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The Community Reinvestment Act (“CRA”) was enacted in 1977. The
legislative intent behind the Act was to encourage an insured
depository institution to meet the credit needs of its entire
community, including consumer and commercial credit needs, with a
special emphasis on real estate lending activities and the needs of
low and moderate income (“LMI”) neighborhoods, consistent with the
safe and sound operation of the institution.
First Northern Bank strongly supports, and hereby reaffirms, the goal
of meeting the credit needs of the communities it serves, including
LMI neighborhoods. CRA is an integral component of the Bank’s planning
process and sound business practices.
First Northern Bank believes that helping its neighbors build a better
way of life through its loan and deposit services is simply good
business. The Bank is proud of the fact that its lending programs,
deposit and savings products, and other financial services have
enabled its neighbors to purchase businesses, build financial security
and enjoy their retirement years.
Areas of focus under the Community Reinvestment Act:
* Low-income is defined as <50% of the Area Median
Income. Moderate-income is defined as at least 50% and <80% of Area
Median Income.
Download First Northern Bank’s most recent CRA Performance Evaluation
(Adobe PDF format 2.98MB .pdf)
Download Adobe Acrobat® Reader™
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