Community Reinvestment Act (CRA), passed in 1977, holds banks
and savings institutions accountable for meeting the credit needs
of all communities they are chartered to serve, including low- and
moderate-income communities. Under the legislation, federal banking
agencies periodically evaluate banks to ensure that they are attentive
to community needs.
ensure a positive CRA evaluation, banks actively cultivate links
to the community, especially through providing funds and services
to a community-based program like Neighborhood Networks. Contact
the CRA officer at your local bank. The bank may be willing to sponsor
an innovative new welfare-to-work program or bank employees may
be willing to teach a course on financial literacy for residents.
Neighborhood Networks centers can benefit from the CRA by working
with their local banks and financial institutions to promote increased
community-lender partnerships. These partnerships can lead to greater
resources available in the community to promote sustainability and
links below and to the right provide more information on CRA and
the opportunities it presents to Neighborhood Networks centers.