LATHAM, N.Y. – As an outlet to help invest its business proceeds, the Seneca tribe of American Indians is exploring chartering its own credit union or bank. The New York State Credit Union League reports the proposed financial institution would help the Senecas develop their fledgling mortgage program, created this spring with $10 million from the Seneca’s two casinos in Niagara Falls and Salamanca. The tribe has been exploring the banking option for more than two years, the league reports. The Senecas may also use the credit union or bank to invest the proceeds it receives from its gambling casinos.

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