PROVIDENCE – HarborOne Bancorp Inc., the parent company for HarborOne Bank, received the highest possible federal rating for its compliance with the Community Investment Act, according to a news release.
The “Outstanding” rating by the Federal Deposit Insurance Corp. reflects a review of the bank’s lending, investment and service in its community as outlined in the Community Investment Act.
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The latest score marks the second consecutive rating of top marks, the release stated.
In its review, which reflects performance from December 2017 to January 2021, the FDIC noted the bank’s “innovative and flexible” home and business loan offerings for low- and middle-income borrowers, according to the release. The FDIC also noted the company’s community development loans, which spurred affordable-housing construction, and small-business loans that led to job creation.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
