Fifth Third Bank Recognized for its Diversity Supplier Commitments in Georgia by the Georgia Minority Supplier Development Council
Friday, January 15th, 2021
Fifth Third Bank (Georgia), N.A., has been named the Local Corporation of the Year by the Georgia Minority Supplier Development Council. The Council officially honored the Bank at its GMSDC’s Spirit of Alliance Awards on December 3rd. The Spirit of Alliance award is one of the most prestigious honors in the state, recognizing the best of the best in minority business development and supplier diversity.
“We are honored to be GMSDC’s 2020 Local Corporation of the Year,” said Randy Koporc, regional president of Fifth Third Bank (Georgia). “At Fifth Third, we understand that a diverse supply chain represents better business and ultimately benefits the community. Establishing partnerships with organizations like GMSDC helps the Bank achieve its mission to address the capital gap that many minority small business owners face, as well as provide technical assistance.”
Fifth Third Bank’s supplier diversity program was developed to encourage certified minority-, women-, veteran-, persons with disabilities-, and LGBT+-owned small businesses to compete in contracting opportunities. In support of economic inclusion, the Bank strives to increase its spending with diverse suppliers, increase its number of diverse suppliers and increase diverse supplier penetration in challenging categories. With the economic challenges created by the coronavirus pandemic and with rising awareness of racial injustice, the Bank is focused now more than ever on making a difference with minority-owned small businesses.
“As we continue to confront the injustices of racial inequality, the need to serve and uplift diverse individuals, families and communities has never been more important,” said Marsha Thornton, Fifth Third’s director of supplier diversity. “At Fifth Third, we stand with the Georgia Minority Supplier Development Council and appreciate the opportunity to positively drive change for diverse owned businesses.”
Fifth Third Bank has an active and engaged partnership with GMSDC. In addition to providing funding to support its programs, the Bank also has provided critical ongoing support and technical assistance to minority businesses in the region. Recent activities include:
· A presentation to entrepreneurs on navigating and thriving during COVID-19, wealth advisement, effective ways for small business owners to tell their story and how to apply for bank loans. One-on-one sessions to guide MBEs and SBEs on how to build banking relationships.
· Serving as a corporate sponsor for GMSDC’s 2020 Financial Summit and its 2020 Business Opportunity Exchange Conference.
· Regional President Randy Koporc serving as a keynote speaker at this year’s Financial Summit to highlight small business banking trends.
Every year, the GMSDC – Georgia’s leading supplier diversity and small business development organization – hosts the Spirit of Alliance Awards, a gala honoring the corporations, minority business enterprises and supplier diversity professionals that are setting the standard for minority small business development in Georgia.
“As a strong corporate partner, Fifth Third Bank continues to make great strides in fostering opportunities for minority businesses,” said Stacey Key, GMSDC president and CEO. “We are proud to be recognizing Fifth Third Bank for their efforts to strengthening our economy and communities across Georgia.”