Fifth Third Bank to give $1,053 to each baby born at 19 Chicago-area hospitals

Babies born at 19 Chicago-area hospitals May 3 will receive a special birthday present from Fifth Third Bank, the Chicago Tribune reports.

Fifth Third Bank will give gift cards worth $1,053 to each baby born at 19 Chicago-area hospitals in honor of the bank's namesake day, May 3 — or 5/3. The bank is encouraging parents to put the funds toward the child's college savings plan. However, parents will be able to use the money however they want.

Fifth Third Bank will also give new parents gift cards to select online retailers and baby onesies with the bank's brand to commemorate the babies' birthdays. Officials expect to deliver money to 200-plus infants, the report states.

This is the second year the bank has engaged in such an initiative. The program initially went live in Cincinnati last year, during which the bank bestowed cash to 100-plus babies.

Chicago-area hospitals participating in the giveaway as of April 30 include Chicago-based Rush University Medical Center, the University of Chicago Medicine Comer Children's Hospital and MacNeal Hospital in Berwyn, Ill., among others.

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