In a major step forward for Indigenous economic growth, the First Nations Bank of Canada (FNBC) has raised $9 million in new investment from Indigenous-led groups across Canada. This funding will help support loans for Indigenous businesses, governments, and entrepreneurs, helping to grow communities and create long-term wealth.
This article explains everything in simple terms — who invested, why it matters, what programs it supports, and how this move strengthens Indigenous financial power in Canada.
What is the First Nations Bank of Canada (FNBC)?
First Nations Bank of Canada is a special bank mainly owned and run by Indigenous communities. It started in 1996 and is now 88% Indigenous-owned. FNBC focuses on offering full banking services to First Nations, Inuit, and Métis people, including:
- Loans and mortgages
- Investment options
- Business banking services
- Trust services through its company, FNB Trust
This bank is part of major Canadian banking systems and is an approved lender with organizations like the Canada Mortgage and Housing Corporation.
New $9 Million Investment: Who Are the Investors?
In August 2025, FNBC announced a $9 million equity raise. This money was provided by five powerful Indigenous organizations and communities:
| Investor Name | Location / Treaty | Type |
|---|---|---|
| Whitefish Lake First Nation #128 | Treaty 8 – Alberta | Community |
| Úújǫ Developments | Treaty 8 – BC | Development Firm |
| Doig River First Nation | Treaty 8 – BC | Community |
| Dáanaa Jíli (Cache) Trust | Yukon | Existing Shareholder |
| Athabasca Basin Development | Saskatchewan | Investment Firm |
These are not just random investors – they are partners who believe in the power of Indigenous-led finance. Many of them are already part of the FNBC ownership or network.
Why This Investment Matters
This $9 million boost shows trust and support in FNBC’s vision. According to Bill Lomax, the bank’s CEO:
“These are not just investors – they are partners in building an Indigenous-led financial institution capable of accelerating economic reconciliation.”
Here’s why it matters:
- More loan programs will be available for Indigenous entrepreneurs and leaders.
- FNBC can now meet the rising demand for commercial loans.
- It will expand new programs with BDC (Business Development Bank of Canada) and CIB (Canada Infrastructure Bank).
How Will the $9 Million Be Used?
FNBC will use this money to support Indigenous borrowers, especially those who want to build or buy businesses and land.
Key Areas Where Money Will Go:
| Program | Partner | Purpose |
|---|---|---|
| CIB Indigenous Land Development Loan | Canada Infrastructure Bank | Fund land and infrastructure development |
| FNBC-BDC Indigenous Business Acquisition Loan | Business Development Bank of Canada | Help Indigenous people buy existing businesses |
This is part of a much bigger plan. FNBC wants to raise up to $50 million in equity capital by the end of 2026. This will allow them to serve more Indigenous people and expand across Canada.
Growth Under New Leadership
Since becoming President and CEO in 2023, Bill Lomax has helped FNBC grow fast:
- In 2024, FNBC signed a $100 million loan agreement with CIB.
- In 2025, another $100 million program was launched with BDC.
- These programs help Indigenous communities get business ownership and build infrastructure.
With the new $9 million, FNBC is better equipped than ever to be the “lender of choice” for Indigenous communities.
Why Indigenous Banking is Important
Indigenous-owned banks give communities the power to:
- Own their future
- Make decisions based on local values
- Support economic self-reliance
- Build lasting financial systems
This is not just about money — it’s about reclaiming economic independence and building a stronger Canada together.
The $9 million investment in the First Nations Bank of Canada is more than just a financial move — it’s a strong step toward Indigenous economic power and self-reliance.
With partners like BDC and CIB, FNBC is working hard to ensure that Indigenous communities have access to the money they need to grow, build, and lead. The bank’s mission to support Indigenous-led business and infrastructure is now stronger than ever, showing that when Indigenous people invest in each other, great things happen.
FAQs
What is the goal of the $9 million investment?
The goal is to support Indigenous communities by offering more loans, helping them grow their businesses, buy land, or start new projects.
Who are the main investors in this deal?
The five investors are Indigenous-led organizations from Alberta, British Columbia, Yukon, and Saskatchewan. Some are existing FNBC shareholders.
What is FNBC’s long-term plan?
FNBC aims to raise $50 million over the next year to further expand lending programs, increase their reach, and boost economic development across Canada.