Earn CRA Credit Through Strategic Deposits
Financial institutions may receive secure Community Reinvestment Act (CRA) Investment credit by placing deposits with certified Community Development Financial Institution (CDFI) banks, such as Sunrise Banks, subject to regulatory review. As a CDFI bank, we direct at least 60% of our loans to low-and-moderate income communities. Because community development is our primary mission, deposits placed with Sunrise Banks may be recognized as qualified investments by federal regulators. Your money is never neutral. Every deposit is a decision, and at Sunrise Banks, we make sure that decision counts. We channel the collective power of our customers’ financial choices to ignite meaningful progress that supports our communities.
Align your deposits with measurable impact through our ethical banking products:
Community Impact Deposits
Turn your Sunrise Banks account into a meaningful way to drive local community development. You choose to designate your deposits to projects like affordable housing, community services, and small businesses. Any deposit including CDs can qualify. Our latest Impact Report highlights the total amount of Community Impact Deposits to date and showcases the meaningful difference Sunrise customers’ deposits are making in our communities.
Advancing Communities Together (ACT) Deposits Program
Similar to our Insured Cash Sweep (ICS)® service, when we place your deposit through the IntraFi® network, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 behind the scenes. The amounts are then placed into deposit accounts at multiple FDIC-insured IntraFi network banks while maintaining a single way to view and manage your funds—through your existing relationship with Sunrise Banks. When structured appropriately, ACT deposits placed with certified CDFIs or MDIs may be eligible for CRA Investment Test consideration, subject to regulatory review.
Frequently Asked Questions
The CDBA is the national trade association for CDFI banks. CDFIs are U.S. Treasury-certified institutions that provide financial services in distressed and underserved communities. They facilitate programs like the ACT Deposit Program, which helps standard banks fulfill CRA obligations by placing secure deposits into certified CDFIs and Minority Depository Institutions (MDIs).
Yes. The OCC and FDIC confirm that “loans to and investments in qualifying CDFIs” (including deposits) as eligible for CRA consideration. This includes activities within a bank’s existing assessment area or in a broader statewide or regional area that includes the bank’s assessment area.
CRA-eligible deposits can take the form of Certificates of Deposit (CDs), money market accounts, or checking/savings accounts held at qualifying CDFIs.
Key Reference Materials & Links
- FDIC CDFI Overview (Updated 2024): The FDIC CDFI Overview explicitly lists deposits as one of the three primary forms of CRA-qualified CDFI financing support.
- OCC Partnership Fact Sheet: The OCC Bank Partnerships With CDFIs Fact Sheet explains how national banks can use these partnerships to promote economic revitalization and receive CRA credit.
- CRA eligibility and credit determination are subject to regulatory interpretation and examination findings