The Community Development department of the St. Louis Fed identifies and addresses an expansive range of challenges confronting low- and moderate-income (LMI) communities in the Federal Reserve’s Eighth District.
We support the economic growth objectives of the Federal Reserve System by promoting community and economic development in these LMI communities, and fair and impartial access to credit in underserved markets.
Our department brings together financial institutions, nonprofits, public officials, government agencies, researchers and practitioners to stimulate ideas and share insights, and to collaborate on community and economic development initiatives.
We also assist financial institutions to understand their responsibilities under the federal Community Reinvestment Act (CRA).
Our goal is to strengthen our understanding of all the issues that affect development of strong, sustainable communities in our District.
Community Development at the Fed
Each of the 12 Federal Reserve banks in the Federal Reserve System has a Community Development office that provides financial institutions with information on:
- the Community Reinvestment Act,
- community and economic development, and
- issues related to credit access.
Community Development fosters collaboration and provides information designed to improve communities and the lives of the people who live in them. Each Community Development office develops specific products and services to meet the informational needs of its market. These products and services fall into three major areas:
- publications and newsletters,
- conferences, training and presentations, and
- technical assistance.
Each Community Development office also provides resource information, technical assistance and regulatory guidance to:
- financial institutions,
- community-based organizations,
- government entities and
- a wide variety of other organizations engaged in community and economic development.