Utoo Radio with Other News Sources - August 11, 2024 - The First Nations Bank of Canada (FNBC) is expanding its Alberta branch to serve Indigenous communities.

The bank's latest branch in Maskwacis, Alta., is the second in the province and the 20th overall across the country.

The bank's partnership with Ermineskin Cree Nation, the nation's corporate division, Neyaskweyahk Group of Companies Inc., became the bank's largest shareholder in 2022.

The branch will also serve the other three nations of Maskwacis: Samson Cree Nation, Louis Bull Tribe, and Montana First Nation. FNBC is aiming to expand its services to reserve and Indigenous communities, as they are still underserved in banking and financial resources.

FNBC board member Danika Littlechild believes that access to local expertise from an Indigenous-owned business is important, as 80% of the bank's shareholders are Indigenous. Five Indigenous staff members will run the Maskwacis FNBC branch, with two specifically from the local community.