Hoping to build support among American Indians and the broader Denver community, the Democratic National Convention Committee deposited $2 million in the Denver-based Native American Bank today.
The DNCC’s chief executive, Leah Daughtry, handed over the check at a morning ceremony at NAB headquarters.
The money is part of $16 million the Federal Election Commission gave to the DNCC this summer as part of the normal convention-operations budgetary process.
Daughtry said the money will remain in the NAB until late spring and will draw no interest. The deposit means the bank, which has deposits of $79 million, can float more small-business loans and home loans to its customers.
J.D. Colbert, the bank’s president and chief executive, said many corporate banks overlook American Indians, particularly those who live on reservations.
“We like to say we go boldly where others fear to tread,” Colbert said of the 6-year-old, profitable bank, shortly before accepting the check.
