History

The California Reinvestment Committee was organized in 1986 by an ad-hoc group of nonprofit community-based organizations and developers. It’s founding purpose was to use the federal Community Reinvestment Act (CRA) to increase the flow of credit, services and investments to California's low-income communities and communities of color.

CRC’s approach was to negotiate detailed, written CRA commitments from California's major banks. The first commitment was made  byWells Fargo Bank in 1986, and the second by the Bank of America in 1989 . These commitments identified the banks’ community reinvestment goals and specific programs that supported affordable housing, economic development and consumer products designed for under-served populations and communities.

In 1992, CRC was incorporated as a 501(c)3 nonprofit membership organization. Since then, CRC has expanded its programs to include the publishing of reports; helping to organize and support local grassroots efforts; researching the financial services industry for public education purposes;  and participation in the state and federal policy arena.  In 2004, CRC changed its name to the Calfironia Reinvestment Coalition to belatedly recognize the change in its size and structure from a committee to a coalition.