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Debt is a buzzword for politicians, a burden for students, a necessity for most homeowners and a reality for 70 percent of Americans. But despite this fact, 30 percent of those in debt have no plan to pay it off, according to a recent survey conducted by Fifth Third Bank (NASDAQ: FITB). Fifth Third commissioned the national survey to examine the financial beliefs and behaviors of American adults. The results provided a snapshot of our nation’s financial literacy, with 82 percent of respondents citing financial independence as a goal in their lives. The survey also revealed how the three largest generations in America differ in their understanding and management of savings, budgeting, retirement planning and credit. “At Fifth Third, we were curious to discover how knowledgeable Americans are about their personal finances,” said Jada Grandy, senior vice president and Community Reinvestment Act strategies director, Fifth Third Bank. “The results of this survey give insight into financial literacy in America, as well as the needs of customers at different key stages of their lives. This knowledge arms Fifth Third with the tools to support our customers at every step on their journey to financial independence.” To view the multimedia release go to: http://www.multivu.com/players/English/7723851-fifth-third-bank-life/

Today, Fifth Third Bancorp and the National Community Reinvestment Coalition (NCRC) signed a landmark $30 billion community development plan through 2020. The plan builds on the $27.5 billion community commitment that Fifth Third announced in February 2016, and is the largest by a single bank in recent history. A detailed summary of the agreement can be accessed at www.53.com/commitment. The plan covers the 10 states in which Fifth Third has branches and follows weeks of discussions and six meetings between Fifth Third and community groups working with NCRC in Chicago, Charlotte, Cincinnati, Cleveland, Tampa Bay, and Washington, D.C. All told, Fifth Third met with more than 200 community-based organizations. To view the multimedia release go to: http://www.multivu.com/players/English/7723855-fifth-third-bank-ncrc-community-commitment/