Roughly 8 percent of the 917 community development financial institutions (CDFIs) in the U.S. are categorized as Native CDFIs (NCDFIs), which means they serve primarily American Indian, Alaska Native, or Native Hawaiian communities. Due to a mixture of historical, political, and geographical factors, these communities tend to face profound challenges: high rates of poverty and unemployment; lack of physical, legal, and telecommunications infrastructure; and limited access to affordable financial products and services, to name a few. NCDFIs are working to change the landscape by filling credit and capital gaps and providing Native consumers, entrepreneurs, and potential homebuyers with needed information and training to access traditional lenders...
Additional Information
Kokodoko, Michou. "Strengthening the role of Native CDFIs: A conversation with Gerald Sherman of the Native CDFI Network." Community Dividend. January 30, 2015. Blog. (https://www.minneapolisfed.org/article/2015/strengthening-the-role-of-native-cdfis-a-conversation-with-gerald-sherman-of-the-native-cdfi-network, accessed January 22, 2024)
