Community Reinvestment Act (CRA)
The Community Reinvestment Act (CRA) was created in 1977 to encourage banks and other financial institutions to meet the credit needs of their whole community – including small farms, small businesses and low- and moderate-income individuals. Revitalizing communities through sound lending and business practices benefits banks and also the communities they serve.
Providing better access to financial resources to low- and moderate-income individuals and small businesses is an integral part of our Corporate Responsibility efforts. Our national CRA Community Advisory Board and Regional CRA Market Councils provide regular feedback and invaluable insight into the most pressing needs of our communities.
Through our CRA program we:
- Expand access to housing, support economic development and economic opportunity, and improve financial capability and stability.
- Serve our clients with CRA-specific retail and mortgage products, loan assistance and financial literacy/homebuyer's education.
- Recruit and train high-performing CRA mortgage lenders.
- Provide ongoing CRA sales and product training to mortgage team.
- Participate in offering appropriate local and state bond and subsidy programs to our clients.
- Continue to review our internal CRA product offerings for potential enhancements.
- Host Affordable Housing Symposia in our largest markets.
- Partner with key community stakeholders to collaborate on serving the needs of LMI communities and small businesses in our footprint.
