Did you know that Native-owned banks have a combined asset base of almost $3 billion?
The Center for Indian Country Development (CICD) recently published an interactive map of all 100-plus Native American financial institutions across Indian Country. The dynamic map demonstrates the national scope of Native American Financial Institutions— banks, credit unions and CDFIs—that serve the capital needs of American Indian, Alaska Native and Native Hawaiian individuals and communities.
The CICD, based at the Minneapolis Fed, seeks to help self-governing communities of American Indians attain their economic development goals. The idea for the CICD was initiated by Sue Woodrow, who today serves as Community Development Advisor for the Federal Reserve Bank of Minneapolis, based in the Minneapolis Federal Reserve Bank’s Helena, Montana Branch. Woodrow joined the Federal Reserve Bank of Minneapolis as an attorney in 1990.
Patrice Kunesh has lead the Center for the past three years. The CICD recently hosted an event for Native American Financial Institutions from across the nation. The first-of-its-kind convening of Native banks, credit unions and community development financial institutions at the KwaTaqNuk Flathead Resort in Polson on August 27 was designed to increase awareness about the wealth of resources, products and capacity of Native financial institutions. Attendees explored opportunities to leverage capital among Native financial institutions to catalyze development across Indian country.
Among other recent CICD initiatives, in July the Center published “The Tribal Leaders Handbook on Homeownership,” which provides a comprehensive overview of the lending and housing development process, preparing borrowers in Indian Country to become successful homebuyers. (Read Native Business Magazine’s article “Handbook Seeks to Boost Reservation Homeownership.”)
This article was originally published by Native business here