Release date: June 25, 2024
Cape Cod 5 Achieves "Outstanding" CRA Rating
Hyannis, MA – Cape Cod 5 recently announced that they have received a rating of “Outstanding” from the FDIC and Massachusetts Division of Banks for their Community Reinvestment Act (CRA) assessment, the highest possible rating and one which the Bank has now received consecutively for a period spanning more than thirty years. The CRA assessment evaluates the Bank’s performance in providing responsive, innovative and flexible lending, services and investments, including grants and donations, to support community and economic development initiatives and promote services to low- and moderate- income individuals.
“As a community bank and a mutual institution, our success is reflected in the economic and social strength of the region we serve,” said Matt Burke, Chairman & CEO. “At Cape Cod 5, we consider CRA the floor of our community engagement efforts and feel it’s a privilege to go above and beyond any requirements as we strive to be a responsible corporate citizen that takes an active role in supporting our neighbors and community members.”
Cape Cod 5’s community engagement efforts are undertaken through five ways: community banking by offering accessible products and services; responsible business practices that include significant investments in local green energy and affordable housing projects; corporate leadership & volunteerism; advancement of financial know-how and education; and philanthropy. In 2023, through Bank sponsorships and grants from its foundation, Cape Cod 5 contributed $1.8 million to community organizations contributing to the health and vitality of the region.
To learn more about Cape Cod 5’s community engagement efforts and CRA assessment, visit www.capecodfive.com/about-us.
