After collecting information about existing employee involvement through board service and volunteerism, it’s apparent you need to increase your bank’s community development services…but where do you start?

First, look at your bank’s existing community development services and consider whether you can expand or deepen that relationship by providing additional services. Is the organization looking for new board or committee members with financial expertise? Could their clients benefit from financial capability workshops or workforce development support such as resume reviews?

Second, are there local affiliates of national organizations that you might be able to support in each of your assessment areas? Through Junior Achievement your employees could teach a curriculum focused on financial literacy and career readiness in local schools with free-and-reduced-lunch rates greater than 51%. Through Habitat for Humanity, an employee could review homeowner applications to ensure applicants can afford the mortgage while serving on a Family Selection Committee.

Third, don’t be afraid to get creative! Consider meeting with the local community foundation or United Way chapter to learn about the greatest needs in the communities you serve. Oftentimes these organizations are the first to know about board or committee opportunities in the community and can direct you towards organizations that serve low-to-moderate-income individuals or small businesses and that align with CRA community development purposes.

The sky is the limit to what you could build together! For some inspiration, read the OCC’s Financial Capability Fact Sheet.

https://www.occ.gov/publications-and-resources/publications/community-affairs/community-developments-fact-sheets/pub-fact-sheet-financial-capability-jan-2019.pdf

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