Fifth Third Convenes National Community Advisory Forum to Fulfill $30 Billion Commitment Pledge
05/15/17
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 President and CEO The Institute of Minority Economic Development Durham, North Carolina |
Carolyn E. Mosby President & CEO Midstates Minority Supplier Diversity Council Indianapolis, Indiana |
| Kay Bowers Executive Director New Level Community Development Corporation Nashville, Tennessee |
Susan Porciau Director of Homeless Training and Technical Assistance Florida Housing Coalition St. Petersburg, Florida |
| S. Barbara Busch Executive Director of Housing Development Working in Neighborhoods Cincinnati, Ohio |
Keith Rachey Senior Vice President & COO Community Reinvestment Fund USA Minneapolis, Minnesota |
| Kimberlee R. Cornett Social Investment Practice Managing Director The Kresge Foundation Troy, Michigan |
Dory M. Rand President Woodstock Institute Chicago, Illinois |
| Catherine Hope Crosby Executive Director City of Dayton Human Relations Council Dayton, Ohio |
Mary Fran Riley Senior Vice President for External Affairs Accion Chicago Chicago, Illinois |
| Kevin L. Dunlap Executive Director REBOUND, Inc. Louisville, Kentucky |
J. Jacob Sipe Executive Director Indiana Housing and Community Development Authority Indianapolis, Indiana |
| Kate S. Little President & CEO Georgia Advancing Communities Together, Inc. Atlanta, Georgia |
John Taylor President & CEO National Community Reinvestment Coalition Washington, D.C. |
| Inez Long President & CEO BBIF Florida Orlando, Florida |
Chris Uhl Vice President of Community Investments Rock Ventures, LLC (A Quicken Loan Company) Detroit, Michigan |
| Mark J. McDermott Vice President, Ohio Market Leader Enterprise Community Partners Cleveland, Ohio |
Eric Watson President & CEO Carolinas Virginia Minority Supplier Development Council 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.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of December 31, 2016, the Company had $142 billion in assets and operates 1,191 full-service Banking Centers, and 2,495 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 a 17.9% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2016, had $315 billion in assets under care, of which it managed $31 billion for individuals, corporations and not-for-profit organizations through its Trust and Brokerage 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.”