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Community Reinvestment Activity
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Community Reinvestment Program

RBS Card Services (RBS) has responsibilities under the Community Reinvestment Act (CRA) which encourages financial institutions to help meet the needs of low- and moderate-income communities.

RBS aims to achieve and maintain the highest possible rating of “Outstanding” from our regulators. We look for opportunities where our funding can affect significant results within the communities in the areas in which we are located.

Volunteerism

RBS encourages the volunteer efforts of our employees in their local communities. In addition, members of our senior staff participate on the boards of directors of local community development organizations.

Financial Education

We believe that a strong financial education programs focusing on the sensible use of credit cards improves the lives of individuals and families and strengthen communities. Our employees volunteer in the community by conducting training programs in “Credit Card Fitness”.

RBS’s Economic and Social Investment Program

RBS looks for opportunities that can bring about significant positive results in low- and moderate-communities in the Bridgeport- Stamford- Norwalk metropolitan statistical area. We have provided grants to organizations in this area that have a track record of strengthening communities and individuals. These include investments in community development financial institutions (CDFIs), grants for individual development account (IDA) programs, and assistance to organizations that promote affordable housing and community revitalization.

Funding Requirements for our Economic and Social Investment Program

RBS gives priority consideration to programs that:

• Promote affordable housing.
• Encourage community-based services targeted to low– and moderate-income families and individuals.
• Support community development initiatives that are catalysts for economically distressed areas.
• Promote new ways to address issues of economic self-sufficiency.

Priority Considerations

Funding priority is given to those projects which:

• Positively impact low- and moderate-income populations.
• Directly affect the individuals and communities served.
• Are multi-cultural.
• Show a high likelihood of success and potential to be replicated.
• Are focused on long-range solutions to broad-based urban issues, including community development or
• Assist in promoting financial education and credit service information to the community.

Funding Restrictions

Funding priority is given to those projects which:

• RBS does not fund organizations that discriminate based on: age, race, color, sex, religion, national origin, disability, family status, receipt of public assistance, sexual orientation.
• In addition, RBS generally does not give to or for: annual appeals, individuals, single disease/issue information and research organizations, religious organizations, including restoration of church buildings, labor, fraternal and veterans organizations (including fraternal orders of police/firefighters), political organizations or projects, operating deficits.
• RBS does not use an application form. However, a formal proposal containing the following components is necessary for consideration and review:

1. A cover letter summarizing the key points of the proposal and the amount of the request. Clearly identify organizational contact, name, address and telephone number.
2. A copy of the organization’s Federal IRS 501(C)3 letter of determination.
3. Last available audited financial statement or a copy of filed tax form, if the agency does not have an audit performed.
4. A list of the members of the organization’s board of directors.
5. A brief (three pages or less) description of the applying organization, its goals and objectives and its role in the community.
6. The organization’s operating budget for the current fiscal year. If the request is for a project, then include itemized income and expense budget for project.
7. Criteria by which the applicant will evaluate the success of the proposed project.
8. A list of sources of support and amounts received in the previous fiscal year. If the request is for a project, include a list of contributors and prospects for the project.
9. A copy of the organization’s Affirmative Action/Equal Opportunity policy.
10. If the request is for seed funding of a project, clearly outline a plan for future financial support.
11. RBS will not process the application until each of these items is submitted.