From: Linda Merritt [mailto:merrittl@a-znet.com]
Sent: Friday, September 17, 2004 6:55 PM
To: Comments
Subject: SPAM::CRA
RE: RIN 3064-AC50:
Keuka Housing Council is a small Not for Profit Housing Agency
servicing the rural area of Yates County New York. All of the banks in
our area are small local banks, such as the National Bank of Geneva,
Lyons Bank and Bath Bank.
Our First Time Homebuyers receive mortgages through these banks at
reduced rates due to the CRA credits and KHC's bank accounts are with
National Bank of Geneva. KHC's accounts must be in FDIC insured
accounts.
If CRA is "gutted" Keuka Housing Council's clients will need to
travel more than an hour to obtain face to face meetings with CRA banks.
Our own accounts would no longer be local and we would not have the same
intimate working relations and understanding that we now have.
I strongly oppose the proposed rule changing the Community
Reinvestment Act regulations. This really undermines our rural
community. Please so NOT adopt this rule.
Respectfully Submitted,
Linda L. Merritt, Treasurer
Keuka Housing Council, Inc.
160 Main Street
Penn Yan, NY 14527
