Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Native American Bank lands significant investment


The Native American Bank is headquartered in Denver, Colorado. Courtesy photo

A financial institution established by famed Native banker and activist Elouise Cobell is celebrating a significant investment by the second largest bank in America.

Bank of America recently announced that it had deposited $10 million into the holding company for the Denver-based Native American Bank, the country's only Native-owned nationwide bank. The investment makes Bank of America a 4.9 percent owner of the bank.

"I think it says a lot about Native American Bank," said Tom Ogaard, president of CEO of Native American Bank. "I think it says a lot about Bank of America."


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