Fifth Third Commits $8.75 Million to Address Effects of COVID-19
Philanthropic Funds to Focus on Relief, Recovery and Resiliency Efforts
March 20, 2020 – CINCINNATI–(BUSINESS WIRE)–Fifth Third today announced an $8.75 million philanthropic commitment to help address the effects of the COVID-19 pandemic. The funds from the Fifth Third Foundation and the Fifth Third Chicagoland Foundation will be deployed to meet the immediate and long-term needs of the communities served by Fifth Third Bank.
“We are making this $8.75 million philanthropic commitment to support the needs of our community members,” said Greg D. Carmichael, chairman, president and CEO of Fifth Third Bank. “This pandemic is impacting all segments of the population, especially the most vulnerable members of our communities who may be disproportionately affected by current events. It is our responsibility and commitment to work with community partners and non-profit organizations to help see our communities through the coming stages of relief, recovery and resiliency. We will navigate this together.”
The $8.75 million commitment is being funded by the Fifth Third Foundation and the Fifth Third Chicagoland Foundation. Among the areas to be funded:
$3.25 million for COVID-19 response needs in the regions served by Fifth Third Bank.
Recovery & Resiliency Funds:
$5.5 million in Strengthening our Communities Fund grants to support the long-term sustainability of our economy. This includes funding to support small businesses, affordable housing and homeownership, and economic development.
This $8.75 million commitment of philanthropic funds from the Fifth Third Foundation and the Fifth Third Chicagoland Foundation are in addition to actions already taken by Fifth Third Bank to immediately assist customers in the wake of the pandemic. For information, visit www.53.com/covid19.
About the Fifth Third Foundation
Established in 1948, the Fifth Third Foundation was one of the first charitable foundations created by a financial institution. The Fifth Third Foundation supports worthy causes in the areas of health and human services, education, community development and the arts in the states where Fifth Third Bank operates.
SOURCE: Fifth Third Bank.