Janet Hobbs
Fifth Third Bank has launched a consumer credit outreach program designed to help customers in various stages of financial difficulty. While we have always taken a proactive approach in this area, our efforts have expanded over the past six months and they continue to expand as things like unemployment and rising interest rates cause consumers unexpected financial hardship. As credit challenges continue, so too does our work.

Since the fourth quarter of 2007, teams from across the enterprise, including mortgage, credit card, auto and other loan groups, have ramped up their outreach approach, proactively calling and writing letters to customers who are not only past due on payments, but also those that may soon be at risk — for example those with Adjustable Rate Mortgages resetting in the near future.

We understand there are events that may cause people to fall behind on their loan obligations and it is in everyone’s best interest to handle the situation in a proactive manner. We want customers to know that they have options, whether it is a customized repayment plan, loan modification or more. Customers benefit because we provide assistance and an improved financial position at a time when they’re facing significant challenges. The bank benefits because it minimizes our exposure to future losses and potentially delinquent loans.

Starting this month, look for in-branch merchandising and brochures designed to educate and help customers. With each transaction, customer service representatives also will be passing along information leaflets regarding the program and options. While we understand that not all customers are at risk, they may know someone who is and can suggest our services sooner rather than later.

To complement these efforts and to further streamline the outreach process, we have created a dedicated homeownership and credit assistance number. Customers at any stage of difficultly can speak with a bank representative at (866) 601-6391. Additionally, we will include advertisements and information at www.53.com.

As we continue to navigate through this challenging credit environment, it’s important that we share this information with anyone who may be experiencing these difficulties. We are taking our commitment to helping customers manage their financial responsibilities to the next level, while creating stronger customer relationships and a better credit position for years to come.

Janet Hobbs is the Operations Department manager, Mortgage for Fifth Third Bank.