Fifth Third Bank is the latest company to put its money where its mouth is when it comes to diversity and inclusion!
The bank has committed $2.8 billion to speed up their efforts on inclusion, equality, and racial equity — a triple threat when it comes to the advancement of Black Americans.
According to Black Enterprise, the Cincinnati-based bank will provide $2.2 billion in lending, $500 million in investments, and $60 million in financial accessibility.
Another $40 million will be used toward its Executive Diversity Leadership Council’s Accelerating Racial Equality, Inclusion, and Equity commitment.
“As we continue to make meaningful strides in advancing inclusion and diversity in our industry and in our communities,” said Greg Carmichael, Fifth Third CEO and Chairman, in a news release. “The dedicated investment, philanthropy, and lending efforts will help accelerate our progress toward promoting equality, equity, and inclusion, both within the Bank and in our communities, launching with a $2.8 billion commitment.”
Not only will this three-year pledge focus on customers, but employees and communities will also reap the benefits of this initiative as well. Per the bank, each vertical has a specific emphasis on accelerating its progress.