Authors
Abstract
We present the most extensive mapping to date of the U.S. Native Community Development Financial Institution (NCDFI) industry, based on a comprehensive new survey that we developed and administered to 49 certified and emerging NCDFIs. The survey uncovers key industry practices that reflect the distinctive concerns and cultures of the Native communities served by the NCDFIs. We explore the diversity of the NCDFI industry in terms of age, size, and geography, as well as strategic goals, risk assessment practices, and main perceived challenges and opportunities. Using cluster analysis, we identify and characterize four distinct NCDFI profiles and compare these NCDFI profiles based on product offerings, development services, and organizational practices. Our analysis illuminates both fundamental differences and important commonalities among organizations that play a crucial role in expanding access to credit, fostering entrepreneurship, and enhancing housing in Native communities.