Patent ID: 7430536

Claim:
A method for assisting a bank in meeting all or a portion of the bank's investment test requirement under the Community Reinvestment Act (CRA) on a tax-advantaged basis through use of cash value life insurance policies on the lives of employees of the bank or an affiliate of the bank, wherein the cash-value life insurance policies designate the bank, the affiliate or a trust as owner and beneficiary, and wherein assets which support the cash value of the life insurance policies are maintained in a separate account that is protected from general creditors of an issuer of the life insurance policies, comprising: using the assets from the separate account to purchase one or more bank-eligible securities that are qualified investments, each of said qualified investments constituting an investment, deposit, membership share or grant that would have been lawful under the CRA as it existed on August 15, 2005, and having as its primary purpose community development, wherein the assets in the separate account grow on a tax-advantaged basis; and attributing specific qualified investments in the separate account to the bank to satisfy the investment test requirement of the bank under the CRA.