Economy
The tribe has founded the Turtle Mountain Community College, one of numerous tribally controlled colleges in the United States.
The tribe has established online short-term or "payday lending" as a business to serve under-banked Native Americans. Merle St. Clair, the chairman of the tribe, is also a board member of the Native American Lending Alliance, an association of tribes in the payday loans business. Others include the Chippewa Cree, Miami Tribe of Oklahoma, and the Santee Sioux Nation of South Dakota.
Delvin Cree, a writer with The Tribal Independent, classified their high rates charged as predatory lending in an Opinion piece published on Indianz.com in February 2012. A New York Times article said the tribe charged an annualized rate of 360% on some of its short-term loans.
Read more about this topic: Turtle Mountain Band Of Chippewa Indians
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)