Fifth third bank celebrates June 15
CINCINNATI – (COMMERCIAL THREAD) – From 2022, Fifth Third Bank will expand its public holiday calendar to recognize Juneteenth as the 11th in the countrye Federal holiday, which commemorates the date on which the last Confederate slaves learned they were free. Due to the timing of the enactment of the new holiday and branch closure requirements regulated by the Office of the Comptroller of the Currency, Fifth Third will remain open this year to avoid disruption of service to customers.
“We are delighted to expand our 2022 calendar to include June as a recognized holiday by the federal government,” said Greg D. Carmichael, President and CEO of Fifth Third Bank. âIn addition, the work we do on racial equality establishes a framework that will play a vital role in the future of our organization. ”
In addition to celebrating Juneteenth, Fifth Third Bank also marks this week the first anniversary of the establishment of its Executive Diversity Leadership Council (EDLC) and the work it has done to accelerate equality, equity and inclusion (AREEI). While the Bank’s initial strategic goal was to make a difference for Black employees, customers and communities, the initiative is part of the Bank’s ongoing commitment to inclusion and diversity. , which focuses on creating equitable outcomes for all.
âThe anniversary of the founding of EDLC provides an opportunity to reflect on what we have achieved over the past year by launching our three-year AREEI strategy,â said Kala Gibson, Head of corporate social responsibility, responsible for corporate banking services. and executive co-sponsor of EDLC. âOur $ 2.8 billion commitment will impact clients and communities and is tracked and measured across four strategic pillars of strategic investments, access to capital, financial inclusion and education, and social justice and advocacy. â
“We are taking intentional steps and actions to address inequalities and racial inequalities in our business and in the communities we serve,” said Stephanie Smith, senior vice president, responsible for inclusion and diversity and co-executive sponsor of EDLC.
The commitment to the four pillars of AREEI is carried out in three areas of work.
the client workflow aims to make the bank the first choice of black consumers. Over the past year, bank executives have collaborated with an external research group that helps minority communities find out what black consumers think about the financial services industry and Fifth Third in particular. The goal was to better understand the financial needs of black clients to develop better tools to help build personal and generational wealth.
The Bank’s Wealth & Asset Management team continued to refine its transfer-to-transformation strategy in the Cincinnati market. The strategy focuses on high net worth and high net worth African American clients. The initiative helps people create, increase and preserve wealth for future generations.
The Mortgage Team strives to meet the credit needs of its clients by continuing to work with real estate agents, community and faith organizations to expand its reach and connect in meaningful ways.
the community workflow focuses on closing the wealth gap and improving the economic mobility of black communities through investments and loans of $ 700 million over three years. One of those investments – a $ 5.5 million investment in First Independence Bank, a minority depository institution in Detroit – makes Fifth Third the largest investor in this community development financial institution.
The Community Work Stream has also sought to deepen its relationships with national organizations such as the National Urban League by developing impactful programs. In May, the bank hosted its inaugural leadership conference for minority students, especially those attending historically black colleges and universities. The event featured senior black executives from Fifth Third sharing their career paths and advice.
the employee workflow works with a vendor who helps review the employee lifecycle. Last summer, the Bank hosted listening sessions that started with the Bank’s African American regional and corporate business resource groups, and then extended the sessions to the eight affinity groups of the Bank. Bank.
The EDLC anniversary also allows the Bank to measure its progress against six bold inclusion and diversity goals to be achieved by 2025. As part of these goals, which support inclusion and diversity within the Bank’s workforce and among its various suppliers:
100% of Bank employees have completed unconscious bias awareness training.
In February, the Bank hosted the first roundtable on Supporting Diversity Inclusion and Connection Opportunities for Supplier Empowerment. The event provided information and advice to help various vendors bid for work on upcoming Fifth Tier projects and introduce various vendors to key decision makers.
In March, the bank partnered with three black directors from the Women’s Business Enterprise National Council to launch a scholarship program to pay the WBENC certification fees for 28 black women business owners.
As the Bank recognizes its work on racial equity, its leaders are committed to ensuring that inclusion and diversity efforts continue to be an organizational priority. This year, members and allies of the Bank’s African American Business Resource Group honor Juneteenth in a variety of ways, including, but not limited to:
The African-American BRG in Central Ohio hosts a rally at the Columbus Museum of Art. The museum features an exhibit by Aminah Robinson, an American artist who represented black history through her art.
- ChicagoThe African American Business Resource Group is hosting a meeting dedicated to George Floyd and Juneteenth. After the meeting, members will be invited to an in-person celebration.
In Cincinnati, employees and their families are invited to the annual In The Street On Juneteenth neighborhood party, sponsored by Fifth Third. This free and inclusive event will feature a variety of educational and festive activities.
The central operations group of Cincinnati and Grand Rapids, Michigan, has a week of activities that will include Black-owned restaurants offering employee meals and interactive black art, books and historical exhibits.
- Florida African-American BRG members will host a leadership discussion with the Bank’s Commercial Banking Manager. They will also participate in educational and festive events from Juneteenth to Orlando, Tampa and Jacksonville.
the Georgia African American BRG is hosting a happy hour celebration for members, allies and employees in the region. It also encourages employees to perform virtual activities from the Atlanta History Center Juneteenth Program.
In Indiana, employees will attend Southern Soul’s Father’s Day Weekend Celebration and Indy Juneteenth Celebration. They will also attend a variety of festive events in Saint-Louis.
- Kentucky employees were invited to view an educational video on the history of Juneteenth and wear red, black and green, the colors of the Pan-African flag, on Friday, June 18. They were also invited to attend a BRG corporate conversation on the progress made over the past year on the Bank’s Racial Equality, Equity and Inclusion Acceleration Initiative.
the North Carolina African American BRG has worked with the Mint Museum in Charlotte to offer free access to the museum on certain dates in June. Members and their families are also invited to two free June 17 celebrations in the region.
In North Ohio, employees will participate in an activity that will focus on âWhat it means to be freeâ.
- Tennessee African American BRG will be hosting a tour of the National Museum of African American Music on June 10. Members will also attend the museum’s opening festivities and neighborhood party.
In West Michigan, the African-American BRG encourages its members to view the CNN documentary “Dreamland: The Burning of Black Wall Street”. In addition, members are invited to participate in several activities in the area, entertainment and cultural events.
To learn more about Fifth Third’s racial equity efforts, please visit www.53.com/racialequity.
About the fifth third
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 March 31, 2021, Fifth Third had $ 207 billion in assets and operated 1,098 full-service banking centers and 2,383 ATMs under the Fifth Third brand in Ohio, Kentucky, Indiana, Michigan, l ‘Illinois, Florida, Tennessee, West Virginia, Georgia, the North. Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest fund managers in the Midwest and, as of March 31, 2021, had $ 464 billion in assets under watch, including $ 58 billion for individuals, corporations and nonprofits by the through its Trust and Registered Investment Advisory Firms. Investor information and press releases can be found at www.53.com. Fifth Third common stock is listed on the NasdaqÂ® Global Select Market under the symbol “FITB”. The Fifth Third Bank was established in 1858. Deposit and credit products are offered by the Fifth Third Bank, National Association. FDIC member.