The Association of Military Banks of America (AMBA) and the Veterans Benefits Banking Program (VBBP) have announced a new opportunity for banks to potentially earn Community Reinvestment Act (CRA) credit. By participating in VBBP, banks can provide essential banking services to veterans, VA beneficiaries, caregivers, and survivors.

Participation in VBBP may allow banks to earn credit under CRA’s service test. This involves offering access to financial services for low- and moderate-income veterans and connecting them with resources to improve their financial health. The program enables banks to track and document accounts opened by veterans, beneficiaries, survivors, and caregivers within their assessment areas. This initiative aims to enhance the financial stability of veterans.

“The VBBP is a win-win for banks and Veterans alike,” said Omuso George, President & CEO of AMBA. “By offering convenient banking services to Veterans and their families, these banks can earn CRA credit while making a positive impact in the communities they serve.”

Banks interested in participating in VBBP and achieving CRA credit are encouraged to download the flyer for more information.