Research Initiatives

HAC's Analysis of CRA in Rural America

HAC Provides Analysis of CRA in Rural America

The Housing Assistance Council is pleased to present a series to resources related to the Community Reinvestment Act (CRA) and its application in Rural America. The Community Reinvestment Act (CRA), adopted in 1977, requires federally-insured depository institutions to help meet the credit needs of their entire communities, including low- and moderate-income neighborhoods. Assessments of CRA’s scope and effectiveness are typically conducted at a market-specific level, and those markets analyzed are almost exclusively metropolitan or urban in nature. Very little is known about the implementation of CRA in the rural context.

Reports

alt CRA in Rural America:The Housing Assistance Council (HAC) conducted a general assessment to provide a better understanding of CRA’s implementation in rural communities. The report focuses on mortgage lending and CRA.
alt Making CRA Work in Rural America: Partnerships and Opportunities for Rural Community Reinvestment This report serves to increase our knowledge of how CRA can work in rural areas by focusing on four successful rural community development projects. The case studies in this report explore a preschool expansion in Maine, construction of rental housing for farmworkers in Colorado, construction of low- and moderate income housing in Minnesota, and the donation of a bank branch to a local credit union in Mississippi.
alt Making CRA Work in Rural America: Finding “Outstanding” Financial Institutions This report takes a closer look at lenders who consistently excel in meeting their CRA obligations. Is this a common phenomenon? Are there things which these lenders have in common? This research begins a discussion about how we can learn from those lenders which already do an outstanding job of providing credit to all of their service areas.

“The CRA will make a good project better, but not a bad project good”
– Greg Hohlen, Bremer Bank

CRA Webinar Series

alt CRA in Rural America: The Housing Assistance Council (HAC) conducted a general assessment to provide a better understanding of CRA’s implementation in rural communities. The report focuses on mortgage lending and CRA.

alt CRA Investments in Rural Communities: Successful Uses: This webinar explores two successful rural development projects that earned CRA credit for the lenders involved. The discussion includes parties involved with a preschool project. In each case, the participants will briefly describe the CRA’s role in their project.

alt CRA in Rural America Part III: Investments in Rural Communities: This webinar examines CRA rated outstanding lenders. The webinar includes an evaluation of lenders that consistently earn CRA outstanding ratings. The presentation identify consistently rated outstanding lenders, describe their characteristics, and identify key aspects that are related to their outstanding performance. The webinar includes a panel to discuss the CRA and rural communities.