Information for Banks: HomeSharing and the CRA

HomeSharing qualifies as an agency to invest in for Community Reinvestment Act (CRA) credit. In order to receive CRA credit a bank’s activities must have one of the following as its primary purpose:
Affordable housing
Community services targeted to low- and moderate- income individuals
Activities that promote economic development
Activities that revitalize or stabilize Low and Middle Income areas.
HomeSharing’s Mission is to create affordable housing solutions. We match those seeking housing with those who need additional income or services to maintain their homes, while fostering independence and dignity.
Geographic Area: HomeSharing has served Somerset and Hunterdon counties for 35 years; began services in Middlesex, Morris and Union Counties in 2011; and in parts of Essex and Passaic Counties in 2015.
HomeSharing serves the most needy in our communities. In 2018, 81% of the client households had incomes less than $30,000 per year (33% had less than $10,000 household income); 35% of the households were headed by females; 35% of the households had people with disabilities; and 36% of our clients were older adults (age 60+).
Our Budget: is less than $300,000 annually.
Ways to Invest in HomeSharing:
Event Sponsorships
Board or Committee Service