Champlain National Bank Receives Outstanding CRA Performance Evaluation

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Champlain National Bank earned an Outstanding rating from the Office of the Comptroller of the Currency (OCC) in a recent exam of its Community Reinvestment Act (CRA) activities.  Under the CRA, banks are evaluated on how they meet the credit needs of the communities they serve, including low- and moderate-income households, and the types of community development activities they provide.  A rating of Outstanding is the highest grade a financial institution can receive.
“I am proud of what our team has accomplished to help Champlain National Bank achieve this ‘Outstanding’ rating,” said Steven Cacchio, President and CEO. “This rating reflects the commitment to the communities where we live and work."
The Community Reinvestment Act was enacted in 1977 in order to address systemic inequities in accessing credit.  The CRA was strengthened and modernized last year in order to promote increased lending, investment, and basic banking services in communities.