Fifth Third Gives Families a College Savings Head Start for "Fifth Third Day"
‘Fifth Third Babies' born on May 3 in select Detroit and southwest Florida hospitals received $1,053 toward a 529 savings account
More than 80 newborns across metro Detroit and southwest Florida entered the world on Saturday with a leg up for future financial success, thanks to a partnership between Fifth Third, the Gift of College and participating local hospitals.
Fifth Third (NASDAQ:FITB) presented the new parents with care packages that include a $1,053 gift card for a 529 College Savings Plan, a DoorDash gift card, and baby gifts such as a onesie, bib, blanket and book. Labor & delivery nurses at participating hospitals also received appreciation gifts from Fifth Third.
Fifth Third Babies is part of a broader national celebration: on May 3, celebrated as "Fifth Third Day," Fifth Third's nearly 19,000 employees mark the occasion with a day of volunteerism and giving to help improve the communities where they live and work across Fifth Third's 11-state footprint.
"It is a privilege to welcome the newest members of our community on this important day for Fifth Third. We believe strongly in increasing financial access and mobility in the communities we serve to create brighter financial futures for the next generation," said Fifth Third Eastern Michigan Regional President David Girodat. "And as a father and grandfather, I know how important it is to support parents by giving them a head start on saving for their children's educational future."
Since 2017, Fifth Third Babies has delivered more than $730,000 in 529 plan funding to the families of nearly 700 babies born on 5/3 through partnerships with 125 hospitals across seven states.
Nineteen hospitals in total across Detroit, Fort Myers and Naples participated in the program this year. Each family with a baby born on 5/3 received a gift bag with a $1,053 gift card that allows them to open a 529 college savings account in partnership with the Gift of College. Parents can redeem the certificate into their state 529 plans.
"We are thrilled to bring the Fifth Third Babies initiative to Collier and Lee counties," said Stephanie Green, Fifth Third South Florida regional president. "This tradition is a heartfelt way to welcome newborns into the world with a special touch from Fifth Third. Beyond the celebration, it's about helping families begin planning for their children's financial futures from day one. Fifth Third believes strongly in increasing financial access and mobility in the communities we serve to create brighter financial futures for the next generation. We are proud to continue supporting our community in such a personal and lasting way."
"Starting the saving and investing process when a child is brand new gives the money plenty of time to grow—and provides parents and others countless opportunities to contribute during the 18 years which follow," said Patricia Roberts, chief operating officer of Gift of College, mom of a recent debt-free college graduate and author of "Route 529: A Parent's Guide to Saving for College and Career Training with 529 Plans." "In addition to friends and family being able to contribute for birthdays, holidays and other special occasions, employers are able to make 529 plan contributions as a financial wellness benefit.
"As a mom who's been there, I know the value of starting the savings process early and the many doors educational savings can open down the line. I immediately began sleeping better at night once I knew we had a plan in place for our child's future. Looking back, opening a 529 account when our child was an infant was one of the smartest decisions we made."
From May 3 through 29, the public has the opportunity to participate in a social media sweepstakes to win one of 53 $1,053 Gift of College cards to be redeemed through state 529 college savings plans and a Fifth Third Babies bag. Winners will be selected on 529 Day, or May 29 on the calendar. More information and full sweepstakes rules are available online at 53.com/babies.1
1 NO PURCHASE NECESSARY. Sweepstakes open to legal residents of the U.S., excluding New York. At least 18 years old to enter. Odds of winning depend upon the number of eligible entries received. Void where prohibited. Sweepstakes begins May 3, 2025, at 12:00 AM EST and ends May 29, 2025, at 8:00 AM EST. For complete sweepstakes rules visit 53.com/babies. Sweepstakes is in no way sponsored, endorsed, administered by, or associated with, Meta Platforms, Inc.
About Fifth Third
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250505096875/en/
Amanda Nageleisen (Media Relations)
[email protected]
Matt Curoe (Investor Relations)
[email protected] | 513-534-2345