Career Story: Community Reinvestment Officer For A Bank

Community Reinvestment Officer For A Bank

Job Title: Community Reinvestment Officer

Type of Company: The company I work for is a full service, large regional bank

Education: BA, Government & Public Administration, The American University •• MCp (Masters, City Planning), University of Pennsylvania

Previous Experience: I have been involved in planning, housing and community development work for most of my professional life, in a variety of venues including government, private development and not-for-profit policy organizations. I also did consulting in the field.

Job Tasks: The Community Reinvestment Act is a federal law that requires that financial institutions make their lending facilities and other programs available to all parts of the community in which they do business, and develop programs and products that target under-served groups. As a Community Reinvestment Officer, I am responsible for assisting in developing these programs, to be the "face" of the bank in the community, to be involved in community based organizations that serve low and moderate income people or neighborhoods, to assist first time home buyers, to encourage volunteerism among the bank staff, and to find opportunities for all business lines in the bank to do community reinvestment eligible lending. As part of my duties, I also monitor our home mortgage data to see how we are performing with lending to low and moderate income households and lending in low/moderate income neighborhoods. Additionally, I monitor community reinvestment lending in the commercial real estate, commercial banking and small business banking parts of the bank. A major part of my responsibility as Community Reinvestment Officer is participating on our charitable contributions committee where requests for funds from organizations are reviewed and okayed.

Best and Worst Parts of the Job: The best parts of my job include being involved with not-for-profit organizations that do many good works in the community, especially those that are involved in human services and housing. I also enjoy developing and implementing new programs that enhance the bank's role in the community and bring more of the bank's services to people and neighborhoods that are under-served by financial institutions and programs.

There is no really "worst" part of my job. I would say that the most frustrating thing I sometimes have to deal with is the bank's occasional inflexibility in developing the necessary programs or infrastructure that could help our communities.

Job Tips:
1. Learn how to write well, and to write persuasively.

2. The job requires doing many different things on any given day. Be organized, flexible and always, always follow up on things.

3. Have a genuine and sympathetic knowledge of not-for-profit organizations and what their missions are in your community.

Additional Thoughts: What has surprised me the most about this career is the respect I get from my colleagues. Community Reinvestment is not something most bankers like to deal with because it does not return value to the bottom line immediately. However, I have been able to bring them around and convince them that our CRA ratings have to stay high -- the federal government audits a bank's CRA efforts every two years and scores us. And I've been able to show them how a sensitivity to community reinvestment activities does generate business in the medium-long term.

Popular Schools offering Banking Programs

quickinfoThese schools offer particularly quick info upon request, and we have written detailed profiles for each (click school names to see the profiles).

Request info from multiple schools, by clicking the Request Info links.

Matching School Ads

Baker College is proud to be the largest independent college in Michigan with the most focused approach to education and training available. With one of the highest graduate employment rates in the country, our mission is to help our students find meaningful employment.

  • Programs: Finance - Bachelor, Finance - MBA (Master's), Accounting - Associate, more...
  • Degrees: Bachelor, Master, Associate

Study online with University of Maryland at College Park.

  • Programs: MBA - Finance, MBA - Accounting
  • Degrees: Master

Founded in 1872, Maryville University is a four-year, private university located in west St. Louis County.

  • Programs: Online Master of Business Administration Financial Services Concentration, Online Master of Business Administration Accounting Concentration
  • Degrees: Master

Welcome to Argosy University

Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges:  College of Behavioral Sciences, Graduate School of Business and Management, College of Education,  College of Health Sciences, College of Arts and Sciences, College of Creative Arts and Design, College of Clinical Psychology and Western State College of Law at Argosy University as well as certificate programs in many areas.

  • Programs: Business Administration - Finance (BS) (Online), Business Administration - Accounting (BS) (Online)
  • Degrees: Bachelor

Colorado State University-Global Campus

Colorado State University-Global Campus (CSU-Global) recently received state approval to enroll students with little to no prior college experience. To help ensure student success, the university has created a program especially for these students who plan on starting their college experience for the first time with us.

  • Programs: Master - Finance, Master - Professional Accounting, BS - Accounting
  • Degrees: Master, Bachelor

Lower Tuition Cost Than Many Other Universities.  Classes Start Soon.

  • Programs: Bachelor of Science in Accounting, Master of Science in Accounting, Master of Business Administration in Accounting
  • Degrees: Bachelor, Master

Johns Hopkins University Carey Business School has brought the philosophy of business with humanity in mind to a part time format.

  • Programs: Flexible MBA - Financial Business, Master of Science in Finance
  • Degrees: Master

Earn your graduate degree online with Northcentral University.

  • Programs: Financial Management - PhD in Bus. Admin., Financial Management - D.B.A., Advanced Accounting - PhD in Bus. Admin., more...
  • Degrees: Doctorate

Discover the Difference a Community of Support Makes in Your Educational Journey. From Application to Graduation, the Support You Need to Achieve Your Goals. 100% Online.

  • Programs: BA in Business Administration/Finance , AS in Accounting, BS in Accounting, more...
  • Degrees: Bachelor, Associate
Golden Gate University
Los Angeles, San Francisco, Santa Clara

Since 1901, Golden Gate University (GGU) has been helping adults achieve their professional goals by providing education in accounting, law, taxation, and business-related areas.

  • Programs: Finance, Financial Planning, Accounting
  • Degrees: Master, Bachelor
Matching School Ads

Additional Career Stories for Loan Officers

The inside stories from people actually working in the field.
Click a story title to show the story, and click the title again to hide it.

All Types

You are visiting:

Find a school near you

What are Career Stories?

Career Stories are concise, real-world career overviews written by people relating their personal career experiences and wisdom. They provide invaluable insights and mentoring advice to students and career changers.

Most stories include:

  • a typical day or project
  • tips and advice
  • best and worst parts
  • educational background
  • previous experience

Browse hundreds of Career Stories

More Details On This Career

Please also see our detailed information about Loan Officers, including:

Back to Top
SPEAK TO AN ADVISOR 1.844.285.6104