Community Involvement

Throughout the years, Capital Bank has been a supporter for Habitat for Humanity, the Boys & Girls Club, North Carolina Theatre, North Carolina Symphony, and WRAL-TV’s Coats for the Children Campaign, as well as many other local organizations.

Many of these activities contribute to the Community Reinvestment Act of 1977. As a community bank we are proud to support the activities and groups that make the places we serve a wonderful place to call home.

The Community Reinvestment Act (CRA) was enacted in 1977 to prevent redlining and to encourage banks and thrifts to help meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods. It extends and clarifies the longstanding expectation that banks will serve the convenience and needs of their local communities. The CRA and its implementing regulations require federal financial institution regulators to assess the record of each bank and thrift in helping to fulfill their obligations to the community and to consider that record in evaluating applications for charters or for approval of bank mergers, acquisitions, and branch openings. The federal financial institution regulators are: Office of the Comptroller of the Currency; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; and Office of Thrift Supervision.

The law provides a framework for depository institutions and community organizations to work together to promote the availability of credit and other banking services to underserved communities. Under its impetus, banks and thrifts have opened new branches, provided expanded services, adopted more flexible credit underwriting standards, and made substantial commitments to state and local governments or community development organizations to increase lending to underserved segments of local economies and populations.

CRA applies to federally insured depository institutions, national banks, thrifts, and state-chartered commercial and savings banks.