Indian Tribe Eyes CU Option

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NIAGARA FALLS, N.Y. - (08/30/04) -- Officials with the Seneca tribe ofAmerican Indians said the tribe is exploring chartering its owncredit union or bank to help it invest the proceeds from itsbusiness, including gambling casinos. The proposed financialinstitution would help the Senecas develop their fledgling mortgageprogram, created this spring with $10 million from the Seneca's twocasinos in Niagara Falls and Salamanca. The tribe has beenexploring the banking option for more than two years.

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