Important Message
Important Message

CRA Exam Statement


September 1, 2016

On August 31, 2016, Associated Bank, N.A. (“Bank”) received a Community Reinvestment Act (“CRA”) rating from the Office of the Comptroller of the Currency (“OCC”) of “Needs to Improve” for the period 2006-2010. This CRA rating, covering a period commencing a decade ago, was lowered due to matters resolved in the Conciliation Agreement the Bank entered into with HUD in May 2015 and problems with certain legacy debt protection products offered by third party vendors. The full OCC CRA Performance Evaluation can be accessed online

With regard to the HUD matter, the Bank has significantly enhanced its services to low-to-moderate income (LMI) and minority communities in its footprint since the period covered by the 2006-2010 CRA rating. These enhancements include new branches and loan production offices in LMI and minority neighborhoods, special financing programs, affordable home repair grants, outreach marketing programs, and community grants. For a more complete description of our community program, please see our Community Commitment Plan for 2016-2018.

With regard to the legacy debt protection products offered by third parties, the Bank discontinued those products several years ago and has provided remediation to affected customers.

The OCC has conducted a subsequent examination of the Bank’s CRA performance for the period 2011-2014, and the rating from that examination is expected to be released in 2017. While there can be no assurance as to future CRA ratings issued by the OCC, we expect an improved rating for the 2011-2014 period.

We recognize our success is dependent upon strong relationships with the communities where we live and serve. Our defined approach to being a responsible corporate citizen is grounded in fostering stronger, more stable communities. This approach includes providing sound financial services throughout our three-state footprint of Wisconsin, Illinois and Minnesota; giving of our time through colleague volunteerism; and, strengthening our communities through our provision of financial resources.

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