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 |
