Fifth Third Bancorp Announces Contract with EverFi to Provide Financial Education, Entrepreneurship Classes to High School Students throughout its Footprint
New Alliance Represents Key Component of Bank’s Recently Announced $30 Billion Community Commitment
Cincinnati - Today, Fifth Third Bancorp and EverFi announced a multi-year contract that will enable Fifth Third to offer financial education and entrepreneurship classes to high school students located within the 10 states where the Bank operates retail branches.
“Fifth Third has made an incredible commitment to improve the financial capability of teens all across the communities it serves,” said Ray Martinez, co-founder and president of EverFi’s Financial Education Division. “Its groundbreaking investment will provide students and teachers with our digital learning technology and a national network of educators for training and professional development. We are excited to bring this innovative and hands-on approach to students. We applaud Fifth Third as it continues to transform the lives of young people by empowering them to invest in their financial health.”
EverFi powers financial education in a national education network of K-12 public schools, colleges and universities, and in community-based organizations committed to equipping millions of students annually with the knowledge and skills they need to make important financial decisions. With a national on-the-ground team of community leaders and former teachers partnering in schools across the country, EverFi delivers innovative, mobile-ready technology using gamification and personalized learning that focuses on increasing knowledge and preparedness around financial well-being.
Since 2004, Fifth Third has been a leader in delivering financial empowerment programming to individuals at all ages and stages of life through its own signature programming as well as key sponsorships in its markets. The EverFi contract will allow Fifth Third to deliver financial education to 150,000 high school students annually.
Fifth Third’s high school program will offer a combination of foundational financial education and business finance courses to students throughout Ohio, Indiana, Kentucky, Illinois, Michigan, Florida, Tennessee, North Carolina, Georgia and West Virginia. Courses also will be delivered through scholarships and in collaboration with non-profit organizations with deep community ties. Financial education for teens is deeply connected to Fifth Third Bank’s recent commitment to invest $30 billion in the communities it serves. The program, announced on Nov. 18, 2016, includes $158.4 million in Fifth Third Impact Initiatives, many of which center around financial empowerment and improving personal financial capability in communities.
“Our new program is consistent with our strategy and commitment to improve lives and invest in our community,” said Fifth Third Executive Vice President Brian Lamb, who oversees community relations, among other functions. “The customized program will enhance students’ experience as they learn critical life skills. Through it, we expect to generate the positive impact we desire while serving our communities the way they expect as a result of our public community commitment.”
Lamb expanded on the program details: “Our new, student-centric high school financial empowerment program serves high school students in their classrooms, in their communities and through scholarships—and is available at their fingertips on their tablets and mobile phone. We are going to put the power of our own financial expertise to work through these programs and will facilitate the evaluation of the students’ progress to ensure they have the knowledge they need at the course’s conclusion and can apply it in their adult lives.”
Fifth Third’s new high school financial education program will be available for 2017-2018 school year. It is highly digitized and interactive to allow students to personally engage with and learn in the dynamic environment with which they have grown accustomed. It includes a method of measuring progress and learning, and it ends with a Fifth Third Post-High School Financial Road Map. The program will be embedded into high school curricula, is aligned with state and national standards, and EverFi’s high school financial education program, which is a part of Fifth Third’s new program offering, is a Consumer Financial Protection Bureau (CFPB) recommended resource. It does not promote any of the Bank’s services.
Fifth Third Bank’s L.I.F.E. (Lives Improved through Financial Empowerment®) programs deliver personal finance education to individuals in the community at every age and stage of life. Its Fifth Third Bank Young Bankers Program® is offered to fifth-grade students. The 12-course Fifth Third Bank Empower U® program is for adults in the community. Many of the Bank’s financial education offerings are available on the Fifth Third Financial Empowerment Mobiles, or eBuses, that travel in low- and moderate-income and/or high minority communities annually.
About EverFi, Inc.
EverFi, Inc. is the education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in life. Its comprehensive critical skills platform is focused on Financial Education, Digital Citizenship, STEM Career Readiness, Diversity and Inclusion, Entrepreneurship, Character Education, and Health and Wellness. The EverFi Education Network is powered by more than 3,300 partner organizations across all 50 states and Canada and annually reaches 6 million learners. Learn more at everfi.com.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company had $143 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,497 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. Fifth Third also has an 18.3 percent interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of Sept. 30, 2016, had $314 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. 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.