Fifth Third to Teach Free Financial Education Courses in Communities
Empower U® classes to be offered through local organizations
Cincinnati, August 1, 2016 – Fifth Third Bank today announced a first-ever, company-wide initiative to deliver its Empower U® financial literacy courses throughout its 10-state footprint. The Empower U initiative brings Fifth Third together with more than 60 local nonprofit organizations in outreach to nearly 3,000 individuals in the communities it serves.
According to a recent study commissioned by Fifth Third, more than 40 percent of Americans feel they could benefit from professional advice about their day-to-day finances. Empower U, one of the Bank’s signature L.I.F.E. (Lives Improved through Financial Empowerment®) programs, is designed to do just that.
“Sound financial management is integral to success in life,” said Greg D. Carmichael, president & CEO of Fifth Third Bank. “It’s why we are committed to financial empowerment in the communities we serve, and why, in 2012, we developed our Empower U L.I.F.E. program for the employees of our business clients. This effort marks Empower U’s first and most significant move into the community. Our employees are excited to teach these classes and Fifth Third is proud to make them available at no cost. I’d like to personally thank the community organizations working with us to make this possible. This is truly a private-public collaboration to empower participants and improve their lives.”
In August, Fifth Third will offer five of its core Empower U classes: Financial Checkup 101, Budgeting & Savings, Boost Your Credit Score, Preparing for Homeownership, and Protecting Your Identity. Classes will be taught by professionals from Fifth Third’s Consumer Bank, Membership Advantage, Mortgage and Community and Economic Development (CED) departments.
All class participants will receive a personalized Empowerment Plan as well as the opportunity to meet for a free, 30-minute consultation with a Fifth Third banker to discuss individualized financial advice.
A leader in financial empowerment, Fifth Third Bank provides its L.I.F.E. (Lives Improved through Financial Empowerment®) programs at no cost to individuals at all ages and stages of life. Fifth Third’s L.I.F.E. programs include:
Young Bankers Club®: The Fifth Third Bank Young Bankers Club introduces financial concepts to fifth-grade students, including foundational knowledge about how money is earned, budgeting and the importance of saving for the future.
Dave Ramsey’s Foundations in Personal Finance®: Fifth Third Bank has sponsored this industry-leading financial curriculum in more than 2,700 high schools in the Bank’s 10-state footprint. The program is taught by school teachers who are aided on video by Dave Ramsey, one of America’s most trusted financial experts, and his team. The course covers saving and budgeting, credit and debt, financial planning and insurance, and income, taxes and giving.
Financial Empowerment Mobiles: Traveling throughout the Bank’s 10-state market, the Fifth Third Financial Empowerment Mobiles, also known as eBuses, reach individuals and neighborhoods in low- and moderate-income neighborhoods. In partnership with community organizations, the eBuses provide credit counseling, job search assistance, tax preparation, budgeting assistance and access to financial products and services.
Empower U®: Empower U is taught by Fifth Third employee volunteers, and classroom topics include identity theft protection, college savings strategies, homeownership achievement and more.
For additional resources, visit www.53.com/empoweru.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2016, the Company has $144 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 over 2,500 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2016, had $305 billion in assets under care, of which it managed $26 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.
SOURCE: Fifth Third Bank