An effort is underway to create the first credit union serving tribal members in Maine.

Craig Sanborn, director of the Penobscot Nation's housing authority, said the goal is to keep money within Indian hands. He said tribal members spend their money off the reservation.

The defeat of a tribal casino initiative last year spurred the idea along. Maine's four tribes lack true economic development options, said Sanborn.

Maine's federally recognized tribes are the Penobscot, the Passamaquoddy, the Aroostook Band of Micmacs and the Houlton Band of Maliseets.

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Tribes mull credit union (The Bangor Daily News 8/3)