CRA
What is the Community Reinvestment Act?
The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

View Jackson County Bank's CRA Notice

News Release: The following article appeared in the April 16, 2003 issue of the Banner Journal.

Jackson County Bank Receives Outstanding Rating for Community Service

A Community Reinvestment Act (CRA) performance evaluation completed in January 2003 by the Federal Deposit Insurance Corporation (FDIC) assigned an "Outstanding" rating to the Jackson County Bank. This is the fourth consecutive "Outstanding" rating the bank has been assigned over the last 12 years. This is the highest rating awarded to banks.

The FDIC stated, "The bank’s overall performance demonstrates an excellent commitment to lending, revitalizing, stabilizing and supporting the community. Furthermore, the bank plays a leadership role in originating and sponsoring community development activities, many of which are innovative and flexible in meeting community credit needs."

The bank’s CRA Officer, Marcia Hensley, was informed by the FDIC that Jackson County Bank was the first Wisconsin bank in almost two years to receive an "Outstanding" rating (the last Wisconsin bank to receive an outstanding rating was in February 2001). She also mentioned that there are over 7,800 banks in the United States and, of those evaluated, only 36 received an "Outstanding" rating in 2002.

Bank President Gene Ransom stated, "Community involvement has long been an integral part of our bank. We care about our customers and community and their businesses and look for ways to make them successful. We exhaust every possible way to provide the credit necessary to make our communities work and to meet the financial needs of our customers."

Congress enacted the Community Reinvestment Act (CRA) in 1977 to encourage banks to help meet the credit needs of their entire community, including low- and moderate-income neighborhoods. Banks are examined every three to five years to determine at what level they are meeting the credit needs of their local communities.

Under the Federal Community Reinvestment Act (CRA), the Federal Deposit Insurance Corporation (FDIC) evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations.  The FDIC also takes this record into account when deciding on certain applications submitted by us.  Your involvement is encouraged.

You are entitled to certain information about our operations and our performance under the CRA, including, for example, information about our branches, such as their location and services provided at them; the public section of our most recent CRA Performance Evaluation, prepared by the FDIC; and comments received from the public relating to our performance in helping to meet community credit needs, as well as our responses to those comments.  You may review this information today.

At least 30 days before the beginning of each quarter, the FDIC publishes a nationwide list of banks that are scheduled for CRA examination in that quarter.  This list is available from the Chicago Regional Director, Federal Deposit Insurance Corporation, 500 West Monroe Street, Suite 3300, Chicago, Illinois 60661.

You may send written comments about our performance in helping to meet community credit needs to:

JUDY LEE
JACKSON COUNTY BANK
8 MAIN STREET, P.O. BOX 490
BLACK RIVER FALLS, WISCONSIN   54615

and to the FDIC Regional Director.

Your letter, together with any responses by us, will be considered by the FDIC in evaluating our CRA performance and may be made public.

You may ask to look at any comments received by the FDIC Regional Director.

You also may request from the FDIC Regional Director an announcement of our applications covered by the CRA filed with the FDIC.

We are an affiliate of Wisconsin Bank Services Inc., a bank holding company.  You may request from Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois  60604, an announcement of applications covered by the CRA filed by bank holding companies.