<p>CRA-NC has developed a set of investment metrics for the Community Investment Index Fund, a project of the F.B Heron Foundation in conjunction with Innovest Strategic Value Advisors.</p>
<p>The Community Investment Index is a positively screened socially responsible investment fund. CRA-NC provides an evaluation of financial institutions based on public data and secondary sources to measure the extent of mortgage, small business, and community development funding to low-income, rural and minority communities in the United States. 
<p>CRA-NC owns stock in 53 financial institutions. Our shareholder advocacy includes dialogue and resolutions to address the negative business and social impacts of subprime lending, payday lending, and refund anticipation loans.</p>
<p><center><h3><em>Socially Responsible Investing (SRI) seeks to link social values with equity investment in publicly traded companies.</em></h3></center></p>
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<h3>Construction of SRI Indices</h3>
<p>CRA-NC works with the <a href="http://www.fbheron.org/">F.B. Heron Foundation</a> and <a href="http://www.innovestgroup.com/">Innovest Strategic Value Advisors</a> to create a section of the Community Investing Index. The effort serves as a long-term, real world demonstration of the performance of a quantitatively designed SRI instrument.</p>
<p><a href="http://cra-nc.org/files/Download/Community%20Investing%20Index%20for%202007.pdf">A copy of our latest analysis is available here (pdf).</a></p>
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<h3>Advocacy through Ownership</h3>
<p>CRA-NC owns a portfolio of more than fifty financial stocks.</p>
<p>We have utilized those positions to support our advocacy.  We have filed shareholder resolutions with Wells Fargo (cease the funding of payday lending) and H&R Block (against refund anticipation loans). In January 2008, we used our shares to speak at a First Charter shareholder's meeting against the pending merger with Fifth Third Bank.</p>
<p>We have developed some financial analysis tools for SRI investors.  Please <a href="contact-us">contact us for more details</a>.</p>
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<h3>SRI groups</h3>
<ul><li><a href="http://www.calvert.com">Calvert Group</a>
<li><a href="http://kld.com">KLD Research and Analytics</a>
<li><a href="http://trilliuminvest.com">Trillium Asset Management</a>
<li><a href="http://www.citizensfunds.com">Citizens Advisers, Inc.</a>
<li><a href="http://www.cbisonline.com">Christian Brothers Investment Services</a>
<li><a href="http://www.domini.com">Domini Social Investments</a></li></ul>