CINCINNATI—Fifth Third Bank, National Association, announced today that it is partnering with Steady and its innovative application to help the Bank's customers find work and maximize their earnings opportunities. The partnership is one of the Bank's initiatives to assist people who are experiencing financial hardship due to the COVID-19 pandemic, a time when more than 44 million unemployment claims have been filed.
"Our role as a bank is to empower our customers to reach their financial goals," said Greg D. Carmichael, chairman, president and CEO of Fifth Third Bank. "We are excited to partner with Steady to connect our customers with additional resources and income opportunities, and to help them continue to move towards achieving their goals, even in times of financial hardship that many are experiencing with the current pandemic."
Steady offers an application that allows consumers to build a profile, enter their skills, and set work preferences like geography, work hours, and pay rate. They are then matched with job opportunities that might be a good fit and can apply to those positions online.
"There is no doubt that our two million members face daunting financial challenges, driven by a massive COVID-19-driven increase in the unemployment and underemployment of both W-2 and 1099 workers," said Steady Co-Founder and CEO Adam Roseman. "And while the CARES Act has addressed near-term financial challenges of many, but certainly not all, many workers will face significantly enhanced turbulence after expanded unemployment insurance payouts expire on July 31. That’s why solid partnerships between financial institutions like Fifth Third Bank and Steady's income enhancing tools are critical in helping workers deal with economic uncertainties."
In addition to the Steady partnership, Fifth Third is also making its NextJobs Job Seekers Toolkit available to the public through January 2021, and Operation HOPE's financial coaching services to individuals and small businesses. Fifth Third initiated its partnership with NextJobs in 2012. Its Toolkit is an educational resource for those looking to enter the job market or to secure a better job opportunity. It offers lessons and video advice from job-search experts, hiring managers and job seekers, as well as additional tools and activities. Operation HOPE offers financial wellbeing coaches provide advice on financial recovery, such as assistance with CARES Act qualifications, debt deferment, credit counseling, recovery budgets, and guidance obtaining small business loans and referrals for recovery support.
For more information on Steady and how Fifth Third is helping customers impacted by COVID-19, visit www.53.com/covid.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2020, Fifth Third had $185 billion in assets and operated 1,123 full-service banking centers and 2,464 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2020, had $374 billion in assets under care, of which it managed $42 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory 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. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.
Launched in 2018, Steady puts tools into the hands of American workers to help them solve their increasing income challenges caused by massive challenges due to the impact of COVID-19, wages not keeping up with costs of living, the reduction of available work hours at employers due to their driving efficiencies, and future job loss due to automation. Steady makes it easier for workers to fill their income gaps, gain insights that help increase earnings, and improve their overall financial well-being. To date, the Steady app has been downloaded more than 2.7 million times. The Steady app can be downloaded for free from the App Store and Google Play.