The Community Impact Report is an update on the Fifth Third Empowering Black Futures neighborhood program and the ways in which Fifth Third is delivering on its priorities to build strong communities and promote inclusion. With its community partners, Fifth Third is working to address the housing crisis, lift up small businesses, create inclusion in the traditional financial system and in the workforce, and fill gaps in education.
Neighborhoods Program
Announced in October 2021, the $180 million program will invest up to $20 million into each of nine select neighborhoods within the Bank’s footprint that have suffered from disinvestment, wealth extraction and income disparities due to racial inequalities. The three-year program will deliver comprehensive support to the neighborhoods to revitalize and boost the economic mobility of Black residents. Across each of the nine neighborhoods, the program seeks to:
- Create more equitable, connected systems.
- Improve upward mobility among Black residents.
- Build an inclusive civic infrastructure.
- Promote prosperous, small Black-owned businesses.
- Develop healthy, built environments.