California Government Code Section 16500 (State Funds/Bank Deposits) requires that any bank that a County Treasurer selects to use as a depository bank for the safekeeping of public funds must have an overall Community Reinvestment Act (CRA) rating of not less than “satisfactory” in its most recent CRA evaluation by the appropriate Federal financial agencies.

CRA ratings are based on a Performance Evaluation conducted by the Federal Deposit Insurance Corporation, the Federal Reserve Board or the Office of the Comptroller of the Currency.  This Performance Evaluation determines how well the bank performed in meeting the credit needs of the communities the bank serves, including low- and moderate- income neighborhoods.

The CRA rating is based on the bank’s performance in the areas of Lending, Investment, and Service:

  • Lending: How well the bank addresses the needs of the community through its lending practices.
  • Investment: The level of investments and grants the bank offered to the community.
  • Service: The level to which the bank provides service to all areas of the community.

Banks may be issued a State, Multi-State, and/or Overall Rating.  The Overall CRA rating is established by weighting the institution’s State CRA rating, providing an overall CRA rating.

CRA ratings are assigned using a four-tiered rating system: Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance.  For more information on the ratings, please click here.

The County Treasurer considers the Overall CRA rating to determine whether it may continue to have a depository relationship with that bank.

Our current depository banks’ CRA ratings are:

BankOverall CRA RatingCalifornia CRA RatingYear Rated
Bank of AmericaOutstandingOutstanding2019
Bank of the WestSatisfactorySatisfactory2017
JPMorgan ChaseSatisfactoryOutstanding2013
MUFG UnionOutstandingSatisfactory2015
Wells FargoOutstandingOutstanding2019
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