The Community Reinvestment Act (CRA) is a federal law enacted in 1977 to promote fair access to credit within the local communities.
The CRA encourages federally insured banks to help meet the credit needs of the communities in which they do business, especially low and moderate income (LMI) communities, consistent with Safe and Sound operations. To ensure accountability, banks undergo periodic evaluations of these efforts, with the results made available to the public.
Bank of Utah received a rating of “Satisfactory” in its most recent CRA Performance Evaluation, which spans January 21, 2021, through April 25, 2023. The rating reflects the Bank’s commitment and responsiveness to the communities it serves.
A Legacy of Community Responsibility
Bank of Utah’s mission is to unlock the potential of its team members, clients, and community by acting with integrity, building trust through every interaction, exceeding expectations at every opportunity and responsibly creating lasting prosperity for generations. This is rooted in the values of its founder, Frank M. Browning, who established Bank of Utah in 1952 with the belief that community prosperity is a shared responsibility. Browning famously said, "As a member of the community, we owe it to the community to help out where we can."
"Bank of Utah believes that by uplifting the community, it uplifts everyone. This belief drives every decision we make," said Branden Hansen, President of Bank of Utah. "We commit to continue to strengthen communities, support nonprofit partners, and invest in the people and places where we live and work."