The History of Colville Tribal Credit
The Colville Tribes established Colville
Tribal Credit in 1959. The Tribe
used its funds from trust income to start up Tribal Credit. The original program provided only loans
to Colville members and was administered by the Bureau of Indian Affairs
(BIA).
In
1979, the Tribal Credit program was transferred from BIA administration to
the Tribe and became a tribal operated program under the jurisdiction of
the Colville Business Council’s finance committee.
In
April 1986, management oversight of Tribal Credit was transferred to
Colville Tribal Enterprises Corporation, the business arm of the
Tribe.
We
are a financial enterprise of the Colville Tribe – we are not a bank with
deposit accounts for checking or savings or a credit union that serves in
part non-tribal members. This
structure allows our business to operate without being regulated by the
U.S. Comptroller of Currency, parts of the US Treasury Department, or other
outside regulators.
In
2008 Colville Tribal Credit was incorporated into a tribal government
corporation solely owned by the Tribe.
Our operating policies are governed by the Colville Tribal Credit
corporation board of directors. Our
board of directors are appointed by the Colville Business Council. This structure offers many advantages to
our operation and our tribal member customers - including the opportunity
to determine with our own sovereignty our own regulations without
intervention from outside governments.
Our Mission
Colville
Tribal Credit is a tribally owned, self-sustaining, sovereign financial
enterprise whose purpose is to provide loans to tribal members and tribal
member-owned businesses.
Through
our loan program we strive to enhance the quality of life of tribal members
by supplying loan funds for personal use, housing purchase and improvement,
land purchase and business opportunities.
Check
cashing and money order services are offered to promote access at the local
level.
We offer
employment opportunities to tribal members and encourage career advancement
through education and training.
We
strive to communicate effectively with tribal members and co-workers and
conduct our business with integrity while providing the highest quality of
customer service.
While
meeting our objectives to provide interest rates at below market levels, we
will continue to operate our business at the highest level of profitability
in a portfolio of higher than normal risk loans.
Overall, Colville
Tribal Credit will provide long-term economic stability and growth in our
communities by providing financial services to qualified tribal members,
resulting in a higher quality of life while preserving the cultures,
traditions and natural resources of the Colville Confederated Tribes.
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