Many Indigenous communities in Canada are experiencing an economic renaissance. Buoyed by land claim settlements and resource contracts, they are investing in businesses and infrastructure projects that are transforming the lives of their people. It’s a remarkable growth story, and BMO is right at the heart of it.
Established in 1992, the BMO Indigenous Banking Group is the leading provider of financial services to Indigenous communities in Canada. We work with more than 250 communities across the country, supporting self-sufficiency, economic development and prosperity. We’re also a leader in Indigenous relations – five times, The Canadian Council for Indigenous Business has recognized BMO with a gold-level Progressive Indigenous Relations (PAR) award.
The foundation of BMO’s success in this area is trust, says Stephen Fay, Head, Indigenous Banking. “These are communities with unique banking needs,” says Fay. “The terms of the Indian Act mean reserve land can’t be used to secure a loan. BMO has earned the trust of Indigenous communities by meeting with them face-to-face, taking the time to understand their needs, and creating banking solutions that work for them.”
Fay adds, “We’ve always felt a higher sense of purpose here. We’re helping Indigenous communities manage their finances, build new housing, create infrastructure for clean water, and establish thriving businesses. This isn’t just about making money—when we’re successful, it translates into success for communities in need.”
Read more about Indigenous banking at BMO here.
Read more about financial products, services, employment and scholarships for Indigenous communities here.