What is the Community Reinvestment Act of 1977?
Congress enacted the Community Reinvestment Act of 1977 to encourage financial institutions to meet the credit needs of the communities in which they operate. The exam measures a number of factors:
- The depth of a bank's community development lending
- The distribution of small business and home mortgage loans in local communities
- The availability of bank branches and services in low- to moderate-income neighborhoods
- The bank's commitment to serving the community through volunteerism and by providing financial education
M&T's "Outstanding" Community Reinvestment Act (CRA) Rating
M&T has a long history of providing financing and making investments that expand affordable housing and support the growth of small business. We've established a clear track record for facilitating the purchase and rehabilitation of housing for our neighbors and for generating economic activity in our communities. And we provide access to a full range of banking products and services through convenient
banking locations across our entire footprint.
As a result of this steadfast commitment, M&T Bank has earned the highest "Outstanding" rating awarded by the Federal Reserve Bank of New York for each of our periodic performance evaluations since 1989.
The most recent 2013 rating reflects M&T's community development performance through June 30, 2012 and mortgage and small business lending performance through December 31, 2011. M&T's significant community reinvestment achievements cited during the 30-month exam period include:
Extending more than $3.2 billion in community development loans
Good responsiveness to community credit needs with more than $465 million qualified investments over the examination period
Using $398 million of the total investments to support the construction of affordable housing units for low-income individuals (those earning less than 80% of the average U.S. median income)
Providing financial or volunteer assistance for 3586 events supporting the bank's service areas
For a copy of the M&T Bank Community Reinvestment Act performance evaluation, stop by an
M&T Bank Branch.
In addition to our Community Reinvestment performance record, M&T Bank has also been acknowledged for its level of
charitable giving. Every year, we direct a significant portion of our contributions to agencies and programs that improve the quality of life for low- and moderate-income communities.
M&T also supports its communities through lending and investments, which bolster small businesses and create jobs. Through these actions and initiatives, M&T Bank works hard every day to understand – and support – what's important to each of the communities we serve.