The Community Reinvestment Act (CRA) is a United States federal law designed to encourage financial institutions to meet the credit needs of communities in which they do business, including low- and moderate-income neighborhoods. Banks that are unable to meet their obligations on CRA examinations can be penalized with significant reputational risks and even halted long-term growth, as acquisitions, mergers, and opening new branches can be prevented.

It is therefore imperative to build programs that are both impactful and scalable, such as with digital financial education, as well as keep track of qualified community development grants and the range of volunteering services that employees complete every year.

This whitepaper includes guidance on fulfilling your bank’s Community Reinvestment Act requirements and tracking CRA qualified initiatives, as well as the role that Blackbaud Corporate Impact Solutions can play in supporting financial education, employee engagement, and grantmaking programs.