Fifth Third Empowers Next Generation With Financial Literacy Solutions
Source: https://www.csrwire.com/
The Fifth Third Foundation is launching REP4®FinLit, a new tool designed to enhance financial literacy for young adults. Created by students for students, this digital platform includes tools like a “Money Mindset” quiz to help users understand their spending habits and relationship with money. Kala Gibson, Chief Corporate Responsibility Officer at Fifth Third, emphasized the foundation’s commitment to helping young people develop financial skills for independence. REP4®FinLit combines research and expert advice to teach essential financial concepts such as spending, savings, and investments.
For over 20 years, Fifth Third has focused on empowering the next generation with financial knowledge. Their programs, such as the Fifth Third Bank Finance Academy® and Young Bankers Club®, offer free financial education to elementary and high school students, covering topics like budgeting, banking, saving, and investing. Additionally, the Fifth Third Financial Empowerment Mobile, or “eBus,” brings financial services, education, and social support directly to communities, particularly underserved areas, across the bank’s 11-state region.
REP4®FinLit is an extension of Fifth Third’s commitment to financial empowerment, created through the REP4® initiative, founded by Grand Valley State University and other higher education partners. The program is designed to empower high school and college students to shape the future of higher education by generating ideas and developing prototypes like REP4®FinLit.
Grand Valley State University President Philomena V. Mantella expressed gratitude for Fifth Third Foundation’s support, which allows students to create and share this digital tool nationwide. Students have been involved in the project from its inception, designing, developing, and testing the program.
GVSU sophomore Joy Murerwa, a finance and accounting major, expressed how meaningful it is to see her university implement REP4®FinLit, especially as a first-generation college student. She highlighted that the program goes beyond budgeting and debt management, focusing on peer-to-peer empowerment and addressing the financial knowledge gap many students face. With support from the Fifth Third Foundation, REP4®FinLit is expected to launch statewide in Michigan in 2025 and nationally in 2026.
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