I CRA: Not Just Letters, BUT TRULY FOCUSED ON COMMUNITIES BY ROD LASLEY, INDIANA BANKERS ASSOCIATION ICBA CRA Solutions has gone through a few name changes during its 25 years of existence, but it continues to be a strong tool for community banks when trying to meet your ongoing CRA needs. Initially known as Senior Housing Crime Prevention Foundation (what a mouthful), ICBA CRA Solutions solely focused on providing programs to protect the elderly from financial fraud and abuse in senior housing facilities. These programs are still used today to serve the needs of facilities within your assessment area. They provide lock boxes for each unit within a senior housing community, as well as various articles, videos and other materials that help seniors stay alert to the potential of financial fraud or abuse. Your bank can support these programs in a few different ways and receive CRA credit for your efforts. There are three primary avenues to consider when working with ICBA CRA Solutions, including a CRA-qualified community development loan, an investment that is collateralized by CRA-qualified securities or a grant to the program. The loan would be a 3–7-year funding commitment, with monthly or semi-annual interest payments, on a 1-year note that renews annually. The investment would be a 5–7-year commitment as preferred stock in the Senior Housing Crime Prevention Foundation with regular dividend payments. Finally, the grant, the simplest funding option, would be a 3+ year funding commitment where the bank would receive an annual invoice for its contribution. Several Indiana banks have taken advantage of this opportunity to support their community through these efforts and have stated, “While our bank makes investments in community projects of all kinds, there is no better one than the opportunity to provide a safe and secure environment for the very ones that made our community what it is today.” The ICBA has also expanded CRA Solutions to now include various CRA training opportunities, support services and peer group interaction. The CRA-focused training includes programs for bank staff and the Board of Directors that cover: ▶ What qualifies as a community development activity? ▶ HMDA reporting … while also helping banks create customized CRA toolkits, action plans, scorecards and policies. PRODUCTS & SERVICES PROFILE While our bank makes investments in community projects of all kind, there is no better one than the opportunity to provide a safe and secure environment for the very ones that made our community what it is today. “ 56 HOOSIERBANKER
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