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News & Press: Executive Director

September 2017

Monday, September 25, 2017   (0 Comments)
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CRA Network of Wisconsin to Launch Soon

WEDA will launch several new programs in 2018 after building the foundation for these efforts through outreach and program design in 2017. One effort, the CRA Network of Wisconsin, will be launched at the Governor’s Conference on Economic Development. For the first time, there will be a financial institution tract that will bring Community Reinvestment Act (CRA) and loan officers to the conference.

WEDA has started inviting financial institutions to join the CRA Network of Wisconsin and has received a favorable response. WEDA members—through their expertise and experience—have facilitated development in housing and small business that has helped to revitalize and stabilize communities throughout the state. With the CRA Network, our members will now have greater access to financial institutions that operate within their regions. The goal of the CRA Network is to help complete more deals and projects, while creating tools and resources to facilitate collaboration, locally and statewide, among economic development professionals and financial institutions on CRA- eligible projects and opportunities. WEDA developed a regional structure to the CRA Network to assist communities of all sizes across Wisconsin.

A project application process will be launched as part of the new WEDA website. This application will cover traditional economic development project information requirements, while also including vital CRA data needs to provide the financial institutions with critical information for their regulatory exams. Regional meetings of the CRA Network will commence in the second quarter of 2018. 

WEDA members will have the opportunity to:

  • Collaborate and socialize with regional and statewide leaders in the banking community to strengthen your development strategies.
  • Gain unique pathways to present projects that may be eligible for CRA services, lending and investments.
  • Create a network and forum to see and receive feedback on developing community-based projects.

It’s time to start thinking about projects that might meet CRA criteria in the fields of housing, workforce, community and economic development. The member financial institutions in each region will determine which projects will be presented to the CRA Network in the 2nd quarter of 2018. 

Feel free to reach out to WEDA on the CRA network with any questions. As we launch the new WEDA website, you’ll find tools that can be leveraged to advance your community’s projects.

- Brian Doudna, Executive Director

 


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