Native American Bank, NA
In 2001, twenty Native American tribes and Alaskan Native corporations established a national bank to serve all Native people, communities, governments and enterprises across the country. Today Native American Bank is the only Native owned, federally chartered bank in the United States. Native Americans have long been subject to an acute lack of access to credit and financial services preventing individuals as well as communities from achieving self-sufficiency and financial security. NAB pools economic resources from Indian tribes and tribal entities all across the country to support economic independence and cultivate self-determination in Native American communities.
This week, The Clearinghouse CDFI announced a $195,000 investment in Native American Bank, the only Native American-owned, nationwide financial institution. With this investment, Clearinghouse CDFI becomes Native American Bank's first CDFI investor out of thirty-four different shareholders. "We are pleased to make this investment," said Clearinghouse CDFI President and CEO Douglas Bystry. "We are excited to partner with them in providing affordable and flexible financial services to Native American and Alaskan Native individuals, enterprises, and governments."
Blackfeet tribal community leader Elouise Cobell was recently announced as one of 21 recipients who will receive the Presidential Medal of Freedom, the nation's highest civilian honor. Cobell is an advocate for Native American self-determination and financial independence and in this vein was one of the founders of CDBA member Native American Bank.