Need to Conform to the Community Reinvestment Act (CRA)?
Since its implementation in 1977. The Community Reinvestment Act has significantly increased lending in LMI communities. And if you work at a bank that is currently creating lending, investment, and service opportunities for low and moderate income (LMI) businesses and borrowers, you know the importance of capturing all of the time and resources you have invested in these community for CRA credits.
The Community Reinvestment Act (CRA) includes several tests that banks need to pass to prove they meet compliance and ensure they are in fact investing back into their local communities. One way to qualify for CRA credit is through capturing volunteer hours. As the Federal Reserve credits banks for volunteer hours that meet CRA criteria, you need to have a solution in place to track the results of ALL of your volunteer efforts - from financial literacy programs, to fundraising activities, to NPO board memberships.
Why Capturing All Employee Volunteer Efforts Is Essential for CRA Conformity:
Do you get the feeling you could be missing some CRA qualifying activities? It can be tedious and complex, and you’re not alone.
Read more here: https://blog.cybergrants.com/
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