Fifth Third Bank Gives $8 million Loan for Nashville Seniors

Fifth Third Bank handed a fat check over to a senior citizens group to provide a crime prevention program in Nashville nursing homes. The bank’s 8-million dollar commitment will give residents at 10 nursing homes personal lock boxes and cash rewards for reporting incidents of theft and fraud.

The announcement was made at the Green Hills Health and Rehabilitation Center. Director Paula London says patients in long-term care are particularly vulnerable.

“Their door is always open because they’re always requiring care, so people are coming in and out of their rooms at all times. We do have security measures in terms of access to our buildings, but it’s like any other community. We have to watch and be alert at all times as to who’s coming and going. Do they belong here? Are they employees? Are they visitors?”

The Senior Crime Stoppers program reports that incidents have reduced by 91-percent in facilities with the program.

If 8-million dollars from Fifth Third sounds like a lot, it is. But the money is more like a low-risk loan than a gift. The federal government requires banks to offer a certain percentage of their loans to low-income recipients. The Senior Housing Crime Prevention Foundation is set up so banks can meet those requirements. But banks get their money back after five years.