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MCBC Bulletin - Spring 2017
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MCBC Bulletin helps you to stay current and get connected. Read on for more info about upcoming events, program updates, committee activities, and news from the community reinvestment field.
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Turning Data into Action
As spring begins, MCBC has been thinking about how we can become more action-oriented. To this end, MCBC hosted a Forum on our Changing Patterns report in March, empowering attendees to turn persistent disparities highlighted in the report into actions at their organizations. Learn more below.
If you missed the Forum, there are plenty of other ways to get active. Join MCBC for our upcoming forum on the Community Investment Tax Credit, become a Financial Institution Member or join us for one of our upcoming Committee meetings.
And as always, check out the Community Reinvestment Digest News to stay current and get connected from the comfort of your own desk.
I hope to see all of you over the next few months.
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In This Bulletin
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On Tuesday, March 7th, MCBC and the Mel King Institute brought together a diverse group of stakeholders for an Innovation Forum to discuss our report, Changing Patterns XXIII. Participants heard from the report author, Jim Campen, on key data findings from the report. An expert panel, moderated by Elliot Schmiedl, Director of Homeownership for MHP, included Jeremiah Battle, Staff Attorney, National Consumer Law Center; Renee Owens, Community Mortgage Loan Officer, Blue Hills Bank; and Karen Wiener, Chief Operating Officer, Citizens' Housing and Planning Association. Participants then used the report and remarks of the panelists to explore why these patterns of racial and income disparity persist and to dig into the data and issues behind them to have an in-depth conversation on homeownership barriers, and the potential solutions to emerging patterns of concern.
View the full report, Executive Summary, supplemental tables and Infographic here. Banker & Tradesman covered the report here.
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Join us on Tuesday, May 16th, 2:30-4:00 PM at Boston Private in Post Office Square to learn about the Community Investment Tax Credit and how it may benefit your Financial Institution.
The Community Investment Tax Credit (CITC) provides a 50% tax credit against Commonwealth of Massachusetts tax liability. The CITC program is a refundable tax credit. Donors will invest in a CDC's Community Investment Plan i.e. a CDC business plan, providing flexible working capital that can be used to seed new programs, fill funding gaps and leverage other resources. If the donor does not have sufficient tax liability, the credit is refundable, whereby the Commonwealth will issue a check for the balance of the credit to the donor. The maximum donation each year of the program is $2 million per tax paying entity. The minimum donation each year is $1,000. Speakers will include John Fitterer from DHCD, Aida Franquiz from Boston Private and Jennifer Constable from DHCD.
Learn more and register here.
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Membership in MCBC is open to all banks, thrift institutions and credit unions.
MCBC helps financial institutions to stay current on all of the information needed to meet CRA requirements and reach customers, while helping to connect with the community organizations and programs operating in target neighborhoods.
In accordance with State regulation, MCBC's activities, if benefiting a Financial Institution's assessment(s) or a broader statewide or regional area that includes the institution's assessment area(s), the Division will consider a state-chartered institution's membership dues to MCBC a qualified investment. With more than 150 representatives from banks, credit unions, mortgage lenders, community organizations, public organizations, regulatory groups, trade organizations and others currently participating in and learning about MCBC committee activities, members are connecting with the right people and the most important information in a meaningful way.
Click here to learn more and join MCBC for the upcoming year.
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Community Reinvestment Digest News
A regular feature of MCBC Bulletin is the Community Reinvestment News Digest, in which we share a round-up of recent CRA-related news stories and reports. MCBC does not necessarily endorse the opinions expressed in the following articles, but is sharing the links for your use, discussion and information, and to keep the conversation going between our regular meetings and events.
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Join us for an Upcoming MCBC Committee Meeting
MCBC works through its committees, each co-chaired by a financial institution and a community representative. For more information or to hear about upcoming meetings, please contact Dana LeWinter at [email protected].
Mortgage Lending Committee:
All meetings are 9-11 AM at Massachusetts Housing Partnership, 160 Federal Street, Boston.
Tuesday, April 25
Tuesday, June 13
Economic Development Committee:
Meetings are generally held 9:30-11:30 AM at Interise, 197 Portland Street, 2nd Floor, Boston, MA.
Thursday, April 20 (Note Date Change)
Thursday, June 15
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Financial Institution Membership
Membership in the Massachusetts Community & Banking Council (MCBC) is open to all banks, thrift institutions and credit unions.
In accordance with State regulation, MCBC's activities, if benefiting the institution's assessment(s) or a broader statewide or regional area that includes the institution's assessment area(s), the Division will consider a state-chartered institution's membership dues to MCBC a qualified investment.
Click here to see a list of our current members.
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Community Partners
Not a financial institutions but want to show your support for MCBC while staying connected and informed? MCBC Community Partnership is open to all Massachusetts not-for-profit, community-based organizations and quasi-public and public agencies.
Click here to see a list of our current members.
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To learn more about joining MCBC, contact Dana LeWinter, at (800) 982-8268 or via e-mail at
[email protected].
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