Company: Chickasaw Society Financial, Oklahoma Town, OKEntry Filed Of the: Schnake Turnbo FrankCompany Description: Chickasaw Community Bank was an entire-solution financial institution which provides a varied assortment of examining account, savings profile, money issues, mortgages and you will credit services to people and you can companies all across the new region. Since , Bauer Economic ranked you as the an effective 5-star lender, and we have been consistently listed in the top fifteen% of all of the U.S. financial institutions from the Seifried & Produce LLC.Nomination Category: Providers / Providers CategoriesNomination Sandwich Class: Providers of the season – Banking – Medium
Nomination Title: Chickasaw Neighborhood Lender, Oklahoma Urban area, Okay
Chickasaw Neighborhood Financial (CCB) is a full-service financial institution for individuals and businesses across the U.S., under the leadership of Native American and African American CEO, T.W. Shannon.
Founded by the Chickasaw Nation and headquartered in Oklahoma City, OK, CCB is a 100% tribe-owned bank with a mission to build better lives for everyone. Rebranded from Bank2 to Chickasaw Community Bank, it serves as a hub for minority and underserved communities and a partner for small businesses. CCB is one of just 17 Indigenous American-had community banks in the U.S. and has grown to $250 million in total assets. As of , Bauer Financial rated CCB a 5-star bank, and it has consistently been placed in the top 15% of all U.S. banks by Seifried & Brew LLC.
Chickasaw Neighborhood Bank – Company of the year – Financial
During the 2017, CCB (called Bank2 during the time) funded a beneficial transformational housing enterprise for the Arizona state, strengthening forty five housing products to possess Native American family members seeking to sobriety and you may so you can win back children away from promote care. CCB offered a multi-million dollars Identity V1 loan and you may walked new Lummi Country thanks to this new complicated Title V1 process, and you can was acknowledged by new U.S. Institution away from Houses and you may Urban Advancement.
Chickasaw Neighborhood Financial (CCB) finished 2020 that have net gain more than half a dozen-flex the fresh new projections an archive-breaking season out-of gains in the course of unmatched volatility in the market and you can benefit. Proper preparation and you will believe organized CCB to receive which swell away from growth in a manner in which few area banks across the country have addressed. CCB processed the greatest amount of HUD-184 money of every lender on the You.S., and making use of their circle regarding loan providers grew to become helping to fill the fresh homeownership gap which have Local People in the us across the country. Instance a wave that raises all of the ships, CCB partnered which have nearby group, Cherokee Nation, to cover more 600 book-to-own, multi-generational home to have displaced tribal family. CCB along with displayed one society financial institutions try important partners having short businesses unable to get well financially regarding COVID’s destruction, and complete this new emptiness for these turned into aside from the larger banking institutions. CCB funded nearly $twenty-seven million when you look at the PPP finance from inside the 2020, that have millions way more from inside the processes, both for customers and you may low-people.
From inside the 2020, CCB reached an annual earnings of $10.one million (an increase regarding 314% off 2019), full industrial financing away from $127.5 million (an increase of %), and you may increased mortgages from the 60% out of 2019, getting $555 mil. To further its people financial support, the bank’s the newest Brand name Ambassador system to assist produce the second age group regarding people involvement comes with Carrie Underwood’s guitar player (a keen Oklahoma local) while some sharing the personal reports, using CCB since a patio to assist someone else create the performance, strengths and you may enjoy.
The bank’s achievements are more than numbers and statistics; they represent a success model for serving customers and systemic opportunity that can be replicated by banks across the U.S. The significance of Chickasaw Community Bank being the #1 bank in the U.S. in providing HUD-184 loans lies in the fact it is the leading bank making the dream of home ownership more accessible to Native Americans nationwide. Numerous studies have shown that Native American housing conditions are substantially worse than other U.S. households. According to Local Western Housing Need Study conducted by U.S. Service out-of Houses and you may Urban Creativity, 17 percent of households in Indian installment loans online in Rhode Island country had one or more non-family members staying with them because they had nowhere else to go, and more Native Americans are living in overcrowded, unsound homes that are lacking proper heating and electrical than any other U.S. minority. As CCB is 100% tribal owned, and led by T.W. Shannon, a Chickasaw native, these statistics are deeply personal. Processing the highest volume of HUD-184 loans, building 600+ homes for Chickasaw and Cherokee tribal members and funding millions in PPP and mortgage loans is all about lending a critically-needed hand to people in need. CCB’s achievements since 2019 have not only been the tidal wave of growth of the bank itself, but also its tireless commitment to better the lives of everyone that has created a positive, measurable and lasting impact for Native Americans.
An instance learn from brand new You.S. Agencies off Property and Metropolitan Invention plus the Place of work of Indigenous Western Apps is actually connected, that offers further outline concerning transformational housing investment Chickasaw Community Lender financed (due to the fact referenced from inside the answer to the question: Briefly explain the fresh nominated providers).