As part of its annual celebration, Fifth Third Bank announced that it has committed $100,000 to Hope College for the construction of DeVos Fieldhouse.
"Fifth Third has a tradition of announcing major community commitments on or around May 3, or 5/3, in the local markets we serve," explained Larry Koops, Senior Vice President for Fifth Third Bank (Western Michigan). "We believe that if you build a stronger community, you build a stronger bank. Supporting economic development as well as increasing access to homeownership and cultural activities are priorities at Fifth Third Bank."
Hope College President James E. Bultman commented, "We are grateful for this significant gift from Fifth Third Bank, a bank in which Hope has had a longstanding relationship that is treasured. This generous gift is especially meaningful because of the community initiative that is helping bring the new DeVos Fieldhouse closer to reality."
The construction of a spectator arena to serve the Holland community has been envisioned for several years. After a public referendum failed, Hope College accepted the initiative as part of the development of an Eastern Gateway entrance to Holland's downtown. The college in recent months has demolished the former Western Foundry factory to make way for the $20 million facility.
The 3,500 seat spectator facility will offer a first-class setting for intercollegiate sports and major community events. Potential uses for the facility include intercollegiate athletic events, local high school sporting events, concerts, graduations and other various community events.
This week, Fifth Third also announced additional contributions in the Kalamazoo, Grand Rapids, St. Johns, Jackson, Fremont, and Muskegon communities.Koops continued, "Fifth Third has a long history of supporting community programs and these donations exemplify our commitment to building stronger communities. Last year, Fifth Third provided more than $20 million for community projects through the Fifth Third Foundation and other charitable trusts and foundations for which we're privileged to serve as Trustee."
Fifth Third Bank has managed private trusts and foundations for over 100 years and today, contributes to hundreds of charitable organizations throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee and West Virginia. In addition to its dedicated Foundation Office, Fifth Third has the special privilege of managing 61 private and charitable foundations created by caring persons in the community, like the Eleanor C.U. Alms Trust, Charles Moerlein Foundation, Jacob G. Schmidlapp Trust, Charles E. Schell Foundation, Ohio Valley Foundation and the Charlotte R. Schmidlapp Fund.
Fifth Third uses the income from these foundations carefully and selects programs consistent with the intentions of each of the original benefactors. The Fifth Third Foundation Office is part of Fifth Third Bank Investment Advisors, the money management arm of Fifth Third Bank. With $189 billion in assets under its care and $29 billion actively managed, Fifth Third is one of the largest money managers in the Midwest.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $84 billion in assets, operates 17 affiliates with 941 full-service banking centers.