An Affiliate mission that supports or is consistent with that of the Applicant’s would be one that may broadly benefit a community even if it is not specifically focused on community development. For example, a parent entity (i.e., the Controlling Affiliate) that has a mission related to environmental protection or sustainability may be considered consistent with a mission of community development, especially if the Applicant offers climate-related financing to a Target Market. Similarly, an Affiliate that offers responsible Financial Products to non-Target Market moderate income borrowers may also be considered to have a mission consistent with an Applicant’s community development mission.
A covered Affiliate that is primarily profit-driven, targets higher-income/wealth populations, or whose activities do not provide an apparent benefit to a Target Market might be considered to not have a mission that is consistent with an Applicant’s community development mission, unless it could show that substantial portion of the Affiliate’s profits are directed at subsidizing activities of the Applicant to further community development in the Target Market.