Fifth Third Bank Expands Community Outreach with Debut of eBus II;
Bank Acquires Second Financial Empowerment Mobile
Cincinnati – Fifth Third Bank today announces the deployment of eBus II, a second mobile financial classroom on wheels, to help meet the financial challenges facing low- and moderate-income communities and high minority neighborhoods. It will debut on Wednesday, August 17th in Detroit, MI.
Since 2004, community partners across Fifth Third’s Midwest and Southeast footprint have joined together with the Bank in offering this unique and innovative solution to meet the financial needs of underserved populations. Both eBuses are 40-foot retrofitted buses equipped with computer workstations with Internet connectivity powered by satellite technology.
The first eBus, which was originally known as the Homeownership Mobile, has operated in over 150 cities for seven years. It was recently renamed the Fifth Third Empowerment Mobile to reflect its expanded mission to not only open access to homeownership opportunities but to bring quality financial counseling and services directly to neighborhoods. The highly sought-after tours of the first eBus identified a need for Fifth Third to expand its services and reach.
Louise Gissendaner, Fifth Third Bank vice president and community outreach manager, said, “The acquisition and deployment of eBus II represents another major technology investment in community outreach and service. The operation of two eBuses enables us to develop deeper, stronger community relationships with financial and homeownership education agencies and enables us to program more days for the buses to operate in critical markets.”
A marquee community development initiative for Fifth Third, the eBuses are mobile classrooms that offer credit counseling, homeownership education, foreclosure prevention, financial education and products to people where they live, work and worship. In addition to helping the Bank fulfill its obligations under the Community Reinvestment Act (CRA), the buses are a means for the Bank to expand access to needed products and services within its markets on a more concentrated basis.
eBus II, like the first eBus, will be staffed with local Fifth Third Bank community development managers, mortgage professionals and retail bankers. They also are staffed by community influencer organizations and tours are arranged with partner community organizations to encourage an informal and relaxed environment for bus guests. Since its first eBus tour in 2004, Fifth Third has partnered with over 925 non-profit and government agencies to serve a diverse population of more than 3.5 million people. Through its eBus initiative, the Bank has better equipped consumers with the skills and tools they need to make informed decisions that contribute to their financial well-being and fulfill their dreams. There is a schedule of eBus and eBus II tour stops available online.
Fifth Third Bank has dedicated itself to financial empowerment. Its signature programming has worked to educate individuals of all ages in the ways of personal finance in order to affect positive change and give people the financial knowledge and access they need to accomplish their personal goals. Fifth Third Bank operates its Young Bankers Club financial literacy education initiative for fifth-grade students and sponsors Dave Ramsey’s Foundations in Personal Finance curriculum for high school students in 1,000 schools throughout its footprint. The Bank also deploys its eBus mobile classrooms to take financial education and access to services into underserved communities.
Fifth Third Bancorp (NASDAQ: FITB) is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $111 billion in assets and operates 15 affiliates with 1,314 full-service Banking Centers, including 103 Bank Mart® locations open seven days a week inside select grocery stores and 2,432 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 Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2011, had $276 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® Global Select Market under the symbol "FITB." Equal Housing Lender. Member FDIC.