When a Nonprofit successfully passed CRANIA and our internal review, we consider that Nonprofit qualified. After the Nonprofit claims their online profile, that Nonprofit is then considered verified.
A Nonprofit that has applied for and been granted CRA Certification by findCRA is classified as certified. findCRA offers an independent certification for Nonprofit organizations who meet the requirements of the Community Reinvestment Act (CRA).
Our CRA Certification process starts with an online application that must be completed by the Nonprofit. We’ll ask some basic and detailed questions about the organization including information about the Nonprofit’s management, programs, services, financials and more. Once the Nonprofit has completed the application and submitted payment, our CRA experts review the application to determine if the Nonprofit meets the requirements for CRA Certification.
Our due diligence process includes a detailed review of not only the application that was submitted by the Nonprofit, but further research and verification of the information by our team of CRA experts. We have built our process to incorporate requirements outlined by bank regulators for managing third party risk, Bank Secrecy Act (BSA), USA PATRIOT Act, OFAC and other risk-management considerations.
As we conduct our due diligence review before granting a CRA Certification, we’ll ensure that all of the information in the application can be verified, as well as look at the independent third party sources. We conduct searches regarding the overall reputation of the business, check to make sure the Nonprofit is in good standing with state registration requirements, review their online presence, research potential complaints and more.
Before we grant a CRA Certification, we’re confident that the Nonprofit meets the requirements of the Community Reinvestment Act as well as other bank compliance requirements. CRA Certification status is only granted for one year from the date of issuance and each year, the Nonprofit must submit updated information for our review to maintain and extend their CRA Certification.