CRA Laws need to remain in force. Please consider keeping them there.
I have been in my position as executive director of a small CDC in
Sanford, NC for eight years. I cannot express enough the need for and
the results of CRA laws on our community. Bankers who would not
consider loans to the low income people of our community when I began in
1997 are all responsive to
the need of those previously underserved and to our nonprofit
organization.
This investment in lower income communities has a significant effect
on not only the individual families but the community as a whole.
Imagine if we have help 40 families purchase their own homes, children
have address that are not the "project". The children feel good about
themselves, do better in school and are less likely to be a burden on
society as they grow to be teen and young adults.
This letter is brief, I am busy with my work, but there is no way the
Brick capital Community Development could have accomplished what we have
without the help of the small banks in our town through their CRA
products.
Attached is a list of our accomplishments. Please don't change the
CRA Laws. Doing so will only widen the gap between people of wealth and
the poor.
Kate Rumely, Executive Director
Brick Capital CDC
403 W Makepeace Street
Sanford, NC 27330
919-775-2300
919-774-6808
