Looking for CRA Ideas?

The FRB has published a Directory: Community Development Investments. This directory is intended to be a resource for all parties involved with CRA - banks, community groups, and other interested parties. The directory can give you several types of information. First, it is a list of organizations and investment opportunities that you may wish to contact, learn more about, or work with. It is a list of successful projects - projects that work and that examiners liked.

Second, it is a valuable resource for ideas. Your bank doesn't have to do precisely the same project, but reading about other successful projects should stir your creative juices.

Third, the directory can help you with explaining what counts and what doesn't when management doesn't understand. There are concrete examples (that another bank actually did).

Finally, the directory should give you ideas on areas or departments in the bank that you should involve in the CRA program. At the very least, find out if they might already be doing projects that count. Check out the directory at the FRB site and download your copy for free. Just go to: www.federalreserve.gov/dcca/directory/

Copyright © 1998 Compliance Action. Originally appeared in Compliance Action, Vol. 3, No. 13 & 14, 10/98