Artisans’ Bank maintains a regulatory obligation to seek, understand, and actively help meet the credit and financial services needs of the communities the Bank serves, including both low and moderate income and geographic sectors. The Board of Directors, Officers, and Associates of Artisans’ Bank remain deeply committed to the spirit of the Community Reinvestment Act (CRA) and demonstrate this commitment by promoting a roster of innovative and flexible consumer loan and consumer deposit products and services throughout our CRA Assessment Area; by providing leadership and outreach to many non-profit agencies that serve this segment of our community; and by investing in assets that help support the community’s credit and financial service needs.
CRA Assessment Area
Artisans’ Bank serves all three counties within the State of Delaware: New Castle County, which is within Metropolitan Area (MA) 48864; Kent County, which is within Metropolitan Area (MA) 20100 and Sussex County, which is within Metropolitan Area (MA) 41540. This CRA delineation is based on the location of the Bank's full service branches and loan production offices.
First Time Home Buyer Discounts
The Bank offers low and moderate income first time home buyers a slightly reduced interest rate and no bank application fee. The Bank also participates in the FHLMC Home Possible and the DSHA Mortgage Revenue Bond loan programs, and offers both FHA and VA mortgages, which are attractive to first time home buyers. Please contact our Residential Lending department for details of our first time home buyer initiatives.
Credit Builders Loans
This consumer loan assists borrowers in establishing or improving their credit score or in accruing the savings necessary for a home purchase down payment or personal savings needs. Proceeds from a consumer loan of $500 to $2,000 are deposited into an Artisans’ Bank Free Savers account that secures the loan. Borrowers repay the loan over a twelve to twenty-four month period, from their cash flow, while strengthening their credit ratings. Applications for Credit Builder loans must come from a participating local agency (see below) and include financial literacy counseling.
The bank supports a variety of no or low cost savings products for low and moderate income consumers. Applications for these products must come from a participating local non-profit agency (see below). Please contact our CRA Officer, Joel Schiller, at 302-884-6566, for details.
Free and Group Savers Accounts
Free and Group Savers Accounts are designed as an entry-level statement savings account for consumers. The Bank works with participating consumer agencies to open accounts for consumers who need a bank account or a second chance in handling a bank account. Free and Group Savers accounts earn a premium 0.25% rate of interest and have no minimum balance requirements or monthly services fees. Free and Group Savers accounts must be opened via a referral from a participating community service agency (see below) and include financial literacy counseling.
Individual Development Accounts
The Bank is able to support individual development “matched savings” account (IDA) programs offered by local participating agencies. IDA participants save for home ownership, micro enterprise development, or continuing education and may receive a savings match, if they meet their personal savings goals. Individual Development Accounts must be opened via a referral from a participating community service agency and include financial literacy counseling. The Bank is not aware of any active IDA programs at this time.
Bank at School Accounts
The Bank supports the Delaware Bank at School program by offering School Saver accounts to students in several Delaware schools. We are proud to support BAS programs at Caravel Academy, Brown Elementary, Star Hill Elementary, Sharon Temple Adventist and Holy Angels Academy. For more information on Bank at School, or to start a program at your school, please contact the Delaware Financial Literacy Institute at 302-792-1200.
Approved Community Agencies
If you would like to join the Bank’s list of approved community agencies who offer the Artisans' Credit Builder loans or Free Savers accounts to their clients, please contact our CRA Officer, Joel Schiller, at 302-884-6566.
- Delaware Alliance for Community Advancement, 302-656-8200
- Delaware Community Reinvestment Act Council, Inc. , 302-654-5024
- Delaware Financial Literacy Institute (Delaware Money School), 302-792-1200
- First State Community Loan Fund , 302-652-6774
- Habitat for Humanity NCC, 302-652-0365
- Interfaith Community Housing of Delaware Inc. , 302-652-3991
- Ministry of Caring, 302-652-5523
- NCALL Research Inc ., 302-678-9400
- Nehemiah Gateway CDC ., 302-655-0803
- Peace by Piece, Inc., 302-834-8131
- Sojourner's Place, 302-764-4713
- Stand By Me, 302-255-9621
- West End Neighborhood House , 302-658-4171
- YWCA of Delaware , 302-658-7161
Artisans' Bank has a long tradition of supporting our community through corporate support and employee volunteerism. Our Marketing and Community Relations Group manages requests for contributions, sponsorships, and volunteer programs. The Bank funds these contributions though its annual operating budget and does not maintain a foundation or an endowment fund. To submit a grant or capital campaign request, please write to us at our corporate address and include the information you feel is important to be considered. We will do our best to consider your request in a timely manner.
Artisans' associates support a number of volunteer programs with their time and talents and are encouraged to volunteer with non-profit agencies and organizations that support our community. Volunteer partnerships have included building homes for Habitat for Humanity, preparing meals for children and their families at Ronald McDonald House, teaching inner city children the importance of saving as part of the National Teach Your Children to Save Day, collecting food or household items for the Basket Brigade of Delaware, Delaware Food Bank, Family Promise, or other local agencies, and filling holiday stockings with school supplies and other gifts for children through The Salvation Army's annual Holiday Stocking Program.
For more information about Artisans' community involvements, including its overall responsibilities under the Community Reinvestment Act, please contact the Bank's Community Relations Officer at 302-658-6881.