Independent Banker - June 2019 - 62

ADVERTORIAL SPOTLIGHT
Banker
Innovation
Guide
Using CRA to create community at your
community bank
CHALLENGE: Community banks spend too much time managing spreadsheets for CRA compliance and receive no
added marketing benefits.
SOLUTION: Community, a product by social Assurance, makes CRA compliance easy and uses community involvement
as a core marketing opportunity.
Today, over 30 years after the
Community Reinvestment Act (CRA)
was put in place, reform is now taking
place at community banks. This reform
is happening not only because of the
law, but also because of the eff ort
on behalf of CRA off icers to comply.
But what if we thought of CRA as a
gift? What if collectively, CRA was the
defining opportunity to elevate the
status of a community bank? As we
embrace the positives of CRA, there
are three trends that can play into a
community bank's success:
Millennial employees want to see
the purpose behind the bank. These
employees are purpose-driven and
want to be a part of a bigger vision.
When a community bank supports
employee involvement in their
cities or towns, employees (and the
community) take note.
WE BELIEVE THAT COMMUNITY
BANKS' ROLES CAN BE
ELEVATED WHEN WE COMBINE
MARKETING AND COMMUNITY
customers and community leaders
about what we are doing. When we
embrace that, the storytelling we share
in our documentation helps empower
our whole organization.
" Local " is the purchasing decision
consumers are proud to be a part of.
Local is the competitive advantage.
Consumers are increasingly looking
to make a social impact with their
money and be more connected to
the outcomes it produces. It's the
reason we see entrepreneurs starting
businesses like Toms shoes, Warby
Parker and other social veenturees.
What better way to help consumers
see the importance of working with a
community financial institution?
A community needs to be a part of
the narrative of a community bank.
We often separate the importance
of documenting everything in CRA
from the roles we have in telling our
With the elevated emphasis on CRA
and increasing benefits driving local
marketing, we at Social Assurance
are helping banks to automate these
processes, replacing folders full
of Excel Spreadsheets. We remain
committed to helping financial brands
meet the needs of their communities
through better software.
While our hope is that CRA will
become a more exacting regulation
with more clarity, we believe that
community banks' role can be
elevated when we combine marketing
and community. When people
hear the success stories of their
community bank, they can grasp the
true generosity, growth and value of
their local community bank. We look
forward to making it easier to create
community through functional tools
that help you scale your community
and market with confidence.
(402) 875-5636 / socialassurance.com
info@socialassurance.com
151 N. 8th, Suite 300, Lincoln, NE 68508

http://www.socialassurance.com

Independent Banker - June 2019

Table of Contents for the Digital Edition of Independent Banker - June 2019