Four Directions Development Corporation

BankingMaine, United States11-50 Employees

Four Directions Development Corporation (FDDC) is a nonprofit community development financial institution (CDFI) whose mission is to improve the social and economic conditions of the Wabanaki tribes in Maine – the Maliseet, Micmac, Passamaquoddy, and Penobscot – through education and investment in affordable housing, tribal business ventures, and Native entrepreneurship.  Simply put, we use knowledge, capital, and collaboration to help tribal communities return to economic independence.

Native Americans throughout the U.S. face unique challenges when it comes to obtaining credit.  Because tribal lands cannot leave tribal control, conventional lenders cannot be secured with real estate and, therefore, have been historically reluctant to make loans to tribal members living on reservations.  For reservation residents, mortgages are hard to find; this has hindered their ability develop assets. It means the equity in their homes, the wealth-building engine of the American middle class, is not available to use for higher education, business borrowing, home improvement, or the myriad other uses available to the general public. It also means they are more vulnerable to predatory lenders to meet their credit needs.  

FDDC was conceived of and developed to address this fundamental credit gap. We make home loans to tribal members to buy, improve or repair a home. Since 2002, we have closed over $11 million in mortgages, home improvement and energy efficiency loans to 220 tribal families. 

In tandem with lending, we deliver credit and budget counseling, financial literacy training, and homeownership education. These services have helped more than 800 tribal members to purchase homes, repair their credit, and better manage their household budgets. Through a volunteer income tax assistance program (VITA), FDDC has helped 430 Wabanaki filers access precious Earned Income Tax Credit refunds and avoid steep paid tax preparer fees.

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