WASHINGTON — The most recent award of funds from the U.S. Treasury Department's Community Development Financial Institutions fund's Native American CDFI Assistance (NACA) Program has included money for developing a new Native American Credit Union.
According to the award announcement, just over $3.6 million was awarded to19 organizations serving Native American or Alaskan Native communities in 12 states. One of those was the Pascua Yaqui Tribe, headquartered in Tucson, Ariz.
The Pascua Yaqui were awarded $140,000 to help fund the start up of a new federal credit union, the award said. The credit union's first field of membership will be tribal members and non-tribal members who work for the tribe's government and casino operation.
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The award said the tribe was hoping to receive a charter for the CU by June 2007, but NCUA has not announced any charter for the Pascua Yaqui so far this year.
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