Community Reinvestment Act of 1977

The Community Reinvestment Act of 1977 (CRA) directs agencies (FDIC, OCC, the Board of Governors of the Federal Reserve System)  to encourage insured depository institutions (Banks) to help meet the credit needs of the communities in which they are chartered. CRA does not prohibit any activity, nor is it intended to encourage unsafe or unsound lending practices or the allocation of credit.

CRA requires that each insured depository institution’s record in helping to meet the credit needs of its entire community, including low and moderate-income neighborhoods, be assessed periodically.

Our CRA Pillars

Developer for Bootstrap Building

As a CDC our current development is Serenity Estates of Mesquite 36 home development 16 SFH & 20 half duplexes under $300K for Essential Workers of Dallas County. Duplexes are 1,100-1,300 sq ft and homes are starting a 1,500 sq ft.

Workforce Development

E3 Program Educate. Empower. Employ. We Educate the youth 18-24 and unskilled workers 25-up by partnering with Dallas & Collin Colleges for industry specific job readiness training. We Empower by offering life skills, soft skills, mental health counseling, life coaching, and case management to ensure we are serving the whole person. We Employ with our corporate partners who train on-the-job through job readiness training programs. Banks receive CRA credit for service in Money and Financial Literacy as well as corporate onboarding where they may capture new accounts from new hires who are wanting to set- up direct deposit and may need small loans some even car loans.

Entrepreneurial Education

The B3 Better Business Banking Series is for Entrepreneurs where we have served more than 262 business owners with obtaining small business, working capital, and operating expenses. Currently in partnership with the Desoto Chamber of Commerce to educate entrepreneurs on the ABCs of Business in this Bank-Readiness Series.

Youth Services

When we started doing Free College Registration Classes at local high schools in 2016, having no idea how huge of a success this would be. Every session is standing room only. Students learn how to start college in high school to capture a competitive advantage; and they are so interested in everything the bank has to offer for young people including accounts and savings plans.

What is CRA

The Community Reinvestment Act of 1977 (CRA) is implemented by regulations of the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) in 12 CFR parts 25, 228, 345, and 195. The CRA regulations require that information on business, farm, and community development lending by insured depository institutions that meet certain asset thresholds, determined annually, be made available to the public. CRA directs the agencies to encourage insured depository institutions to help meet the credit needs of the communities in which they are chartered.

CRA In Action

Workforce Development

Entrepreneurial Education

Youth Services

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