"Banking on Apprenticeship" to Achieve CRA Compliance
Apprentice Power is a nonprofit social enterprise formed by a coalition of apprenticeship grantees and their respective strategic partners. We serve low-and-moderate-income (LMI) individuals and communities while supporting workforce, community and economic development. We also collaborate with banks to broaden the socioeconomic scope and impact of their CRA compliance programs. We provide job opportunities and skills development subsidies to LMI individuals and communitiesthrough their banking relationships. The process is designed to offset CRA compliance costs, increase loans and deposits and advance corporate citizenship.
Apprentice Power supports "Banking on Apprenticeship" a global brand initiative designed to help achieve CRA compliance requirements in the United States while helping to create a framework for impact investing and foreign direct investment between the United States and Switzerland. The initiative supports a more cohesive strategic relationship between the public and private sector education and workforce development systems through the creation of a more holistic continuum of early college high schools, industry-recognized apprenticeship programs, sector-based workforce strategies and the new collar jobs initiative.