Find out how to leverage your CRA actions to create worth in your financial institution and your communities
In case you are a pacesetter at a monetary establishment, you already know that the Group Reinvestment Act (CRA) is greater than only a regulatory requirement. It’s additionally a chance to:
- Construct belief and loyalty with clients whereas demonstrating your dedication to the financial well-being of the communities you serve.
- Showcase your model identification and values via your CRA actions and attraction to clients and staff who share your imaginative and prescient of social influence.
- Supply modern options that meet the wants of your goal markets by integrating your CRA actions together with your core services.
Adjustments Incoming
The brand new CRA ultimate rule issued in October 2023 goals to supply extra readability, consistency, and transparency in how banks are evaluated and rated for his or her CRA efficiency. Whereas most of the new necessities within the ultimate rule don’t take impact till 2026 and even 2027, banks are nonetheless obligated to stick to the CRA and display how they’re positively impacting the communities they serve.
With the rule change in thoughts, this whitepaper affords 4 sensible tricks to leverage your present CRA actions to create much more worth in your financial institution and stakeholders, whereas complying with regulatory necessities and expectations.
The Takeaway
Navigating the upcoming modifications within the CRA is usually a complicated and difficult course of, particularly given the uncertainty and volatility within the present atmosphere. That’s why banks want dependable and trusted companions that may assist them obtain their CRA targets and optimize their efficiency.
By leveraging the experience supplied by the staff at EVERFI® from Blackbaud® and YourCause® from Blackbaud®, banks can’t solely navigate the CRA rule, but in addition improve their CRA technique and efficiency whereas creating worth for his or her stakeholders and communities.
Go in-depth with 4 tricks to increase your CRA influence by downloading the total whitepaper.
