Fifth Third Bank

News Release

 

Fifth Third Bank Introduces Homeowner Plus Value Package

6/08/10

Package designed to help customers pay down mortgage faster

Fifth Third Bank announced today the introduction of its Homeowner Plus Value Package, designed to address the cost of homeownership and help customers pay down their Fifth Third mortgage or Easy Home Refi loan sooner. Package account holders receive an automatic payment of $25 toward the principal balance for every 2,500 credit and debit rewards points earned, resulting in interest savings and fewer mortgage payments.

“Over the past year and a half, we have introduced a number of new products and packages designed to address a variety of short-term financial needs as well as long-term financial goals, such as paying off your mortgage,” said Ray Webb, senior vice president and head of Retail Banking. “The change in our account offerings reflects a more holistic approach to our conversations and relationships with customers. The Homeowner Plus Value Package lets the customer’s checking, debit and credit accounts work together to deliver value.”

The Homeowner Plus Value Package includes the following products:

  • Secure Checking Package
  • Fifth Third Mortgage or Easy Home Refi
  • Fifth Third Homeownership Plus Value Credit Card.
  • Fifth Third Gold Debit Card with Homeowner Plus Value Package Rewards.

The Package Credit Card earns two points for every one dollar spent at home improvement and home furnishing companies and one point for every one dollar spent on all other purchases. The Package Debit Card also includes an upgrade in points – one point for every one dollar spent.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $113 billion in assets, operates 16 affiliates with 1,309 full-service Banking Centers, including 102 Bank Mart® locations open seven days a week inside select grocery stores and 2,362 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2010, had $190 billion in assets under care, of which it managed $25 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® National Global Select Market under the symbol "FITB."