In early 2025, President Trump's executive order aimed at reviewing federal funding for community initiatives put the Native community development financial institutions (CDFIs) at risk. Native CDFIs provide essential financial services and support for Indigenous economic development in underresourced areas, which are often neglected by traditional banks. The CDFI Fund, a critical government program, plays a key role in fulfilling federal obligations to tribal nations. Following the announcement, advocacy groups, such as Oweesta and the Native CDFI Network, swiftly mobilized to protect this essential economic lifeline for Indigenous communities.
The CDFI Fund and Native CDFIs are essential for tribal economic self-determination, providing critical access to financial resources where traditional banks do not.
In 2023, CDFIs demonstrated a loan default rate of 0.36 percent, significantly lower than the industry average, reflecting their effective service to underresourced communities.
#native-american-cdfis #economic-development #federal-funding #indigenous-communities #financial-services
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