Bank2 is a full service bank that is 100 percent owned by the Chickasaw Nation Native American Tribe. Bank2 strives to set the standard for corporate citizenship by meeting the needs of the local community. Valuing its minority heritage, Bank2 understands the importance of committed relationships and takes pride in providing superior service and high quality financial products. Since its inception in January 2002, Bank2 has already made $400 million in loans benefiting the community.
- Checking and Savings- Bank2 offers a range of checking services such as Free Checking, Checking2, NOW Account2, and Money Market2 and savings accounts to meet the specific banking needs of different individuals. Bank2 also offers internet banking and internet bill pay which is another mechanism available to Native Americans who seek to integrate into the financial market.
- Small Business Loans- Through its small business lending program, Bank2 is able to support enterprises that will impact Indian Country with SBA and BIA loans.
- Real Estate Loans and Mortgage Products- Through its mortgage department, Bank2 has become the Nation's leading Native American Home Lender working directly for and with individual Native Americans and the Tribal Housing Authorities to provide funding for homes in Indian Country.
- Department of Energy Administrative Financial Institution- AFI status makes Bank2 a conduit between the Department of Energy and other minority-owned financial institutions.
- CDARS Depository Insurance Program- With the CDARS program, Bank2 can offer FDIC insurance on accounts with deposits of up to $50 million.
Bank2 specifically aims to serve Native American small businesses and individuals not only across Oklahoma but the entire country. The bank has a special focus on the Oklahoma City area and the 13-county jurisdictional area of the Chickasaw Nation in south central Oklahoma, a minor urban area. Many of Bank2's clients are minorities; about 53 percent of its clients are Native Americans. A total of 15 percent of Bank2 clients have a household income at or below 80 percent of the area median income.
Since its inception in 2002, Bank2 has significantly impacted small business and has made homeownership a reality for many who would not have been able to secure a mortgage elsewhere. The bank has made hundreds of small business loans totaling $10s of millions. In the area of housing, Bank2 has financed over 1,000 housing units and has developed or rehabbed 500 single-family homes. These efforts have benefited the lives of thousands of clients. Although Bank2 is only based in Oklahoma its work has impacted every state except Alaska.
The Oklahoma Native American Business Development Center (ONABDC) has selected Bank2 as the “2004 Service Firm of the Year”, announced Marcus Vega, ONABDC Project Coordinator. The award is presented as part of the Oklahoma Minority Enterprise Development (MED) Week. The theme for this year is, "Propelling Native American Businesses to New Heights." MED Week seeks to recognize outstanding minority-owned businesses that have overcome significant odds to become successful enterprises. Full Story