Green Dot Awarded “Outstanding” Community Reinvestment Act (CRA) Rating by the Federal Reserve
Green Dot Bank (NYSE: GDOT) has received an 'Outstanding' Community Reinvestment Act (CRA) rating from the Federal Reserve, the highest possible rating. The bank excelled in both Combined Lending and Investment Goals and Service Goals.
Key achievements highlighted in the Federal Reserve's report include:
- Outstanding levels of small business loans and community development investments supporting affordable housing
- Exceptional community development services providing financial education and technical assistance
- Zero CRA performance-related complaints during the review period
The rating covers the 2021-2023 examination period, evaluating Green Dot's performance in Utah and Juab counties. The bank focused on affordable housing initiatives and financial literacy programs, including job skills training for homeless populations and financial education in Title 1 schools.
Green Dot Bank (NYSE: GDOT) ha ricevuto un 'Eccellente' rating secondo il Community Reinvestment Act (CRA) dalla Federal Reserve, il punteggio più alto possibile. La banca ha eccelso sia negli Obiettivi di Prestiti e Investimenti Combinati che negli Obiettivi di Servizio.
Tra i risultati chiave evidenziati nel rapporto della Federal Reserve ci sono:
- Livelli eccezionali di prestiti a piccole imprese e investimenti nello sviluppo comunitario a sostegno dell'abitazione accessibile
- Servizi di sviluppo comunitario eccezionali che offrono educazione finanziaria e assistenza tecnica
- Nessun reclamo relativo alle performance CRA durante il periodo di revisione
Il rating copre il periodo di esame 2021-2023, valutando le performance di Green Dot nei contea di Utah e Juab. La banca si è concentrata su iniziative di abitazioni accessibili e programmi di alfabetizzazione finanziaria, inclusi corsi di formazione per le competenze lavorative per le popolazioni senzatetto e educazione finanziaria nelle scuole di Titolo 1.
Green Dot Bank (NYSE: GDOT) ha recibido una calificación de 'Sobresaliente' según la Ley de Reinversión Comunitaria (CRA) de la Reserva Federal, la calificación más alta posible. El banco destacó tanto en los Objetivos Combinados de Préstamos e Inversiones como en los Objetivos de Servicio.
Los logros clave destacados en el informe de la Reserva Federal incluyen:
- Niveles sobresalientes de préstamos a pequeñas empresas e inversiones en desarrollo comunitario que apoyan la vivienda asequible
- Servicios excepcionales de desarrollo comunitario que brindan educación financiera y asistencia técnica
- Cero quejas relacionadas con el rendimiento del CRA durante el período de revisión
La calificación cubre el período de examen 2021-2023, evaluando el desempeño de Green Dot en los condados de Utah y Juab. El banco se centró en iniciativas de vivienda asequible y programas de alfabetización financiera, incluidos entrenamientos de habilidades laborales para poblaciones sin hogar y educación financiera en escuelas de Título 1.
그린닷 은행 (NYSE: GDOT)은 연방준비제도로부터 '우수'한 커뮤니티 재투자법(CRA) 등급을 받았으며, 이는 가능한 가장 높은 등급입니다. 이 은행은 대출 및 투자 목표와 서비스 목표 모두에서 뛰어난 성과를 보였습니다.
연방준비제도의 보고서에서 강조된 주요 성과는 다음과 같습니다:
- 저렴한 주택을 지원하는 중소기업 대출과 커뮤니티 개발 투자에서 우수한 수준
- 재정 교육과 기술 지원을 제공하는 뛰어난 커뮤니티 개발 서비스
- 검토 기간 동안 CRA 성과 관련 불만 제로
이 등급은 2021-2023년 검사 기간을 포함하며, 유타주와 주압 카운티에서 그린닷의 성과를 평가합니다. 이 은행은 저렴한 주택 이니셔티브와 재정 교육 프로그램에 집중했으며, 여기에는 노숙자 인구를 위한 직업 기술 훈련과 1급 학교에서의 재정 교육이 포함됩니다.
Green Dot Bank (NYSE: GDOT) a reçu une évaluation 'Exceptionnelle' selon la loi sur la réinvestissement communautaire (CRA) de la Réserve fédérale, la meilleure note possible. La banque a excellé tant dans les objectifs de prêts et d'investissements combinés que dans les objectifs de service.
