Fifth Third Bank Named a 'Best Adoption-Friendly Workplace in America' by Dave Thomas Foundation for Adoption
Bank one of top 10 in Ohio for adoption assistance offered to employees
Fifth Third Bank has been named to the "Best Adoption-Friendly Workplaces in America" list released today by the Dave Thomas Foundation for Adoption. The Bank ranked in the top 10 in the state of Ohio for adoption assistance offered to employees.
The Dave Thomas Foundation for Adoption is a non-profit public charity dedicated to dramatically increasing the number of adoptions of foster care children in North America. Dave Thomas, founder of Wendy's and an adopted child, created the Foundation in 1992 in support of the vision that every child will have a permanent home and a loving family.
"Even with today's tough economy, we found that companies are dedicated more than ever to providing competitive benefits packages to help their employees when they adopt," said Rita Soronen, executive director of the Foundation. "It is one benefit that employers can add without negatively impacting the bottom line."
"Fifth Third Bank is pleased to be recognized as one of the Best Adoption-Friendly Workplaces in America," said Nancy Phillips, executive vice president, Chief Human Resources Officer at Fifth Third Bank. "This adoption benefit has helped many employees in the past and we hope it helps many more in the decision to extend their family through adoption."
Adoption benefits have been offered to full-time employees of the Bank since 1999. Employees receive up to $5,000 of financial assistance and as much as six days of medical leave, which runs concurrent to current Family Medical Leave Act entitlements.
Those who have participated in the program found the program very beneficial in assisting with their adoption.
"I am grateful for Fifth Third's partnership in my adoption process," said Russ Marshall, assistant vice president and Principal Project Manager with the Bank. "The Bank was there for my family both personally and financially."
Marshall and his wife had two existing biological children approaching their teens and were looking to extend their family. The couple adopted two boys from Guatemala in 2007.
"Knowing that Fifth Third Bank was on our side - both financially and otherwise - helps to ease this burden," said Marshall. "We could then focus on our mission to extend our family and to provide a loving and stable home to children who otherwise had no hope."
Todd and Mary Thorbahn, both employees with the Bank, adopted a child from Russia in 2007. The couple already had one biological child, but wanted to extend their family. Both were pleased with the assistance received through Fifth Third.
"The Bank made a hard process much easier," said Mary Thorbahn, assistant vice president and Assistant Trust Tax Manager with the Bank. "Everyone was very supportive - from assisting with adoption paperwork to making a flexible schedule available."
The couple said the extensive paperwork, which could have been a potential roadblock with references and notarizations, was completed quickly and without problems.
"If you are going to adopt, Fifth Third Bank will support you every step of the way," said Todd Thorbahn, assistant vice president and Lead Business Analyst with the Bank.
Rankings for the Best Adoption Friendly Workplace list are determined by an analysis of a company's adoption benefits - financial reimbursement and paid leave - available to employees who adopt. The Foundation compiled the results from survey data collected from 753 employers from across the country.
The Dave Thomas Foundation for Adoption is a non-profit public charity dedicated to dramatically increasing the number of adoptions of foster care children in North America. Dave Thomas, founder of Wendy's and an adopted child, created the Foundation in 1992 in support of the vision that every child will have a permanent home and a loving family. The Dave Thomas Foundation for Adoption focuses on increasing foster care adoption awareness while supporting model adoption service programs and is committed to ensuring that adoption from the foster care system in streamlined, affordable and accessible to any family wanting to adopt. To learn more about the Foundation's work, go to www.DaveThomasFoundationforAdoption.org.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $119 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers, including 95 Bank Mart(R) locations open seven days a week inside select grocery stores and 2,354 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2009, has $166 billion in assets under care, of which it managed $23 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(R) National Global Select Market under the symbol "FITB."