FOR IMMEDIATE RELEASE
April 16, 2026
CONTACT
Valerie Lee
vlee@locusimpact.org
Locus Bank Earns Third Consecutive “Outstanding” CRA Rating from Federal Reserve Board
Richmond, VA — Locus today announced that its subsidiary, Locus Bank, a certified community development financial institution (CDFI) and B Corp, earned an “Outstanding” rating in its 2025 Community Reinvestment Act (CRA) Performance Evaluation conducted by the Federal Reserve Board (FRB). This marks Locus Bank’s third consecutive Outstanding rating – the highest possible designation – underscoring the institution’s sustained leadership in community development financial services.
The CRA is a federal law that encourages insured banks to help meet the credit needs of the communities they serve, including low- and moderate-income neighborhoods, consistent with safe and sound banking practices.
“This rating reflects our unwavering commitment to putting mission first while delivering innovative, responsible financial solutions,” said Pravina Raghavan, CEO of Locus. “We are proud to support communities across Virginia through lending, investment, and hands‑on service that expand economic opportunity.”
The FRB evaluation assessed Locus Bank’s community development performance in the Richmond and Blacksburg–Christiansburg–Radford metropolitan statistical areas (MSAs), as well as qualifying statewide and regional activities conducted after Locus Bank met identified needs in its Virginia assessment areas.
Key accomplishments contributing to the Outstanding rating include:
- 880 community development loans totaling $476.4 million, many of which featured innovative or complex financing structures not routinely offered by other lenders
- $6.7 million in qualified community development investments and donations to mission‑aligned organizations
- 3,546 hours of community development service, including leadership roles, financial expertise, and technical assistance supporting affordable housing, community services, economic development, and neighborhood revitalization
This rating reflects what’s possible when mission-aligned capital meets community need. Locus welcomes the opportunity to connect with partners interested in building on this momentum.
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About Locus
Locus is a $412 million nonprofit and parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool, or CIGP. Locus Bank and Locus Impact Fund are certified community development financial institutions (CDFIs). The mission of Locus is to create access to capital by developing community partnerships and innovative tools that tackle systemic challenges and advance opportunities. Locus offers impact-driven solutions including lending, banking, guarantee design and management, and capital ecosystem coordination. Locus works with each community to build investment strategies that lift their assets and meet their unique needs. To date, Locus has achieved $4 billion in total impact across the affordable housing, clean energy, food systems, and small business sectors. To learn more, visit locusimpact.org.