Les réalisations clés mises en avant dans le rapport de la Réserve fédérale incluent:
- Niveaux exceptionnels de prêts aux petites entreprises et d'investissements dans le développement communautaire soutenant le logement abordable
- Services de développement communautaire exceptionnels fournissant une éducation financière et une assistance technique
- Aucune plainte liée à la performance CRA durant la période d'examen
Cette évaluation couvre la période d'examen 2021-2023, évaluant la performance de Green Dot dans les comtés d'Utah et de Juab. La banque s'est concentrée sur des initiatives de logement abordable et des programmes d'éducation financière, y compris la formation aux compétences professionnelles pour les populations sans-abri et l'éducation financière dans les écoles de titre 1.
Green Dot Bank (NYSE: GDOT) hat von der Federal Reserve eine 'Herausragende' Bewertung im Rahmen des Community Reinvestment Act (CRA) erhalten, die höchste mögliche Bewertung. Die Bank hat sowohl bei den kombinierten Kredit- und Investitionszielen als auch bei den Servicezielen hervorragende Leistungen erbracht.
Wichtige Erfolge, die im Bericht der Federal Reserve hervorgehoben werden, sind:
- Herausragende Niveaus an Krediten für Kleinunternehmen und Investitionen in die Gemeinschaftsentwicklung zur Unterstützung von erschwinglichem Wohnraum
- Außergewöhnliche Dienstleistungen zur Gemeinschaftsentwicklung, die finanzielle Bildung und technische Unterstützung bieten
- Keine Beschwerden im Zusammenhang mit der CRA-Leistung während des Prüfungszeitraums
Die Bewertung umfasst den Prüfungszeitraum 2021-2023 und bewertet die Leistung von Green Dot in den Bezirken Utah und Juab. Die Bank konzentrierte sich auf Initiativen für erschwinglichen Wohnraum und Programme zur finanziellen Bildung, einschließlich Schulungen für berufliche Fähigkeiten für obdachlose Bevölkerungsgruppen und finanzielle Bildung in Schulen der Kategorie 1.
- Received highest possible 'Outstanding' CRA rating from Federal Reserve
- Outstanding performance in both Combined Lending/Investment Goals and Service Goals
- Strong track record in small business lending and community development investments
- Zero complaints received during the review period
- None.
“Green Dot has long been dedicated to tackling the most pressing financial challenges faced by LMI consumers and small businesses,” said Chris Ruppel, interim President of Green Dot and interim President and CEO of Green Dot Bank. “Our commitment to enabling and supporting our customers extends beyond our products and services, and we are proud to have earned this top CRA rating recognizing our ongoing efforts and the impact they have on communities in need.”
The FRB called out several areas where Green Dot excelled in its full report, including:
- Outstanding levels of combined small business loans, community development loans, and community development investments and donations that helped to address the need for affordable housing and support for small businesses in the assessment area
- Outstanding levels of community development services to small businesses and nonprofit organizations that provide financial education, technical assistance on financial matters, supportive health services, and housing assistance to LMI individuals and/or families
- No complaints received in the review period relating to its CRA performance
Green Dot’s lending and investment efforts in the assessment period focused on addressing the need for affordable housing in the assessment region and driving financial literacy initiatives for LMI individuals and families. Green Dot’s community development efforts focused on providing financial literacy education in the form of job skills training to homeless populations nationwide, financial literacy classes to students of Title 1 schools, free tax preparation to LMI individuals and more.
The rating reflects the 2021-2023 CRA performance examination period and an evaluation of the assessment area covering the
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology platform and registered bank holding company that builds banking and payment solutions to create value, retain and reward customers, and accelerate growth for businesses of all sizes. For more than two decades, Green Dot has delivered financial tools and services that address the most pressing financial needs of consumers and businesses, and that transform the way people and businesses manage and move money.
Green Dot delivers a broad spectrum of financial products to consumers and businesses through its portfolio of brands, including: GO2bank, a leading digital and mobile bank account offering simple, secure and useful banking for Americans living paycheck to paycheck; the Green Dot Network (“GDN”) of more than 95,000 retail distribution and cash access locations nationwide; Arc by Green Dot, the single-source embedded finance platform combining all of Green Dot’s secure banking and money processing capabilities to power businesses at all stages of growth; rapid! wage and disbursements solutions, providing pay card and earned wage access services to more than 6,000 businesses and their employees; and Santa Barbara Tax Products Group (“SBTPG”), the company’s tax division, which processes more than 14 million tax refunds annually.
Founded in 1999, Green Dot has managed more than 80 million accounts to date both directly and through its partners. Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC. For more information about Green Dot’s products and services, please visit www.greendot.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250318678382/en/
Alison Lubert
alubert@greendotcorp.com
Source: Green Dot
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