Senior Crimestoppers CRA Partner Program

This is program is true and dear to our hearts. Our seniors hold a special place in our communities. The CRA Programs helps financial institutions become involved in the community to help better the lives of those we hold dear. 

Your bank can provide protection and an enhanced quality of life for vulnerable senior housing residents in your community. Senior Crimestoppers is a nationwide crime prevention program educating and safeguarding against theft, abuse and neglect.

Funded completely by the banking industry through the Senior Housing Crime Prevention Foundation’s CRA Partners program. Serving residents, staff, management, family and visitors in nursing homes, assisted living communities, independent living communities, HUD communities and veteran’s homes. The mission of the Senior Crimestoppers CRA Partner program is to provide protection and an enhanced quality of life for vulnerable senior housing residents through a meaningful turn-key CRA compliance solution for community focused banks.

Participating banks choose between making CRA-qualified community development loans, investments or grants to the Foundation for CRA credit. Each bank’s choice depends on which CRA credit component it wishes to enhance. The CRA Partners program is a 100% turnkey solution: a bank has no work, administrative burden or overhead.

Banks earn CRA credit in the form of CRA-qualified loans, investments or grants through the installation and operation of the nationally acclaimed Senior Crimestoppers program. This program provides safe and secure living environments for our nation’s low- and moderate-income senior housing residents in nursing homes, HUD communities, and Veterans homes in each participating bank’s assessment area.

The Senior Crimestoppers CRA Partner Program is supported by the ICBA and the ABA and have strong relationships with 30 state bankers associations. Proudly partnering with over 225 banks to help enhance the lives of vulnerable senior housing residents, the CRA Partner Program truly is a nationwide banking industry initiative. It is hard to overstate the transformative effect your bank can have on the life of senior citizens by removing the fear of theft and neglect from their lives while also earning CRA credit for your bank.

 

TRANSACTION PROCESS

Once the bank completes the first two steps, CRA Partners can rapidly implement the CRA credit program, even under tight deadlines.

  • Bank underwrites a loan or investment to SHCPF and commits to the funding.
  • Bank funds an amount sufficient to acquire a security with a minimum par value equal to the par value of the transaction. All dollars invested or loaned to the Foundation are fully collateralized with acquired investment-grade securities.
  • Proceeds from the funding are used to purchase a security at the bank’s discretion in the name of the SHCPF.
  • Security acquired is pledged by the SHCPF to secure the transaction.
  • Security is held by SHCPF’s custodian, Fifth Third Bank.
  • The Foundation receives coupon payment to support the Senior Crimestoppers program in low or moderate income (LMI) senior housing facilities.
  • Bank receives coupon, less SHCPF’s retention (1.25%) A bank investing or loaning funds to the SHCPF will be provided the entire balance of the yield from the collateral investment, less the Foundation’s retention.
  • The bank receives CRA credit for the amount invested and/or loaned, and the collateral is returned to the bank.
  • The bank may receive full CRA credit, renewable for each calendar year that the funds remain with SHCPF.

 

ABOUT THE CRA PARTNER PROGRAM

Senior Crimestoppers CRA Partner Program is supported by the ICBA and the ABA and have strong relationships with 30 state bankers associations. Proudly partnering with over 225 banks to help enhance the lives of vulnerable senior housing residents, the CRA Partner Program truly is a nationwide banking industry initiative. It is hard to overstate the transformative effect your bank can have on the life of senior citizens by removing the fear of theft and neglect from their lives while also earning CRA credit for your bank.

 

WHAT BANKS ENJOY

  • Guaranteed CRA credit on loan and investment tests
  • Opportunity for service test credit using the Preventing Elder Financial Abuse Toolkit to help prevent financial fraud
  • Flexible funding options that include CRA-qualified community development loans, investments, and grants.
  • Detailed LMI documentation for positive CRA exam reviews
  • Installation of a turn-key program with no overheard or administrative burden
  • Provision of enhanced quality of life programs including the Time of Your Life video series and Wish Comes True grant program for seniors to enjoy
  • Positive public relations exposure in their communities

 

POSITIVE COMMUNITY IMPACT

Participation in the CRA Partner program has several positive impacts on local communities. The proceeds from the loans and investment purchase instruments that help low- and moderate-income people find affordable housing, obtain low-interest home mortgages, receive affordable healthcare services, etc. The cumulative community impact through the collateral purchased on behalf of our bank partners is approximately $269 Million.

These are a few powerful ways the program impacts communities nationally:

  • 9,065 affordable rental housing units
  • 893 home mortgages for low- and moderate-income families
  • $250,000 in affordable healthcare services
  • $856,000 in economic development
  • $19.1 million in statewide homeownership programs and down payment assistance
  • $4.5 million in job creation and small business development
  • $25.3 million to states and municipalities for services to low- and moderate-income families.
 
 
 

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