Native News Network Staff in Native Briefs. Discussion »
WASHINGTON Following the publication of the Office of the Comptroller of the Currency, OCC, August Community Development Investments ezine, entitled "Extending Credit in Indian Country," the Native American Financial Services Association applauded the agency's focus on showing the banking industry both the opportunities that exist and the successes that have been realized through investments on American Indian reservations.
The entire issue is devoted to highlighting some of the best practices, challenges, and treatment of investments, service, and credit extensions made by national banks and federal savings associations in Indian country. As American Indian reservations badly need capital to counter the lingering problems caused by unemployment and poverty, the publication presents several of the real opportunities for banks to contribute to needed changes while making a profit.
“We welcome every chance to show the wealth of opportunities that can be had through investments on Native American reservations and appreciate the OCC standing with Indian country to show the world that these opportunities exist,”
said Barry Brandon, Executive Director of the Native American Financial Services Association.
"For too long, there has been a lack of investment in our communities, in part because banks have not understood tribes and have been blind to the investment opportunities that exist on reservations. Coupled with the difficulty we face in developing our own investment opportunities, this presents serious challenges for economic development on our reservations."
“Today, tribes are at long last starting to take control of their economic future through tribal online lending enterprises,”
"These enterprises are creating significant revenues for tribes' governmental budgets and we are happy to partner with banks who work with us to process ACH payments. We look forward to a continued future partnering with banks in this capacity, in addition to furthering important investments in our communities in the ways outlined today by the OCC."
Community Developments Investments is an ezine that captures the creative ideas of bankers and community development practitioners investing in community development. The publication also identifies common features that can be applied to other investments, presents investment opportunities in the OCC Districts, and provides links to related resources, including the OCC's public welfare investment authority.
The "Extending Credit in Indian Country," publication can be read by here.
posted September 3, 2013 6:40 am edt