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#2264527 - 01/10/22 05:59 PM CRA and Director Community Services
Sheba Offline
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Sheba
Joined: Mar 2002
Posts: 73
Oz
If members of your bank board of directors are involved in activity that would qualify as CRA community development, for example working with a group that helps small startups by providing various training and workshops, do you include that board member's activities in your list of qualified community development services? If yes, do you provide some some of survey or questionnaire periodically to document their activity? Thanks for the assistance. It has been a while since I have worked with CRA.

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#2264531 - 01/10/22 07:07 PM Re: CRA and Director Community Services Sheba
Norman Paperman Offline
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Norman Paperman
Joined: Aug 2012
Posts: 1,656
48.934476, -114.343735
My approach, and the guidance as far as I know, has always been that unless the work is being performed on behalf of the bank and on bank time, it doesn't count. Unless your director is a paid employee and this activity occurs on the clock, it won't count toward those hours. Is it worth mentioning; maybe.
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#2264537 - 01/10/22 07:37 PM Re: CRA and Director Community Services Norman Paperman
Sheba Offline
Member
Sheba
Joined: Mar 2002
Posts: 73
Oz
Thanks Norman,

Years and years ago, I used to include the information, but given the current definition and your confirming response, it would be hard to prove it was for bank and not personal reasons. I think if my management does want to collect it anyway, it can be used to show that my board is aware of the needs of the community that we serve and are involved at a personal level. Thank you for your assistance in this matter. Appreciate it.

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#2264669 - 01/12/22 05:06 PM Re: CRA and Director Community Services Sheba
Len S Offline
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Joined: Oct 2004
Posts: 1,945
Connecticut
Any volunteer for a community group that is involved because the bank considers it a responsibility for their employees to be involved in the community should have the organization either list them as volunteers (especially at the director level) with their bank title or send them a thank you letter to their address at the bank. Don't forget also that you need to be volunteering related to financial activities (treasurer or fund raiser for example) or related to their professional expertise (legal advice from a lawyer for example).
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