The Anchorage Daily News is running a series on rural economies and is putting some focus on Alaska Natives.
Today's story highlights the lack of banking services in rural Native villages. Even though residents are far from cash poor -- the median income in the Inupiat village of Noorvik is $51,964 -- they essentially use a trading post as their bank.
That's good news for the Morris Trading Post, which is 100% Native owned. But the lack of banking services means only a fraction of the billions of dollars in wealth being generated in Alaska enters the village.
The series runs through Thursday.
Get the Story:
Currency bypasses businesses in the Bush
(The Anchorage Daily News 5/5)
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