#58: How to Increase your CRA Services By Partnering with Impactful Organizations

After collecting information about existing employee involvement through board service and volunteerism, it’s apparent you need to increase your bank’s community development services…but where do you start?First, look at your bank’s existing community development services and consider whether you can expand or deepen that relationship by providing additional services. Is the organization looking for new board or committee members with financial expertise? Could their clients benefit from financial capability workshops or workforce development support such as resume reviews?Second, are there local affiliates of national organizations that you might be able to support in each of your assessment areas? Through Junior Achievement your employees could teach a curriculum focused on financial literacy and career readiness in local schools with free-and-reduced-lunch rates greater than 51%. Through Habitat for Humanity, an employee could review homeowner applications to ensure applicants can afford the mortgage while serving on a Family Selection Committee. Third, don’t be afraid to get creative! Consider meeting with the local community foundation or United Way chapter to learn about the greatest needs in the communities you serve. Oftentimes these organizations are the first to know about board or committee opportunities in the community and can direct you towards organizations that serve low-to-moderate-income individuals or small businesses and that align with CRA community development purposes. The sky is the limit to what you could build together! For some inspiration, read the OCC’s Financial Capability Fact Sheet. https://www.occ.gov/publications-and-resources/publications/community-affairs/community-developments-fact-sheets/pub-fact-sheet-financial-capability-jan-2019.pdfCRA Today helps bankers master the Community Reinvestment Act, get exam ready, and change lives through the power of community development.Want to learn the CRA basics? Sign up for CRA Essentials Live! A live webinar with Linda Ezuka that shares everything you need to create a solid foundation for your CRA journey. https://hub.cratoday.com/freewebinarReady to take a deeper dive into the CRA? Join your fellow CRA enthusiasts in the CRA Hub as we navigate regulatory change, study core CRA concepts and connect as community development professionals across the nation.https://cratoday.com/hub/CRA Today Website: https://cratoday.com/ Linda Ezuka, LinkedIn https://www.linkedin.com/in/linda-ezuka-cra-today/Copyright © 2022 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.