Winter Hill Bank receives ‘Outstanding’ rating

On August 25, 2016, in Latest News, by The Somerville Times
— Photo by Donald Norton

— Photo by Donald Norton

By Rebecca Danvers

Winter Hill Bank has received an “Outstanding” Community Reinvestment Act (CRA) rating from the Office of the Comptroller of the Currency, representing the highest possible rating of how well the bank meets the needs of its communities in the areas of community development lending, affordable housing finance, and banking and financial services. This is the bank’s fourth consecutive “Outstanding” rating. An outstanding rating is the highest rating possible and it demonstrates the bank’s commitment of taking a leadership role in meeting the credit needs of all segments of its communities.

Passed by Congress, the Community Reinvestment Act encourages financial institutions to help meet the credit needs of the communities in which they operate including low and moderate-income neighborhoods consistent with safe and sound banking operations. Federal regulators monitor whether banks are fulfilling their CRA obligations and they rate each bank based on their performance in lending, service, and investments in the bank’s communities.

According to Pauline M. D’Aurora, Executive Vice President/Chief Lending Officer of Winter Hill Bank, “Receiving the highest of ratings is an honor at any time. To be recognized with such a distinction is validation that Winter Hill Bank remains a leader in addressing all the needs of every neighborhood we serve in a responsible way. That’s the way it has been since our founding in 1906. Everyone at the bank shares this honor.”

Winter Hill Bank is a Mutual Federal Savings Bank serving eastern Massachusetts.

 

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