#12: CRA Tips: A Series Created for CRA Practitioners

Managing the Community Reinvestment Act (CRA) program for your financial institution can be challenging, especially if you’re new to the CRA. To support you in your CRA journey, CRA Today and Kadince have partnered to provide informative content to highlight CRA best practices and ideas to guide your CRA program. We will be producing a new CRA Tip podcast episode every Tuesday morning, so you can start your day with intention. We know you are busy so we will keep it tight and to the point. The weekly CRA Tips are designed to give you something quick to digest in between our CRA webinars and blog posts. It can be hard to know which activities qualify as community development activities. The community development hooks linked below can help you quickly and easily determine if an activity qualifies or not. In addition to the community development hooks, make sure the activity passes the “primary purpose” thresholds:• A majority of the dollars of the activity are tied to one or more of the four community development hooks.• The expressed, bona fide intent of the activity is community development.• The activity is structured to achieve the community development purpose.• The activity accomplishes, or is reasonably certain to accomplish, the community development purpose.P.S. If you want to share your own CRA Tips, feel free to email either marketing@kadince.com or linda@cratoday.com, and we would be happy to share your wisdom with our community of CRA practitioners in a future email and post.Quotes• “These tips are a way to help you have a moment to reflect on….a best practice or something that you might want to reconsider within your institution.” (1:21-1:33)• “Keep in mind that community development hooks are foundational to your program as well as the ‘primary purpose’ and that threshold that you must cross for all of your activities.” (3:55-4:05)LinksCRA Today Website: https://cratoday.com/ To sign up for our free course: https://hub.cratoday.com/freecourseFor more information on the CRA Hub, a membership for bankers to connect, inspire, and master the art of CRA: https://cratoday.com/hub/ Copyright © 2021 by CRA Today LLC(No claim to original U.S. government material)All rights reserved. No part of this podcast may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.This podcast is a periodic publication of CRA Today LLC and is intended to notify and inspire recipients of new developments in the Community Reinvestment Act. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.Podcast production and show notes provided by FIRESIDE Marketing: https://meetfireside.com/podcast-production-service/