Native American Bank supports REDCO and the Rosebud Sioux Tribe
Native American Bank July 2015
REDCO is a chartered non-profit corporation owned by the Rosebud Sioux Tribe and managed by an independent Board of Directors for the purpose of generating revenue and promoting economic development for the tribe. REDCO asked Native American Bank for support in refinancing REDCO's $800,000 debt and taking on $1.5 million of the Rosebud Sioux Tribe's debt for a total loan of $2.3 million dollars. After the loan closing, Wizipan Garriott, Executive Director of REDCO stated, "It's an awesome feeling to know that over the past three years we've taken REDCO from losing money to profitability and have gained the financial strength to help the Rosebud Sioux Tribe by taking on a big portion of the Tribe's debt. This will free up about $410,000 annually for the Tribe. Thank you to Native American Bank for working with us to make this happen."