Native American Financial Services Association

The Native American Financial Services Association (NAFSA) is a 501(c)(6) trade association formed in 2012. It was established to advocate for the economic development opportunities of tribal nations within the financial services sector. NAFSA is headquartered in Washington, D.C., and works to promote transparency, value, and advocacy for the sovereign rights of Native American tribes.

Mission and Objectives

NAFSA focuses on improving economic conditions in Indian Country by providing access to alternative financial services. These services are crucial for many Native American communities, which often face barriers such as lack of collateral, poor or no credit histories, and geographical isolation from mainstream financial institutions. By supporting tribal financial services, NAFSA aims to increase financial independence among tribes and reduce their dependency on federal government assistance.

Governance and Leadership

The organization's board of directors consists of nine dedicated tribal leaders, each of whom is an elected officer of a federally recognized tribe's governing body. This leadership structure ensures that NAFSA's decisions and policies align with the interests of Native American communities.

Activities and Services

• Consumer Protection: NAFSA members adhere to strict Best Practices to ensure the protection of consumer rights and provide quality financial services.
• Economic Development: NAFSA supports the creation of jobs and economic opportunities through the development of tribally offered financial products.
• Sovereignty Advocacy: The organization advocates for the rights of Native American tribes to operate sovereign financial institutions.

Financial Status

As a nonprofit organization, NAFSA primarily derives its revenue from program services, with no contributions or investment income reported. Executive compensation forms a significant portion of its expenses. As of the latest available data, the organization maintains modest assets and liabilities.

Impact

By facilitating financial inclusion and supporting tribal economic development, NAFSA plays a vital role in enhancing financial stability and self-determination among Native American communities. Its efforts contribute to a broader initiative to strengthen financial capabilities in Indian Country.

[1] https://nativefinance.org/about-nafsa/ [2] https://www.mynafsa.org [3] https://projects.propublica.org/nonprofits/organizations/455572815 [4] https://www.minneapolisfed.org/indiancountry/resources/mapping-native-banks [5] https://www.bokfinancial.com/commercial/commercial-and-institutional-financial-solutions/our-industry-expertise/native-american-financial-services