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Tribal owned Bank

Arlene Catches the Enemy Initiative. Key Players: Bob Ecoffey, & David Mills. Due to low technical capability of human resources it has been proven that a tribal owned bank is not feasible at this beginning stage of development. A more reasonable approach would be for a bank to branch onto the reservation. Long term planning for this project is to include a green state of the art secure bank building to be constructed in the empty lot adjacent east of Subway. (In preparation of 2015 funding, the old BIA house was demolished that used to sit on that site). Banks interested in branching include First National Bank of Gordon; Dakota bank, & Bay bank of the Oneida tribe.

CHALLENGES:

1) Intrastate branching law prohibiting Nebraska reciprocity;

2) Oglala Sioux Tribe Court Training RE:business proceedings in compliance with the UCC code-Funding for this training located by OSTOED, but noncooperation from court administration & OST Credit Program create hold up of “Regulatory” project;

3. OST Treasurer-Bay bank signed a Nondisclosure agreement in request of viewing OST investments as part of branch agreement–it is still pending Treasurer approval. LONG TERM VISION-Initial bank branch would provide a training program through Oglala Lakota College to educate our people in how to perform these banking jobs in preparation for eventual tribal ownership.

bank

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