We’re excited to announce we’ve added a Community Reinvestment Act (CRA) solution to our suite of tools designed to help financial brands further connect with their communities. Our solution — Community — helps financial brands manage and promote CRA eligible services, donations, investments and loans.
Community addresses an important customer concern – providing a solution for banks that were tracking their CRA activities through spreadsheets, emails and old-fashioned paper. Community offers a central repository for all bank employees to enter potentially eligible services, donations, investments and loans for compliance eligibility review, approval and reporting.
“CRA has become a critical aspect in banking today and being able to have a straight forward way to manage the many areas of it are key,” Derek Randecker, First State Bank market president and CIO said. “From the time our employees give back to the community, whether they are volunteering or sitting on a board, to the tracking of the organizations we partner with through donations, all areas are priorities that we need to stay on top of.”
Social Assurance now works with more than 1,500 financial institutions on its platform, providing original solutions in addition to full financial marketing workflow solutions, CRA management and social marketing support services.
“Our brand’s mission is to provide tools that help financial brands scale their communities and market with confidence,” Social Assurance co-founder Ben Pankonin said. “Community is in our client’s DNA and in most cases, they don’t need to do more to be compliant, but quantifying and tracking can be time-intensive. We are excited to see the narrative shifting from compliance burden to a community success story.”
Want to learn more about Community? Click the link below for more information and to schedule a demo.