Independent Banker - November 2022 - 52

service to Native Americans.
" The challenges for a lot of the
Native communities are formidable, "
Ogaard says. " There are so many roles
that need to be filled and so many
opportunities to provide support that
any one bank just can't do
it alone. "
" As we do particular projects and
talk to tribal leaders throughout
the country, we're asking them
what is it that they need and
how can we help with that need.
It's not simply a transaction for
us; it is building a relationship. "
- Tom Ogaard,
Native American Bank
Investing in
homeownership
Housing in many Native
American communities,
whether on reservations
or in non-reservation
communities, is in serious
need of investment. A
2017 report from the
United States Department
of Housing and Urban
Development (HUD)
estimated that 68,000 units
of housing were needed to
replace " severely inadequate
units " and reduce
overcrowding in tribal areas.
Consequently, providing home
financing is one of the key roles Native
American banks play. And much of
that involves creatively sourcing funds
and helping Native governments
leverage them.
In fact, the governor of the
Chickasaw Nation, Bill Anoatubby,
had a mission to provide capital in
Native land, where it was scarce.
That was a key reason Chickasaw
Community Bank was founded in
Oklahoma City, Okla., in 2002, says
Josh Pape, Oklahoma City market
president for the $418 million-asset
community bank.
" The bank really wanted to be a
leader in providing home ownership,
the cornerstone of the American
dream, to Native Americans, " Pape
says. " It was always unsettling that
the first people here owned homes at
the lowest rate of any demographic in
the United States. And so, the bank
really sought to be a leader in that,
and we certainly have been. "
Pape explains that Chickasaw
Community Bank has originated
more than $1 billion in home loans
and is currently servicing more than
$1 billion of mortgages for Native
American homeowners.
A key tool for Chickasaw
Community Bank and others serving
Native American communities is the
HUD Section 184 Indian Home Loan
Guarantee Program. This program,
established in 1992, guarantees
home loans to American Indian
and Alaska Native families, Alaska
villages, tribes or tribally designated
housing entities. It also allows for a
down payment
of just 2.25%
and flexible
Lumbee Guaranty
Bank established a
$25,000 endowed
scholarship fund at
Fayetteville State
University to help
students meet
their academic and
career goals.
underwriting.
" The HUD
184 loan is
primarily for
individuals to
buy houses,
but we also are
able to use it
for tribes, such
as a housing
authority
building a oneto
four-family
affordable
housing project, "
Pape says.
Chickasaw
52 Q ICBA Independent Banker Q November 2022

Independent Banker - November 2022

Table of Contents for the Digital Edition of Independent Banker - November 2022

Table of Contents
Independent Banker - November 2022 - Intro
Independent Banker - November 2022 - Cover1
Independent Banker - November 2022 - Cover2
Independent Banker - November 2022 - Table of Contents
Independent Banker - November 2022 - 2
Independent Banker - November 2022 - 3
Independent Banker - November 2022 - 4
Independent Banker - November 2022 - 5
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