Business · Companies · 3 hrs ago
Mississaugas of the Credit invests $15 million in First Nations Bank
Mississaugas of the Credit First Nation invested $15 million in First Nations Bank of Canada as part of a $50-million funding round.
The bank is based in Saskatoon and is described as Canada’s only Indigenous-owned chartered bank.
The investment gives the First Nation roughly a 10 per cent stake and makes it one of the bank’s largest shareholders.
The funding will let the bank issue at least $400 million in new commercial loans, as it works through a backlog of loan applications.
The bank’s commercial lending has grown quickly, and it says demand is still strong.
The new capital may also help it explore wealth management, a business that could help clients keep control of their money.
The bank says it will consider its next steps over the coming year, and its chief executive said it may seek another round of funding within three years.
The Mississaugas of the Credit First Nation invested $15-million in First Nations Bank of Canada.
The investment is part of a $50-million equity financing round that the bank says will support its commercial lending.
The Mississaugas of the Credit First Nation now holds roughly a 10-per-cent ownership stake and is one of the bank’s largest shareholders.
The bank says the funding will allow it to issue at least $400-million in new commercial loans.
First Nations Bank is also considering wealth management and other possible new business lines.
- Who
- The Mississaugas of the Credit First Nation invested in First Nations Bank of Canada.
- What
- It invested $15-million as part of the bank’s $50-million equity financing round.
- When
- The bank announced the investment on Wednesday, November 4, 2026.
- Where
- First Nations Bank is based in Saskatoon. The investment’s location was not stated.
- Why
- The funding will support the bank’s commercial lending and may help it consider new business lines.
This story does not have two clearly opposing sides.
First Nations Bank was founded.
Bill Lomax became the bank’s chief executive.
The bank raised $50-million in equity financing from First Nations and Indigenous communities.
The bank received large investments from the Lheidli T’enneh First Nation and the Wabigoon Lake Ojibway Nation.
The bank announced the Mississaugas of the Credit First Nation’s $15-million investment.
- Investment
- $15-million from the Mississaugas of the Credit First Nation
- Total equity financing
- $50-million raised since 2024
- Ownership stake
- Roughly 10 per cent for the Mississaugas of the Credit First Nation
- New commercial loans
- At least $400-million enabled by the funding
- Community ownership
- More than 90 per cent owned by 117 First Nations and Indigenous communities across Canada
2 sources
What people are saying
Given the amount of growth that we have, I wouldn’t be surprised if, within the next three years, we are back out raising our next tranche
We are going to be, over the next year, doing some soul searching to figure out what is the right next step. And wealth management is absolutely very high on that list
There is just going to be more and more demand for what we are doing.