Fifth Third Bancorp Announces Contract with EverFi to Provide Financial Education, Entrepreneurship Classes to High School Students throughout its Footprint
New Alliance Represents Key Component of Bank’s Recently Announced
$30 Billion Community Commitment
CINCINNATI–(BUSINESS WIRE)–Today, Fifth Third Bancorp and EverFi announced a multi-year contract
that will enable Fifth Third to offer financial education and
entrepreneurship classes to high school students located within the 10
states where the Bank operates retail branches.
“Fifth Third has made an incredible commitment to improve the financial
capability of teens all across the communities it serves,” said Ray
Martinez, co-founder and president of EverFi’s Financial Education
Division. “Its groundbreaking investment will provide students and
teachers with our digital learning technology and a national network of
educators for training and professional development. We are excited to
bring this innovative and hands-on approach to students. We applaud
Fifth Third as it continues to transform the lives of young people by
empowering them to invest in their financial health.”
EverFi powers financial education in a national education network of
K-12 public schools, colleges and universities, and in community-based
organizations committed to equipping millions of students annually with
the knowledge and skills they need to make important financial
decisions. With a national on-the-ground team of community leaders and
former teachers partnering in schools across the country, EverFi
delivers innovative, mobile-ready technology using gamification and
personalized learning that focuses on increasing knowledge and
preparedness around financial well-being.
Since 2004, Fifth Third has been a leader in delivering financial
empowerment programming to individuals at all ages and stages of life
through its own signature programming as well as key sponsorships in its
markets. The EverFi contract will allow Fifth Third to deliver financial
education to 150,000 high school students annually.
Fifth Third’s high school program will offer a combination of
foundational financial education and business finance courses to
students throughout Ohio, Indiana, Kentucky, Illinois, Michigan,
Florida, Tennessee, North Carolina, Georgia and West Virginia. Courses
also will be delivered through scholarships and in collaboration with
non-profit organizations with deep community ties. Financial education
for teens is deeply connected to Fifth Third Bank’s recent commitment
to invest $30 billion in the communities it serves. The program,
announced on Nov. 18, 2016, includes $158.4 million in Fifth Third
Impact Initiatives, many of which center around financial empowerment
and improving personal financial capability in communities.
“Our new program is consistent with our strategy and commitment to
improve lives and invest in our community,” said Fifth Third Executive
Vice President Brian Lamb, who oversees community relations, among other
functions. “The customized program will enhance students’ experience as
they learn critical life skills. Through it, we expect to generate the
positive impact we desire while serving our communities the way they
expect as a result of our public community commitment.”
Lamb expanded on the program details: “Our new, student-centric high
school financial empowerment program serves high school students in
their classrooms, in their communities and through scholarships—and is
available at their fingertips on their tablets and mobile phone. We are
going to put the power of our own financial expertise to work through
these programs and will facilitate the evaluation of the students’
progress to ensure they have the knowledge they need at the course’s
conclusion and can apply it in their adult lives.”
Fifth Third’s new high school financial education program will be
available for 2017-2018 school year. It is highly digitized and
interactive to allow students to personally engage with and learn in the
dynamic environment with which they have grown accustomed. It includes a
method of measuring progress and learning, and it ends with a Fifth
Third Post-High School Financial Road Map. The program will be embedded
into high school curricula, is aligned with state and national
standards, and EverFi’s high school financial education program, which
is a part of Fifth Third’s new program offering, is a Consumer Financial
Protection Bureau (CFPB) recommended resource. It does not promote any
of the Bank’s services.
Fifth Third Bank’s L.I.F.E. (Lives Improved through Financial
Empowerment®) programs deliver personal finance education to individuals
in the community at every age and stage of life. Its Fifth Third Bank
Young Bankers Program® is offered to fifth-grade students. The 12-course
Fifth Third Bank Empower U® program is for adults in the community. Many
of the Bank’s financial education offerings are available on the Fifth
Third Financial Empowerment Mobiles, or eBuses, that travel in low- and
moderate-income and/or high minority communities annually.
About EverFi, Inc.
EverFi, Inc. is the education technology innovator that empowers K-12,
higher education, and adult learners with the skills needed to be
successful in life. Its comprehensive critical skills platform is
focused on Financial Education, Digital Citizenship, STEM Career
Readiness, Diversity and Inclusion, Entrepreneurship, Character
Education, and Health and Wellness. The EverFi Education Network is
powered by more than 3,300 partner organizations across all 50 states
and Canada and annually reaches 6 million learners. Learn more at
everfi.com.
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company
had $143 billion in assets and operates 1,191 full-service Banking
Centers, including 94 Bank Mart® locations, most open seven days a week,
inside select grocery stores and 2,497 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial Banking,
Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth
Third also has an 18.3 percent interest in Vantiv Holding, LLC. Fifth
Third is among the largest money managers in the Midwest and, as of
Sept. 30, 2016, had $314 billion in assets under care, of which it
managed $27 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.” Fifth Third Bank was established in 1858.
Member FDIC, Equal Housing Lender
Contacts
Fifth Third Bancorp
Larry Magnesen, 513-534-8055
Larry.Magnesen@53.com
or
EverFi,
Inc.
Monique Waters, 202-526-0011 x373
Monique@everfi.com
