I'm very new to CRA. Does a service performed by the bank need to involve some sort of financial benefit to qualify for CRA reporting? For example, if the bank sponsors a senior citizen's group event?

It would depend on what the event was. If it was just a party, no. If you did some kind of financial education, or investment seminar etc, then yes it would count.

Sponsoring is not a "service" it's an investment or grant (donation). That would fall under the CD investment category. If the seniors benefiting from the investment (or donation) were LMI then yes, it would have CRA CD benefit.

cra construction loan vs interim construction loan

Sorry Dawn, Did think about a financial sponsor. I was thinking more along the line of hosting.

What the heck is that next response?

I guess I read "sponsor" to be money, verses time. But heck, given that last post, maybe it's a loan

Anon, want to clear that up? We're both confused now

Unless there has been a change to CRA that I am not aware of, CRA services are not "reportable" although there is a CRA Service test for large banks. Services as measured under CRA correspond to any of the services you would offer your community. If you are questioning "community development" services or investments, they also are not reported (only cd loans) but you could get credit during an exam as explained by KC and Dawnie.

I guess I was thinking that the writer was using reporting to mean the same as counting. I use that term when I am talking about service that would count for CRA credit because I report it to the examiner for review.

KC, I know that you are very knowledgeable about CRA and know what you are talking about and I understood what you meant by your reply. Because the writer used the phrase "qualify for CRA reporting" and because she/he indicated she/he was "very new to CRA" I just wanted to make certain the questioner understands services don't get reported as such under CRA although they are an important consideration in CRA performance.

Well I'll agree in advance to disagree. Services (CD) and Investments are "reported" at examination time. While they are not submitted on the LR to the FFIEC they are a reported item for any CRA exam. The timing of the "report" or compilation of these services is different, but still a report is necessary.

Dawn, Thank you for summing up my response for me.

IMO there is a very big distinction between what is "reported" under CRA and what is "examined", otherwise why are there thousands of bankers hoping the proposed change in regulations will exempt them from "reporting" under CRA although they will continue to be examined under the Act. The original questioner used the term "reporting" which to me means "remitting" or sending the annual data. Because the original questioner admitted to being "very new" to CRA I wanted to make sure they understood that "services" are not "reported", i.e., remitted to the regulators with the annual data (although subject to examination as a large bank). I don't think it is helpful to equate giving examiners data during an exam with sending in the annual data as part of the bank's "reporting" responsibility. KC is very knowledgeable about CRA and has many threads to prove it. My point was not intended to contradict what she said, but to clarify what was an unwittingly confusing part of the original question by a neophyte to CRA. I hope my comments are taken as intended and do not offend anyone.