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#165729 - 03/02/04 08:24 PM CRA
Anonymous
Unregistered

Can employee contributions to community organizations for benefit of LTM individuals be included under CRA service? Empoyees, on their employers time raise funds in various different ways

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CRA
#165730 - 03/02/04 10:10 PM Re: CRA
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
Contributions of time, service, skills, etc. of bank employees on employer time - most likely yes

Contributions of employee's money - no
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#165731 - 03/02/04 10:22 PM Re: CRA
Anonymous
Unregistered

As per my recent conversation with an FDIC examiner, you may receive community developement service credit for these types of services but it must be documented in writing by someone in management from the organization you are helping.

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#165732 - 03/02/04 11:55 PM Re: CRA
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Always remember when taking CRA Investment credit, YOU (the bank) must own the money you invest to take credit for the investment. You can't take credit for employees funds (including their contributions to United Way). It's their investment, not yours

You can of course take credit for the service if you document it appropriately and it takes place with the bank's blessing. (Don't try to take credit for weekend work done by a teller at her son's title one school).
_________________________
Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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