Fifth Third Bank’s Neighborhood Impact Program provides grants to eligible families at a 4:1 match, up to $10,000. For every $1.00 the homeowner has toward minor home repairs, Fifth Third Bank will grant $4.00. For example: if a homeowner needs a new roof costing $5,000.00, the homeowner will pay $1,000 and Fifth Third NIP will pay $4,000.
The grant is available to low-to-moderate income homeowners who need structural alterations, elimination of health and safety hazards, such as lead-based paint remediation, energy conservation improvements, improvements for easier accessibility for the handicapped, and other ‘quality of life’ repairs.
Fifth Third Bank is currently accepting applications for its Neighborhood Impact Program (NIP). The NIP provides grants to eligible applicants on a first-come, first-served basis with Fifth Third Bank customers having first priority, until funds are depleted. Since 2006 Fifth Third Bank has awarded more than $600,000 in grant money for NIP residents across southeastern Michigan.
“The word is out,” said Brenda Massey, assistant vice president in the Community Development department and program administrator for the Neighborhood Impact Program (NIP) “and we are trying to reach families who may be eligible to ensure they are aware of the program. The Fifth Third NIP is a godsend to many of my customers. Families living in structurally compromised housing are more often than not at risk of physical danger because the repair has been put on the back burner until some extra money comes in. Usually the extra money never comes in because times are tough and not many people are seeing extra money. In many families there’s no such thing as extra money. The odds of a minor repair becoming major can be mitigated just by them taking advantage of available resources. This is what the program is about. This is what we’re (Community Development) all about; providing people with the resources they need,” said Massey. “This is one of the issues faced by some of her customers. But she is aware that the NIP is not a panacea however, it goes a long way to help meet the needs of families that need an emergency roof repair, for instance or would like to install insulated windows in order to help bring down their monthly energy bill.
The program’s new cycle of funding began in May and will run until the funds are depleted. She understands the critical and sometimes emotional nature of her job and fields at least 25 calls each day with the empathy that is required when people, sometimes with nowhere else to go for funds, are seeking assistance.
To facilitate getting the funds to eligible families Ms. Massey also works with community organizations across the Fifth Third Eastern Michigan footprint.
If you or someone you know need home repairs and are interested in getting more information about the Fifth Third Bank NIP, you can contact pick up a NIP application at any one of our banking centers or contact Ms. Brenda Massey at (800) 246-5372.
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