Orlando, Florida Detroit, Michigan
 
Mark J. McDermott Eric Watson
Vice President, Ohio Market Leader President & CEO
Enterprise Community Partners Carolinas Virginia Minority Supplier Development Council
Cleveland, Ohio

Charlotte, North Carolina

 

More information about the Community Commitment is available in the Company’s 2016 Corporate Social Responsibility Report and at www.53.com/commitment.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2017, the Company had $140 billion in assets and operated 1,155 full-service Banking Centers and 2,471 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 March 31, 2017, Fifth Third also had a 17.8 percent interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2017, had $323 billion in assets under care, of which it managed $33 billion for individuals, corporations and not-for-profit organizations through its Trust, Brokerage and Insurance 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.

Contacts

Fifth Third Bancorp
Stacie Haas, 513-534-5113
Stacie.Haas@53.com

Release Summary

Fifth Third Bancorp convenes National Community Advisory Forum fulfilling promise made in $30 billion Community Commitment

Contacts

Fifth Third Bancorp
Stacie Haas, 513-534-5113
Stacie.Haas@53.com