Tribal Economic Report

Indian country’s once-in-a-seven generation opportunity  Building economic resiliency that sticks

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For centuries, tribal communities and individual Native Americans and their families have bobbed and weaved when confronted with some of the harshest conditions and treatment imaginable. While Covid-19 highlighted some of the harshest realities of the disparate treatment of Indian Country, it also surfaced a rare, once-in-a-seven generations opportunity to reimagine how Indian Country can position itself – not just for the immediate future, but for decades and centuries to come.

Wells Fargo and the Boston Consulting Group have collaborated to redress economic imbalance within tribal communities by highlighting the wealth of economic opportunities for investment and value creation that achieving resiliency will bring. Download the report to learn more.

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Challenges and opportunities

Indian Country faces multiple challenges at a critical inflection point

1. According to 2010 Census data 2. Coronavirus Aid, Relief, and Economic Security Act 3. American Rescue Plan Act
Source: National Congress of Indian Americans, “Broken Promises” U.S. Commission for Civil Rights Briefing Report December 2018

Copyright © 2021 by Boston Consulting Group. All rights reserved.

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Indian Country is a multi-faceted land … … that has faced significant challenges in recent years … … with opportunity to become more resilient in the future

574

Federally recognized tribal nations and Alaskan Native villages

5.5 yrs

Lower life expectancy for Native Americans vs. national average

$10Bn

At least $10.5Bn directed to Indian Country for pandemic relief through the CARES Act2

326

Reservations

81%

Of tribal areas have a broadband subscription, vs. 86% national average

$32Bn

At least $32.5Bn directed to Indian Country fiscal recovery efforts through ARPA3

2.6%

Of US population identifies as AI/AN alone or in combination with another race1

12.2 miles

Average distance from tribal reservation center to nearest bank, vs. 4-mile national average

$50M

Committed by Wells Fargo in 2018 for non-profits in AI/AN/Hawaiian communities

1. According to 2010 Census data 2. Coronavirus Aid, Relief, and Economic Security Act 3. American Rescue Plan Act
Source: National Congress of Indian Americans, “Broken Promises” U.S. Commission for Civil Rights Briefing Report December 2018

Copyright © 2021 by Boston Consulting Group. All rights reserved.

Supporting native businesses

For more than 60 years, Wells Fargo has been a proud supporter of Native American and Alaska Native communities, and we continue to be the leading provider of capital and financial services to tribes and tribal-owned enterprises.

Wells Fargo has banking relationships with 4 out of 10 federally recognized tribes in the U.S. We have committed $3 billion in credit and hold $3.9 billion in deposits for tribal governments and tribally owned enterprises nationally, banking more than 400 Native American and Alaska Native tribal entities in 25 states. No matter the size of your business, our bankers have extensive experience working with tribal governments, tribal-owned enterprises and native-led non-profit organizations to help you meet your goals.  

Learn more about how Wells Fargo serves Native communities.

Commercial Banking 

Wells Fargo Commercial Banking provides market-leading solutions, industry expertise, and insights to help enable our clients' growth and success, enhancing the communities we serve.