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FDIC Federal Register Citations

BARRON COUNTY HABITAT FOR HUMANITY

From: Terry Warren [mailto:bchfh@chibardun.net]
Sent: Tuesday, September 07, 2004 9:57 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

To Whom It May Concern:
As Executive Director with Barron County Habitat for Humanity, a local Habitat affiliate with a county-wide service area of approximately 45, 000 people, I am extremely concerned about the impact that the proposed changes in the Community Reinvestment regulations may have on small non-profit organizations such as ours. We depend on the support of local financial institutions, and I fear that without the encouragement provided by the Community Reinvestment Act, we could lose some of that vital support. I'd like to think that we would all continue to enjoy the same level of support, but I believe that the "bottom line" may dictate reality. If the FDIC truly wants to see improvement in the lives of low-income citizens, the kind of improvement that is championed by countless non-profit organizations working tirelessly on limited budgets, then they must support regulations that require community reinvestment by those most able to provide the needed funding.

The proposed change would diminish incentives for banks serving small towns and rural communities to provide services and investments that benefit low-income neighborhoods in those areas. This directly affects organizations like Habitat for Humanity, limiting the opportunities for home-ownership that Habitat is able to provide to low-income families currently living in inadequate housing. Without full CRA reviews, I fear that financial institutions will tend to do as little as they can "get away with" in the way of community support.

I hope that the FDIC will consider the full impact of these proposed changes before making a decision. Remember that there are countless non-profit organizations improving life for Americans in need, often stepping in where the government is unable to help. Housing organizations like Habitat for Humanity build not only houses, but communities and lives. Please ask yourselves--what is that worth?
Sincerely,
Ms. Terry Warren, Executive Director
Barron County Habitat for Humanity
P.O. Box 389
Rice Lake, WI 54868
715-234-2460
fax 715-736-2460

Last Updated 09/08/2004 regs@fdic.gov

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