What does the Community Reinvestment Act (CRA) and the world's most active volcano have in common?

 
 
On May 3, 2018, Kilauea erupted dramatically, followed by a 5.0 magnitude quake on the Big Island of Hawaii. The eruption spewed lava into residential subdivisions prompting mandatory evacuations and wide-spread fear in the surrounding low- and moderate-income communities.  


Photo Credit:— Bruce Omori / Paradise Helicopters via EPA
 
Chances are, your bank has already had multiple conversations about local and national disasters, and as a member of the community development team, if you aren't at the table, you might miss the opportunity to not only make an impact, but to also earn CRA credit for your bank's efforts.
  
Financial Institutions are an integral part of the solution.
 
Photo Credit: — Jae C. Hong / AP
 
Some of your colleagues are making donations to nonprofit relief organizations on the ground, some are holding emergency meetings to create interim programs to waive fees, increase daily ATM cash limits and defer payments for those in affected by the natural disasters.
  
Refresh your understanding of designated disaster areas with the interagency Q&As...

CLICK for review the interagency CRA Q&As

The Agencies generally will consider an activity to revitalize or stabilize a designated disaster area if it helps to attract new, or retain existing, businesses or residents and is related to disaster recovery but will give greater weight to those activities that are most responsive to community needs.

Need help with your strategy?

Let's connect and develop a meaningful CRA disaster relief program based on your unique needs and community development programs.

CLICK to learn more!   

Linda Lewis Ezuka
808.223.6254
[email protected]
www.cratoday.com

Let's connect!

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