Cape Cod Five receives outstanding CRA rating

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Cape Cod Five received its ninth consecutive Outstanding rating on the Community Reinvestment Act (CRA) Performance Evaluation by the FDIC and Massachusetts Division of Banks.

“Our Outstanding CRA rating is one indicator that we are successfully fulfilling our Community Commitment promise to reinvest locally, support business growth, provide financial education, and promote affordable homeownership,” said Dorothy A. Savarese, president and CEO of Cape Cod Five. “We strongly believe that providing access to banking resources to all members of our community — regardless of their stage of financial journey, income level, or demographics — will lead to strong, healthy communities.”

According to a press release, the evaluation assesses the bank’s performance in providing responsive, innovative, and flexible home mortgages, small business loans, and community development lending; providing investments, grants, and donations to support community development initiatives, and promoting services to low- and moderate-income individuals; and providing accessible and convenient banking services that effectively meet the needs of the community.