Fifth Third Bank opens new Detroit branch

Fifth Third bank has opened a 4,500-square foot office on Eight Mile just east of Livernois. The branch is full-service; it includes four drive-up banking lanes, a 24-hour ATM, safety deposit boxes and private offices for commercial banking, loans and mortgages.

Later this month, Fifth Third will open another branch at Seven Mile and Telegraph and hope to occupy its "regional hub" branch in the South University Village development by the end of the year.

Fifth Third's president for Southeastern Michigan, Greg Kosch, says the bank is scouting sites for an additional three or four locations in Detroit, which he calls "an underserved banking area."

Kosch says the bank has an interest in locating in neighborhoods, where he says, "individuals need banks." Although a downtown location is not off the table, he says Fifth Third is currently more interested in being part of "revitalized neighborhoods."

Kosch describes how a Sherwood Forest resident went door-to-door gathering petition signatures for a necessary additional curb cut for the new branch. He says, "The neighborhood wants this office there. It wouldn't have happened without grass roots support."

Source: Greg Kosch, Fifth Third Bank
Writer: Kelli B. Kavanaugh