Bank2 a Bright Spot in Mortgages to Native American Communities
At a time when many Native Americans struggle to secure mortgages from mainstream institutions, Oklahoma City-based Bank2 is fighting for greater financial inclusion. According to 2014 Home Mortgage Disclosure Act data, Bank2 made $38 million in home loans to Native Americans in 2014. That ranks it among the top 20 in mortgages to Native Americans in the country. Bank2 has the highest volume of mortgages to Native Americans of any Native-owned financial institution by a significant margin. More than half of its total mortgages (220 out of 426) were to Native Americans. Native communities face significant problems accessing the mortgage market. For instance, while Anchorage, AK has the highest proportion of Native Americans of any U.S. city at 12.4 percent, only 4.8 percent of mortgages went to Native Americans.