Bright Spot in Indian Mortgages: Indian-Owned Banks

Record Number: 
FOGA002
Citation: 

Fogarty, Mark. "Bright Spot in Indian Mortgages: Indian-Owned Banks." Indian Country. January 8, 2016. 

Annotation: 

This article discusses banks owned by Indians that give Natives loans in higher percentages than their part of the population. Lumbee Guaranty Bank in Pembroke is one of the banks mentioned.

Lumbee Guaranty gave away the third most mortgages to Indians, providing $6.2 million to Native Americans in 2014. That equals 45 percent of the mortgages the bank made in total.

Other banks mentioned were Bank2 in Oklahoma City which gave $38 million of its mortgages to Native Americans, and Bay Bank in Green Bay, Wisconsin. At Bay Bank, 70 percent of mortgages were made to American Indians. 

Key Source?: 
no
First Appeared in 1994 Book?: 
no
Publication Type: 
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