Illinois Community Reinvestment Act (CRA)
The Illinois Community Reinvestment Act (CRA) requires covered financial institutions including state banks, credit unions, and non-bank mortgage licensees to meet the financial services needs of the community with a focus on low-to-moderate income neighborhoods.
State Chartered Banks
CRA applies to banks chartered under the Illinois Banking Act and savings banks chartered under the Illinois Savings Bank Act
CRA applies to a credit union incorporated under the Illinois Credit Union Act