The Community Reinvestment Act (CRA), enacted by Congress in 1977, mandates that depository institutions satisfy the credit needs of the communities in which they offer banking services, particularly low- and moderate-income individuals and neighborhoods. The ability of depository institutions to demonstrate that they understand the credit needs of their communities and actively participate in satisfying those needs through loans, grants, investments, and services is examined. In practice, regulators acknowledge that institutions will approach CRA requirements differently. This distinction results in distinct examination methods (big or small retail, special purpose, wholesale, and strategic plans) as well as differing emphasis on lending, investment, and services for each inspection method. Gazelda has received an Outstanding rating for our CRA efforts for the past 20 years.
The evaluation of Gazelda is based on the volume of its CRA-qualified investments, community development loans, grants, and services in low- or moderate-income regions. In addition, creative or complicated tasks are weighed more heavily than other activities.