CRA Ratings of Massachusetts Banks and Credit Unions in 2004

This annual report of The Massachusetts Affordable Housing Alliance (MAHA) offers a comprehensive listing and analysis of the ratings of Massachusetts banks and credit unions as per the provisions of Community Reinvestment Act (CRA).The report provides current, as of December 2004, as well as the past CRA ratings information on:

• 198 Massachusetts banks,
• 19 banks that have branches both inside and outside the State,
• 105 State-chartered credit unions.

The report also summarizes the data represented in tables as follows:

• One quarter of the banks received "outstanding" by combined 99 CRA ratings and the most recent ratings,
• Eight of the State's ten biggest banks were rated "Outstanding" in their most recent CRA exam; one more was rated "Highly Satisfactory, and one was rated "Satisfactory",
• The total number of CRA ratings (99) awarded to banks in Massachusetts during 2004 was the highest since 1999,
• The number of State-chartered credit unions with "Outstanding" ratings remained at seven (about 7% of the total) for the seventh consecutive year,
• The data reveals that the regulators have not been meeting their minimum responsibilities as they have failed to rate some of the banks since the past few years.

The report also gives the references to various websites for more information on CRA, the ratings and performance evaluation of the banks and credit unions in Massachusetts.