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Could a Bank's $20 Million Investment Add Up to Better Days for South Chicago?

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·1 min read
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Here’s hoping Fifth Third bank’s investment sparks a major rejuvenation of this long-struggling Chicago neighborhood.

Northampton, MA --News Direct-- Fifth Third Bancorp

The former South Chicago YMCA, now senior housing, could get a restored community swimming pool under an investment plan for the neighborhood by Fifth Third Bank | Preservation of Affordable Housing
The former South Chicago YMCA, now senior housing, could get a restored community swimming pool under an investment plan for the neighborhood by Fifth Third Bank | Preservation of Affordable Housing

By CST Editorial Board

The South Chicago community literally helped make Chicago.

For most of the 20th century, many of our city’s skyscrapers, expressways and bridges were built with steel that the neighborhood’s mills — namely the giant U.S. Steel South Works plant — churned out around the clock and by the freightload, providing thousands of good-paying jobs along the way.

And then what happened? The days of Big Steel ebbed in the 1970s and then ended, and the city and its institutions repaid its debt to South Chicago by allowing it to become yet another neighborhood debilitated by chronic disinvestment.

So we were glad last week to hear the announcement that Fifth Third Bank will be making a three-year $20 million investment in the South Chicago neighborhood.

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View additional multimedia and more ESG storytelling from Fifth Third Bancorp on 3blmedia.com

View source version on newsdirect.com: https://newsdirect.com/news/could-a-banks-20-million-investment-add-up-to-better-days-for-south-chicago-810509806