Thread Options
|
#1486128 - 12/28/10 04:06 PM
member of service org. count?
|
Power Poster
Joined: Apr 2005
Posts: 4,013
|
SOme officers are members of Lions, Kiwanis, Rotary. Can we report this for CRA or do we have to drill down to specific activities, i.e. Board member of XYZ charity. Servied on soup kitchen activity during thanksgiving. I thought the activities had to be specific and that simply being a member of these types of organs. wasn't reportable for CRA consideration.
|
Return to Top
|
|
|
|
#1486159 - 12/28/10 04:25 PM
Re: member of service org. count?
Trees
|
10K Club
Joined: Aug 2002
Posts: 34,318
under the Lone Star
|
None of those organizations listed have a primary purpose of "community development" or meeting the needs of low to moderate income. They typically serve all people in need, regardless of income. That has been my experience with these organizations.
Take a look at the mission statement.
Even the specific activities you listed would not get you CD Service Test credit. They are not using your banking skills (financial in nature).
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.
|
Return to Top
|
|
|
|
#1486398 - 12/28/10 07:41 PM
Re: member of service org. count?
Pale Rider
|
Power Poster
Joined: Apr 2005
Posts: 4,013
|
We never interpreted the service test to focus solely on banking skills. We have a number of people who serve on boards, etc. and not in a financial oversight capacity. this has not come up before. I wanted to check to make sure the def. was not more borad than I originally interpreted it to be. I agree with your first point - simply being a member and attending meetings does not fit. Thanks
|
Return to Top
|
|
|
|
#1486460 - 12/28/10 08:11 PM
Re: member of service org. count?
Trees
|
10K Club
Joined: Aug 2002
Posts: 34,318
under the Lone Star
|
By definition, serving on a board is using your banking expertise (reviewing financials...that sort of thing). So if the organization's purpose meets the definition of community development, serving on its board of directors should qualify for CD Service Test credit.
But back to the original question, I do not believe serving as a dues paying member of the Lions Club, Kiwanis, or the Rotary Club will get the bank any CRA credit. None of the specific activities these service organizations typically engage in would get the bank any CRA consideration either. It would be similar to swinging hammers at Habitat, it may be the right thing to do in your community, but it is not a service that is CRA eligible.
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.
|
Return to Top
|
|
|
|
#1486579 - 12/28/10 10:00 PM
Re: member of service org. count?
Kathleen O. Blanchard
|
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
|
I got this to qualify earlier this year, but it was very difficult. My argument was...
"One employee is a Board member and, in 2009, was directly involved in the fundraising efforts to build the XX River Walk, which is a scenic trail for walking, running, biking, and rollerblading in downtown CITY. The walk has revitalized low- and moderate-income geographies in CITY. [I provided a map showing that the walk went through low income tracts and every article I could find on the project.] Additionally, the employee’s efforts are recognized in Rotarian projects, such as providing college scholarships to “at need” students, organizing an annual blood clinic with services provided at low costs to help underinsured individuals get important health tests, hosting a Christmas party for disadvantaged children, and fundraising for a food drive for the XX Food Bank."
If you're short on services and can document the heck out of the projects, give it a try. Otherwise, don't waste your time.
I also agree that being a Board member is a better argument than a member.
Last edited by Kelsey D; 12/28/10 10:02 PM.
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.
|
Return to Top
|
|
|
|
#1493252 - 01/11/11 06:52 PM
Re: member of service org. count?
Cornfed Turtle
|
Platinum Poster
Joined: Jan 2004
Posts: 778
|
In order to get these services counted, should the service be performed on bank time or should the employee be considered as representing the bank?
We have a number of employees that serve on boards of local non-profits, head up fundraisers, and, yes, swing hammers, but they do so on their own time and w/o wearing their bank logo.
Typically, it is on bank time or representing the bank. However, the spin is for example: that an individual’s employment at ABC bank may prompt non-profits to solicit the employee's involvement on their Board. (Without employment at ABC Bank (high profile or leadership), they would not have been asked to serve on the Board). Additionally, even though the Board may meet "after bank hours", we consider the employee representing the bank. Regarding swinging a hammer, examiners do not consider this type of activity for CRA Service Credit (must be financial in nature).
|
Return to Top
|
|
|
|
|
|