CRA stands for Community Reinvestment Act. It’s a federal law that applies to almost all banks in the United States, placing a unique duty on them to help lower-income neighborhoods and communities. For nonprofits serving these areas, CRA guidelines can be a great resource for understanding how and why a bank […]
In celebration of the 2014 holiday season, findCRA is excited to share the generosity of MainSource Bank, who stepped up and donated 15 corporate computers to Community Action of Southern Indiana (CASI)! While searching though findCRA’s online project listing, MainSource discovered that CASI needed office equipment and supplies for their […]
On July 24, 2014, Rep. Cedric Richmond (D – LA) introduced a bill that would allow the U.S. Postal Service to offer banking services to its customers. Under the bill, Post Office customers could open checking accounts, deposit into interest-bearing savings accounts and apply for small-dollar loans. The bill also supports the […]
Looking over notes from the 2014 National Interagency Community Reinvestment Conference, certain themes recurred throughout the sessions. The following is our list of the five most important insights for bankers. Are the right people involved in your CRA program? As the CRA Officer, do you have the appropriate level of […]
MYTH: “Mortgage loans are all that count towards my CRA lending performance.” Let’s be honest, regulators will review a bank’s mortgage lending data as a key indicator of CRA lending performance. But while mortgage data is key to developing and supporting your CRA efforts, it’s not the only way you can get CRA […]
So what does a T-Rex skeleton have to do with CRA and community development? Not much, really. Is it a captivating image that sums up my experience at the 2014 National Interagency Community Reinvestment Conference? Absolutely. Everything about this event was new and fascinating to me, while at the same […]
According to a survey released by Bankrate.com in March 2014, the era of the traditional brick and mortar branches may be coming to an end or at least a significant shift. The survey asked a little over 1,000 adults within the continental United States “when was the last time you visited […]
The two years since your last CRA examination have been great. The bank’s lending is exceeding peer averages in your assessment area. Financial contributions for community development purposes are the highest in the bank’s history. Every employee volunteered or taught a financial literacy course. A Satisfactory CRA rating is guaranteed […]
Just in time for the launch of findCRA.com, the 2014 National Interagency Community Reinvestment Conference was held in Chicago from March 31st to April 2nd. For those involved with CRA and community development, this is THE event to attend. Participants not only have the opportunity to network with the most advanced practitioners and agency professionals in […]
Looking at 2013 for the state of Kentucky, CRA performance was Satisfactory. During 2013, a total of 40 CRA examinations were conducted for banks operating in the state. Of the 40 examinations, 34 were conducted by the FDIC, 4 by the Federal Reserve and 2 by the OCC. Within this population […]