Pub. 6 2015 Issue 4

www.wvbankers.org 28 West Virginia Banker C RA compliance has become a major undertaking, consuming endless hours of staff time and management’s attention. And when the examiners come, the data must be properly organized to make sure the bank gives a complete and detailed picture of their efforts or it can have a tremendous impact on the outcome of your next examination. Many community banks are experiencing the pressure of tougher enforcement of CRA regulations during their examina- tions and are being expected to do more to earn a Satisfactory rating not to mention an outstanding rating. Bankers are finding it more difficult to find high quality, low- risk CRA community development loans, investments or grants. Some of the reasons for lack of CRA opportunities being given today are the bursting of the real estate bubble which caused a downturn in the real estate market for the last several years, interest rates being the lowest in decades, and the banking industry shrinking due to mergers and acquisitions. It has made many of the community development opportunities that banks used to count on deemed as “high-risk”, which is not a favorable place for most banks to invest their money in these days. The Senior Housing Crime Prevention Foundation’s mission is to provide safe, secure living environments to low- and moderate-income individuals to promote a higher quality of life for those who are the most vulnerable through sponsor- ship of the nationally-acclaimed Senior Crimestoppers program in a bank’s CRA assessment area. This program protects those living in nursing homes, HUD com- munities, and state Veterans homes and is deemed a qualified CRA activity as sited in the most recent Federal Register. Participating banks enjoy: • Guaranteed CRA credit • Flexible funding options • Proven, turn-key programs which require no administrative burden • Detailed LMI documentation for the bank’s CRA exam • Recognition of providing improved quality of life programs for LMI elderly residents • Complimentary copy of the Prevent- ing Elder Financial Abuse Toolkit • Positive public relations exposure for taking care of the elderly in your community Edward J. Gentry, Chairman, President and CEO of the Senior Housing Crime Prevention Foundation explains, “Crime, specifically against the elderly, is a rapidly growing problem in our country, and the Foundation is dedicated to providing the Senior Crimestoppers program to help our nation’s elderly living in long term care facilities feel safe and secure so they can live the rest of their lives with dignity and a better quality of life. It’s vital that all banks bank have an activity like this in their CRA portfolio because the elderly population is going to triple within the next 20 years.” Involvement in the Foundation is easy! A bank sponsors a nursing home, HUD community or state Veterans home in its assessment area and has the flexibility to choose whether to structure its commit- ment as a community development loan, investment, or grant depending on the bank’s need or preference for CRA credit. Once the bank’s financial commitment is in place, the Foundation will collaborate with the bank to identify nursing homes or Veterans homes for the bank to spon- sor. From there, we do all of the work, in terms of implementing the Senior Crimes- toppers program in the facilities, training the staff, and coordinating a public event where we announce to the community what the bank has done for its sponsored facility. Three West Virginia banks have loaned, invested or granted over $600 thousand to protect over 250 seniors not only to gain CRA credit but because it is the right thing to do for the elderly living in West Virgin- ia’s nursing homes, HUD communities and state Veterans homes. As an FDIC Money Smart Partner and a trusted provider of elder abuse preven- tion in our nation’s senior care facilities, bankers rely on the Senior Housing Crime Prevention Foundation as a resource for information on a wide range of issues both inside and outside of a traditional long- Earning CRA Credit is Easy When You Partner with the Senior Housing Crime Prevention Foundation