The Community Reinvestment Act (CRA) was enacted in 1977 to encourage financial institutions to help meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods.
The CRA provides a framework for depository institutions and community organizations to work together to promote the availability of credit and other banking services to under-served communities.
At Signature Bank, our approach to CRA and Community Development is based on forming strategic partnerships to meet the credit needs of individuals, businesses, municipalities and community-based organizations. We make available a diverse array of loan, investment and service products for our many constituents. In addition, we provide technical assistance, training and grants to individuals and not-for-profit organizations active in meeting the needs of the community.
Signature’s Community Development Officer (CDO) serves as the community’s link to the expertise and financial products that the Bank offers. The CDO is also committed to becoming a part of the community on behalf of the Bank through involvement in community activities and by serving on the boards of community-based organizations. Through the CDO’s active participation at the local level, Signature Bank has developed a first-hand understanding of the banking needs facing our neighbors and communities.
To learn more about how Signature Bank’s products, programs and resources can help strengthen your community, contact:
Michael Schwartz, Vice President
Director of Community Development
565 Fifth Avenue
New York, New York 10017