Sausalito, CA (PRWEB) February 27, 2008
AngelPoints, the market leader in on-demand corporate volunteer management and employee engagement, announced today the availability of its newly redesigned CRA module, which enables leading financial institutions to cost-effectively boost their CRA ratings. AngelPoints CRA module provides financial institutions the information they need during CRA performance assessment by qualifying, tracking and reporting all employee volunteer hours specifically for the Community Reinvestment Act (CRA).
"It's not a coincidence that 60 percent of our financial clients currently earned the highest CRA rating of 'Outstanding'," says Andrew Mercy, CEO and Founder of AngelPoints. "Our newly redesigned CRA module helps our clients achieve success by streamlining the laborious data collection, reporting and auditing processes in one all-inclusive system. It's an 'extreme makeover' for CRA."
Historically, the data collection, record keeping and reporting of CRA requirements imposed a heavy burden on financial institutions large and small. AngelPoints worked with over a dozen managers of leading financial institutions to design a CRA tool that streamlines this burdensome CRA compliance process through real-time data collection and qualification and in-depth reporting. With a flexible work flow process and varied levels of access, clients can distribute these tasks across their CRA management team.
Over a half of a decade ago, AngelPoints first developed its CRA module to complement its flagship product, Enterprise Volunteer Solutions (EVS)™, a web-based volunteer management software application used by over 100 corporate brands spanning the globe. AngelPoints CRA module now powers CRA management for leading financial institutions representing nearly a million employees. To learn how AngelPoints can help you achieve your CRA goals, visit: http://www.angelpoints.com to sign up for a demo.
About the Community Reinvestment Act (CRA)
In 1977, Congress enacted the Community Reinvestment Act to help ensure that federally insured banks and thrifts meet the banking and credit needs of the communities they serve, including low- and moderate-income neighborhoods. Financial institutions must undergo regulatory exams and are rated on how well they meet federal CRA guidelines. Upon completion of a CRA examination, the FDIC rates the overall CRA performance of the financial institution using a four-tiered rating system that consists of Outstanding, Satisfactory, Needs to Improve and Substantial Noncompliance.
AngelPoints, the market leader in on-demand corporate volunteer management and employee engagement, helps employee volunteer programs around the world manage, measure, reward, and recognize over three million employee volunteers through its web-based volunteer management software application, Enterprise Volunteer Solution (EVS)™. With over 100 brands spanning the globe, AngelPoints helps committed companies make community their best investment. Recognized as one the Best Places to Work in the Bay Area, AngelPoints is located in Sausalito, California and can be found at http://www.angelpoints.com or (415) 331-4881.