LOWELL, MA – Jeanne D’Arc Credit Union is pleased to announce that it earned an overall rating of “Outstanding” from the state’s Division of Banks following its 2012 Community Reinvestment Act (CRA) review.
This is the third consecutive CRA review in which Jeanne D’Arc Credit Union has received an overall rating of “Outstanding.” It was also rated as “Outstanding” during its 2008 and 2004 reviews by the state Division of Banks.
“At Jeanne D’Arc Credit Union, we are committed to responding to the needs of community members,” said Mark S. Cochran, President and Chief Executive Officer of Jeanne D’Arc Credit Union. “We are proud to know that our efforts to assist the community with its financial needs were again recognized by the state’s Division of Banks.”
The Community Reinvestment Act ensures that financial institutions are meeting the credit needs of the communities which they serve, including low and moderate income areas, consistent with safe and sound banking practices.
The CRA regulation establishes the criteria by which the Division of Banks assesses an institution’s record of helping to meet community credit needs. Based on its performance, an institution is assigned one of five ratings with “Outstanding” being the highest possible rating.
About Jeanne D’Arc Credit Union
Jeanne D’Arc Credit Union was established in 1912 and is a full-service, member-owned community-based financial cooperative with more than 59,000 members and more than $1 billion in assets. It operates six full-service branches in Lowell, Dracut (2), Tyngsboro, Chelmsford and Methuen, Massachusetts; three high-school branches at Lowell High, Dracut High and Methuen High schools; and a loan center in Lowell.