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Community Development Bank, FSB
516 Main Street West, P.O. Box 38Ogema MN, 56569-0038
CDFI Awards for Community Development Bank, FSB
FA (2007) - $480,000
Community Development Bank, FSB, is a for-profit federally chartered savings bank. It has been operating under its current ownership since 2001. It is a certified CDFI that serves the White Earth Indian Reservation in northwestern Minnesota. The community bank also serves three contiguous counties in Minnesota - Becker, Clearwater, and Mahnomen. Its focuses on consumer banking services, home mortgage lending, and asset building primarily targeting Native Americans. Community Development Bank will use its FY07 Financial Assistance award to make more loans, increase its loan loss reserves, and develop a more targeted marketing program.
FA (2005) - $877,800
The CDFI Fund"s Financial Assistance award of $877,800 will be used to establish the Native and Emerging Markets Fund, a $2 million loan pool to make home mortgage and consumer loans to low-income minorities on the White Earth Reservation and in the nearby rural community of Blackduck. The $50,000 technical assistance award will fund the bank"s first ATM machines to provide 24-hour banking services in three sites as well as improve their technology to track impact.
BEA (2002) - $240,382
Community Development Bank, F.S.B. of Ogema, Minnesota, received $240,382 for Development and Service Activities.
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Great Neighborhoods! Development Corp.
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Greater Minnesota Housing Fund
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Habitat for Humanity of Minnesota, Inc.
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Indian Land Capital Company
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Indian Land Tenure Foundation
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Initiative Foundation
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Leech Lake Band of Ojibwe
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Midwest Minnesota Community Development Corporation
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National New Markets Tax Credit Fund, Inc
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Sparc
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University National Bank
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WomenVenture
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