A New Credit Union Serves Native American Communities

Without access to traditional banking options, something as simple as grocery shopping or paying bills can seem overly complicated and out of reach. The people of the Northern Cheyenne Indian Reservation knew that feeling all too well, having lived with limited access to a local, community-based financial institution for several years.

The People’s Partner for Community Development (PPCD), a local, Native-run, nonprofit organization, wanted to change that. PPCD undertook what would become a six-year process to form a new credit union to support its community members who battle steep unemployment rates, poverty levels three times that of the state, and some of the lowest home-ownership rates in the nation.

In late 2022, the NCUA approved The Morning Star Federal Credit Union’s new charter, one of only four new U.S. credit unions chartered last year. In the months following their charter approval, The Morning Star team prepared for their May 2023 Grand Opening with the assistance and support of many from the Clearwater team.

“From training Morning Star team members on credit union operations to developing policies and procedures, to being onsite the first week The Morning Star opened, it has been a true honor helping The Morning Star Federal Credit Union establish a new credit union to empower their community,” said Jack Lawson, Clearwater President and CEO. “One of Clearwater’s core values is ‘Together, We Include,’ and we’re proud to support a new credit union in our state committed to helping its community thrive.”

According to Maria Valandra, Clearwater Vice President of Community Partnerships and Indigenous Strategy, the grand opening was a success. “We were honored to be a part of bringing this vital banking resource to the community to support a common goal of financial inclusion.”

John De Groot, Clearwater’s Chief Financial Officer, described the grand opening as inspiring. “The Lame Deer community decided to solve the problem themselves,” De Groot continued. “It was a true representation of the credit union movement of people helping people and empowering communities to help themselves.”

“It’s inspiring to see community members identify a need and take action,” remarked Bill St John, Senior Vice President of Consumer Banking. “Forming this credit union was an enormous undertaking, and I’m happy for the Morning Star team. It’s been a very rewarding experience, and I’m thankful for the opportunity to help and for the friends I’ve made in the process.”

Since its grand opening, The Morning Star has seen a steady rise in membership, and they know they can reach out to the Clearwater team at any time for support and advice. Meagan Kraft, Clearwater Senior Vice President of Operations, added, “I feel privileged to have been a part of supporting The Morning Star Federal Credit Union. It’s truly beautiful to see people come together to support a common goal of financial inclusion. We’ve made some great new friends and colleagues along the way.”