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#2277211 - 10/27/22 06:07 PM CD Services
Tennismom Offline
Platinum Poster
Tennismom
Joined: Jan 2004
Posts: 778
Any recall about CRA Service Activities that are not related to a financial provision?

Believe there was Q and A surrounding service activities could consist of your employee skill set, which may not be related to financial activity.

For example an HR or IT Associate providing support to an organization… not necessarily financial related.

Please point me to the guidance. Thanks.

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CRA
#2277250 - 10/27/22 08:47 PM Re: CD Services Tennismom
COMPL101TX Offline
100 Club
Joined: Apr 2018
Posts: 108
Here you go:

§ 345.12(i)--3: What are examples of community development services?

A3. Examples of community development services include, but are not limited to, the following:

* Providing technical assistance on financial matters to nonprofit, tribal, or government organizations serving low- and moderate-income housing or economic revitalization and development needs;

* Providing technical assistance on financial matters to small businesses or community development organizations, including organizations and individuals who apply for loans or grants under the Federal Home Loan Banks' (FHLB) Affordable Housing Program;

* Lending employees to provide financial services for organizations facilitating affordable housing construction and rehabilitation or development of affordable housing;

* Providing credit counseling, home-buyer and home maintenance counseling, financial planning or other financial services education to promote community development and affordable housing, including credit counseling to assist low- or moderate-income borrowers in avoiding foreclosure on their homes;

* Establishing school savings programs or developing or teaching financial education or literacy curricula for low- or moderate-income individuals; and

* Providing foreclosure prevention programs to low- or moderate-income homeowners who are facing foreclosure on their primary residence with the objective of providing affordable, sustainable, long-term loan modifications and restructurings.

Examples of technical assistance activities that are related to the provision of financial services and that might be provided to community development organizations include

* serving on the board of directors;

* serving on a loan review committee;

* developing loan application and underwriting standards;

* developing loan-processing systems;

* developing secondary market vehicles or programs;

* assisting in marketing financial services, including development of advertising and promotions, publications, workshops and conferences;

* furnishing financial services training for staff and management;

* contributing accounting/bookkeeping services;

* assisting in fund raising, including soliciting or arranging investments; and

* providing services reflecting a financial institution's employees' areas of expertise at the institution, such as human resources, information technology, and legal services.

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#2277381 - 10/31/22 06:11 PM Re: CD Services Tennismom
Tennismom Offline
Platinum Poster
Tennismom
Joined: Jan 2004
Posts: 778
Thank you

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