Flagstar CRA programs support the communities we serve.
Flagstar Bank is committed to meeting the banking and credit needs of the communities where we do business, including low- and moderate-income neighborhoods. Through our Community Reinvestment Act (CRA) initiatives, we’ve invested $50 million in community lending and community development programs that revitalize neighborhoods and make homeownership more affordable.
Our approach goes beyond simply investing, however. We work closely with local civic and nonprofit leaders and businesses to identify and establish sustainable solutions.
Recent examples of our Community Reinvestment Act (CRA) banking initiatives:
- Establishing programs for down payment assistance, grants, and flexible mortgage requirements
- Closing the digital divide in Inkster, Mich., through a $1 million pledge to the Strategic Alliance Community Development Corporation
- Building an affordable tiny home in Detroit in partnership with Cass Community Social Services
- Supporting lending circles that break the cycle of predatory payday lenders
- Volunteering 4,200 hours each year to build financial literacy at a local level
CRA volunteer work
Flagstar is also committed to improving financial literacy in our communities. That’s why you’ll find us educating young people on the importance of saving and teaching families homebuying basics.
Through our CRA community service, Flagstar employees volunteered 4,127 hours for 227 organizations.
Here are some of the many events and organizations we support as volunteers and board members:
- American Bankers Association: Get Smart About Credit
- Forgotten Harvest
- Habitat for Humanity
- Junior Achievement
- Money Smart Week
- Operation Hope: Banking On Our Future
- Opportunity Resource Center
- Salvation Army
- Tax foreclosure assistance
- Whaley Children's Center
Our Community Lending and Home Loan Programs page provides additional information about specialty and CRA mortgage programs, grants, and down payment assistance. For more information about Flagstar’s community support, visit Community Initiatives.
Flagstar Bank’s Community Reinvestment Act team
Beverly Meek
First Vice President, CRA Director
Beverly Meek has an extensive background in banking, spanning more than 25 years and holding several positions within her tenure in the industry. She has a broad knowledge of philanthropy, CRA compliance, and CRA investments, as well as community and economic development programs and initiatives. Most notably is her experience in implementing the Community Reinvestment Act, a federal regulation that encourages financial institutions to help meet the credit needs of individuals and communities with low to moderate incomes.
Brandon Lewis
Vice President, Senior CRA Compliance Specialist
Brandon Lewis has more than 15 years of experience working in banking and law. A graduate of Oakland University and Wayne State University Law School, he is responsible for staying current on government regulations to ensure that our expanding CRA strategy remains in compliance. Brandon also oversees CRA data reporting, which quantifies our investments and impact. In addition, he coordinates affordable housing grants through the Federal Home Loan Bank of Indianapolis.
Vincent Maine
Senior Community Development Lender
After serving as an operation specialist in the U.S. Navy, Vincent Maine has spent more than 20 years working in community development. In his role at Flagstar, Vincent oversees CRA lending for multifamily affordable housing and tax credit investments, including millions of dollars in construction loans and equity investments within the bank’s footprint. He has also served on multiple boards of directors for housing and economic development, various nonprofits, and community development financial institutions.
