When it began operations and went online last week, the first and maybe only federal credit union in the nation with a part-time competitive rodeo rider as a manager opened its doors.

The brand new Lacota Federal Credit Union is the only financial institution serving the residents of the more than 3,400 square miles of the Pine Ridge Native American Reservation in South Dakota, one of the poorest in the nation.

The new credit union, which has already been granted a low-income designation, will begin by taking deposits and offering a limited range of loans, including auto loans capped at no more than $5,000.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.