If they are raising money ("fundraiser") for a qualified community organization or activity it would qualify as CD for CRA purposes. If they are providing a "service" as bank employees it must be financial in nature or related to the expertise of the employee. My understanding of the question was the employees were gathering money and/or goods to be donated to a potentially qualified entity. Of course, the fact that the beneficiaries are vets, doesn't necessarily qualify unless you can show they are primarily low- or moderate-income people. When in reasonable doubt, claim the credit because you will never get credit for something you don't claim.
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