SOURCE: Fifth Third BancorpDESCRIPTION:
CINCINNATI, September 3, 2020 /3BL Media/ – Fifth Third Bank, National Association, today announced that it has joined the Historically Black Colleges and Universities Partnership Challenge, sponsored by the HBCU Caucus. The bipartisan initiative strengthens public-private investments in HBCUs to ensure their future sustainability, increase career prospects for their students, and advance diversity and inclusion within all sectors of employment.
“Joining the HBCU Partnership Challenge demonstrates our dedication to HBCU students and institutions of higher education,” said Hosetta Coleman, senior vice president and head of university relations at Fifth Third Bank. “This collaboration builds on our multicultural recruitment program that helps us develop and recruit the diverse students who will eventually become financial industry leaders and experts.”
In 2017, Fifth Third launched a multicultural college and university recruitment program as part of its $32 billion Community Commitment. The program focuses on establishing relationships with colleges and universities to recruit, hire and retain the best and brightest students. The program serves to deepen the Bank’s relationships with traditional colleges, and particularly with HBCUs, to strengthen the pipeline of diverse talent through internships and long-term employment opportunities through leadership programs.
Since the program’s inception, Black students have been recruited from the following HBCUs: Central State University, Florida A&M University, Johnson C. Smith University, Clark Atlanta University, North Carolina A&T, Tennessee State University, Spelman College and Morehouse College. Because of their close proximity, the Bank has combined its recruiting efforts and on-campus presence at Wilberforce University with activities at Central State. The Bank also has partnered with the higher education institutions to provide early career development and financial welllness coaching for students and philanthropic support.
Recruiting from HBCUs builds on Fifth Third’s Environmental, Social and Governance strategy aligned to the United Nations Sustainable Development Goal No. 10 to reduce inequalities. For more information, see https://www.un.org/sustainabledevelopment/sustainable-development-goals/.
“Building relationships with companies like Fifth Third Bank is absolutely imperative as we strive to create a more just and equitable society, and it holds even more importance given the economic and public health burdens of the ongoing COVID-19 pandemic on communities of color,” said Rep. Alma Adams of North Carolina. Adams is the founder of the HBCU Partnership Challenge. “I look forward to working with Fifth Third to create 21st-century opportunities for HBCU students and graduates to come.”
The Congressional Bipartisan HBCU Caucus launched the HBCU Partnership Challenge in 2017 and comprises 95 Republican and Democratic U.S. senators and representatives. Challenge participants have made a commitment to incorporate HBCUs in their diversity and inclusion efforts. Each quarter, challenge participants convene with HBCU leaders and members of Congress to forge stronger, more sustainable HBCU and industry partnerships.
About 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 June 30, 2020, Fifth Third had $203 billion in assets and operated 1,122 full-service banking centers and 2,456 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 53,000 fee-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 money managers in the Midwest and, as of June 30, 2020, had $405 billion in assets under care, of which it managed $49 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. 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.
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KEYWORDS: NASDAQ:FITB, Fifth Third Bank, Historically Black Colleges and Universities Partnership Challenge, HBCU