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From the Fifth Third Bancorp 2020 ESG Report: Adopting Detroit's G7 Neighborhood

From the Fifth Third Bancorp 2020 ESG Report: Adopting Detroit's G7 Neighborhood

Published 11-17-21

Submitted by Fifth Third Bancorp

Photos and text from Fifth Third's G7 neighborhood engagement

The Gratiot/7 Mile region, known as G7, is Fifth Third’s adopted neighborhood of Detroit. Fifth Third is investing $5 million into the community via Detroit’s Strategic Neighborhood Fund and Affordable Housing Leverage Fund.

Fifth Third was one of five companies to announce such an investment in December 2018. On Fifth Third Day— May 3, 2019—we announced that our neighborhood would be G7.

The $5 million investment is funding physical improvements to parks, streetscapes, commercial corridors, single family housing and affordable housing.

In 2020, Fifth Third provided support to non-profit organizations like LifeBUILDERS, Forgotten Harvest and Gleaners in the emergency phase of the pandemic to ensure that our neighbors in G7 were protected against food insecurity. We also partnered with the local Osbourne Business Association to work with small business owners to help them apply for Paycheck Protection Program and grant funding.

“I grew up going to my grandfather’s pharmacy at Devonshire and Mack Avenue, and my current office at Fifth Third faces Campus Martius,” said David Girodat, regional president of Fifth Third Bank in Eastern Michigan. “I’ve experienced not only what Detroit was, but what it has become—and I know the potential for what it can be. To be supporting this neighborhood rejuvenation is inspirational, both personally and professionally, and it is certainly foundational to Fifth Third’s commitment to improving the well-being of the communities it serves.”

Letty Azar, Detroit’s District 4 neighborhood manager, said, “When neighborhoods have seen corporate projects in the past they have been small and not sustainable. This is different.” It is different, Azar said, because Fifth Third and G7 have history with the Bank providing help during the mortgage crisis. “Fifth Third is not new here. They were here with the home mortgage program, and that’s what helped stabilize the neighborhood.”

Read the full 2020 Fifth Third Bancorp ESG Report online.

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Fifth Third Bancorp

Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Dec. 31, 2021, Fifth Third had $211 billion in assets and operated 1,117 full-service banking centers and 2,322 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. 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.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.

Fifth Third’s Purpose is to improve lives and the well-being of its communities by being the One Bank people most value and trust. The Company believes in doing well by doing good and delivering long-term sustainable value to all its stakeholders. Fifth Third is focused on five environmental, social and governance priorities: keeping the customer at the center, demonstrating its commitment to employees, strengthening its communities, promoting inclusion and diversity, and addressing climate change.

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