From left: Joel Smith, Chief Credit Officer at Native American Bank; Steve Roda, Northwest Credit Manager for the Department of the Interior; Tom Ogaard, President and CEO of Native American Bank; Shanna O’Reilly, Department of the Interior and Clay Colombe, Chief Lending Officer at Native American Bank. Photo from Native American Bank
The Native American Bank has been designated as a "performance lender" by the Bureau of Indian Affairs. The bank has participated in the BIA's loan guarantee program successfully for five years. During that time, the bank has maintained a minimum outstanding balance of $2 million in loans and has demonstrated a "superior record" in promoting Indian economic development. "Native Americans often face the absence of access to financial capital and services, which is a significant impediment towards the realization of self-sufficiency and financial freedom," said Native American Bank President and CEO Thomas D. Ogaard. "We are proud to have passed the rigorous standards set by the Department of the Interior regarding the Loan Guarantee, Insurance and Interest Subsidy Program." The bank is one of just three lenders to earn the designation, according to the press release. The bank is based in Denver, Colorado. Its shareholders are tribes, tribal entities and Alaska Native corporations and it specializes in tribal economic development projects and home loans for Native Americans.
Join the Conversation
