Fifth Third Bank has partnered with NextJob, a nationwide reemployment solutions company, to offer an industry-first program that gives unemployed mortgage borrowers job search assistance, including one-on-one dedicated coaching, weekly webinars and online job search software, fully paid for by Fifth Third Bank.
Fifth Third Bank is the first financial institution to offer this type of assistance to mortgage customers.
Fifth Third Bank offers this program to mortgage borrowers who are in serious risk of default. The Bank champions the initiative because it understands that up to half of mortgage delinquencies are due to job loss. With NextJob, the Bank recognized an opportunity to assist its customers by paying for specific, one-on-one training that helps people identify their transferable job skills and regain the financial stability of a new job.
John Courtney, CEO of NextJob, said, "Fifth Third Bank has demonstrated an inspiring level of customer commitment. The company understood that neither party benefits from a foreclosure. Job loss, followed by the loss of one's home, is severely damaging to individuals and families. This program is a simple, but big idea and its time has come for the banking industry."
NextJob's service features three parts that work cohesively to help borrowers find meaningful employment: one-on-one job coaching, job search software featuring nine modules, and Job Talk, a weekly webinar on a critical job search topic.
One of the program's successful participants, now working in the insurance industry said, "I just want to say how much I enjoyed working with my coaches. If it hadn't been for their work helping me, I probably would still be unemployed. They gave me such hope and empowered me in ways I never would have used on my own. My self-esteem was very low when I first started working with NextJob, and they were able to make me see that there was a position out there for me if I only believed in myself again and used the tools of NextJob to help me. If for some reason I am back unemployed, it won't be for long because of what I learned with NextJob."
Another participant said, "I was in the first group of people in the program offered by Fifth Third Bank. I have to say that I feel so fortunate to have been a part of the program. I learned so much and got so much out of the program. I really hope the program continues so it can help others like me. The knowledge one gains from the program is immeasurable."
Headquartered in Bend, Oregon, NextJob is a nationwide firm focused on full employment in America. Founded on the Golden Rule, its mission is to provide creative reemployment solutions for employers, lenders, government and others to help job seekers land jobs and avoid the many impacts of unemployment. NextJob's service provides high quality, one-on-one job coaching and multimedia online learning that is highly effective, affordable and accountable. To learn more, visit www.nextjob.com.