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#2148912 - 10/05/17 08:35 PM Paying Employees Incentive for CRA Activities
Breeco Offline
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Breeco
Joined: Aug 2014
Posts: 91
Nebraska
I cannot find anything in the act that indicates there is a prohibition to provide monetary incentives to employees for CRA covered volunteerism. Like paid time off, gift cards or a drawing for a larger cash prize. Can anyone tell me if this is allowed under CRA rules?
Last edited by MiniMee; 10/05/17 09:07 PM.
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#2148962 - 10/06/17 12:34 PM Re: Paying Employees Incentive for CRA Activities Breeco
Monster Offline
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Joined: Sep 2015
Posts: 453
Imagine if it wasn't, would you Not pay them if it was during business hours? If anything, the bank is even more committed - investing additional dollars.

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#2148974 - 10/06/17 01:09 PM Re: Paying Employees Incentive for CRA Activities Breeco
complymuch, crcm Offline
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Joined: Apr 2013
Posts: 79
FL
I'm not sure I'd categorize it as volunteering since they are being monetarily compensated.
Last edited by complymuch, crcm; 10/06/17 01:10 PM.
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#2149004 - 10/06/17 02:24 PM Re: Paying Employees Incentive for CRA Activities Breeco
InFairness, CRCM Offline
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InFairness, CRCM
Joined: Nov 2010
Posts: 584
USA
At my former employer, we received 2 days "off" with pay that we could use for volunteer activities. We also had drawings for gift cards, logo items, etc., for people that completed volunteer activities that were CRA-qualified.
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#2149020 - 10/06/17 03:09 PM Re: Paying Employees Incentive for CRA Activities Breeco
Monster Offline
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Joined: Sep 2015
Posts: 453
Complymuch, I see what you're saying - but think of it this way, the bank is volunteering its staff. The employees are being paid, but not to work their daily jobs.

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#2149291 - 10/10/17 06:42 PM Re: Paying Employees Incentive for CRA Activities Breeco
RR Jen Offline
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RR Jen
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Our team earns points for volunteering after hours. These points can be used to redeem gift cards, logo wear, and even banked to earn time off.

For volunteer hours to count for CRA credit, it must be on behalf of the bank. During the day, teaching a financial literacy class at a school while on the clock is very clearly community service "on behalf of the bank". We are incenting them to do so after hours and adding a little support to the on behalf of the bank hook.
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#2149952 - 10/16/17 06:07 PM Re: Paying Employees Incentive for CRA Activities Breeco
Breeco Offline
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Breeco
Joined: Aug 2014
Posts: 91
Nebraska
Thanks for the input!!!

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