COMMUNITY

Community Reinvestment Act (CRA)

State Farm Bank® and Community Reinvestment Act (CRA) meet the credit and banking needs of entire communities.

State Farm Bank strives to exceed the requirements of the Community Reinvestment Act (CRA), created to encourage financial institutions to meet the credit and banking needs of entire communities — including low and moderate income (LMI) areas and individuals consistent with safe and sound banking operations.

The CRA provides a framework for banks and community organizations to work together to meet these needs. According to the CRA regulation, the definition of community development includes:

  • Affordable housing (including multi-family rental housing) for LMI individuals
  • Community services targeted to LMI individuals
  • Activities that promote economic development by financing small businesses or small farms
  • Activities that revitalize or stabilize LMI geographic areas

State Farm Bank falls under the CRA regulatory guidelines established by the Office of the Comptroller of the Currency (OCC). The bank's performance is reviewed by the OCC every 24 to 36 months.

State Farm Bank's management does not view CRA as a duty, but instead links the spirit of the law to its parent's historical commitment of helping to build communities by expanding upon conventional ways of doing business.

Click here to view our Community Reinvestment Act (CRA) Public Notice [PDF-168.1KB].

State Farm Bank, Bloomington, Illinois, a Member FDIC and Equal Housing Lender.

Community Reinvestment Act

The Community Reinvestment Act (CRA) was enacted in 1977 to encourage financial institutions to help meet the credit needs of their communities, including low- and moderate-income neighborhoods, consistent with safe and sound lending practices.

Learn more about CRA