Lance Morgan, president and CEO of Ho-Chunk, Inc.

HoChunkInc.com

Lance Morgan, president and CEO of Ho-Chunk, Inc.

Ho-Chunk Inc. Becomes Major Shareholder of the Native American Bank

Lance Morgan, president and CEO of Ho-Chunk, Inc., said on Monday that the economic development corporation for the Winnebago Tribe of Nebraska has become a major shareholder in the Native American Bancorporation Co.

“First and foremost, we saw this as an excellent investment opportunity for Ho-Chunk, Inc.,” Morgan said in a news release, adding “but we also understand that access to capital is a major economic hurdle for tribal communities and truly wanted to be part of the solution.”

The Native American Bank, N.A. (NAB) is headquartered in Denver, Colo., and has a retail branch and loan production office in Montana. The bank specializes in commercial loans to Native American governments and enterprises, as well as home loans to Natives.

Native American Bancorporation Co. was formed in 1988, and in 2001, twenty tribal nations and Alaskan Native Corporations set out with a dream “to create a national bank to serve all Native people, communities, governments and enterprises across the country” and established Native American Bank, N.A. (NAB), its website says. Both the Native American Bancorporation Co. and NAB are certified Community Development Financial Institutions, whose purpose is to promote economic development in areas that are underserved by traditional financial institutions. 

RELATED: Indian Housing Projects Get $5 Million in 2014

RELATED: Grow Their Own! California Tribe Will Grow Medical Marijuana on Tribal Land

The projects NAB has supported include $5.2 million for a recycling facility in Florida, $5.5 million for a new hotel in Montana, $1.7 million for a new general store in a remote Alaska village and nearly $8 million for housing projects in South Dakota and North Carolina.

“We have made a concerted effort to source projects that meet the bank’s mission while providing economic diversity and meaningful jobs,” Thomas Ogaard, president and CEO of NAB and the Native American Bancorporation Co. “The capital support provided by Ho-Chunk, Inc. is a valuable resource that allows us to continue these efforts, grow the bank and make a difference in the lives of the people we serve.”

 “This is the first and only bank to exclusively serve the financial needs of Indian Country,” said Morgan.

 

Comments

Comments are closed.

Credit Card Identification Number

This number is recorded as an additional security precaution.

americanexpress

American Express

4 digit, non-embossed number printed above your account number on the front of your card.
visa

Visa

3-digit, non-embossed number printed on the signature panel on the of the card immediately following the card account number.
mastercard

MasterCard

3-digit, non-embossed number printed on the signature panel on the back of the card.

Enter Your Log In Credentials

Send this to a friend

Hi,
I thought you might find this interesting:
Ho-Chunk Inc. Becomes Major Shareholder of the Native American Bank

URL: https://indiancountrymedianetwork.com/news/business/ho-chunk-inc-becomes-major-shareholder-of-the-native-american-bank/