First Nations Bank gets $15M investment from Mississaugas of the Credit First Nation

TORONTO — First Nations Bank of Canada has unveiled a $15-million investment from the Mississaugas of the Credit First Nation. This substantial contribution will elevate the Nation to one of the bank's leading shareholders, granting them an approximate 10% stake. The Indigenous-owned chartered bank, the sole institution of its kind in Canada, asserts that the investment signifies the culmination of a $50-million capital raise.

The lender offers a range of financial services, encompassing commercial and personal banking, loans, mortgages, and investments for both Indigenous and non-Indigenous clients. Speaking at the Canadian Club in Toronto on Wednesday, First Nations Bank of Canada's President and CEO, Bill Lomax, announced the investment while highlighting its significance for the bank's lending capacity and potential to invest in Indigenous business, infrastructure, and economic development.

Lomax noted in a news release, "With the addition of Mississaugas of the Credit First Nation as a major shareholder, that founding vision is stronger than ever." "Today, we are constructing a flourishing national bank, backed by First Nations and Indigenous shareholders from across the country, and well-positioned to seize the significant opportunities ahead."

Following the investment, the bank will be controlled by 117 First Nations and Indigenous communities. Chief Margaret Sault of Mississaugas of the Credit First Nation expressed her support, stating, "By becoming a major shareholder in First Nations Bank of Canada, we are investing in an opportunity to build long-term wealth for our community with a partner who understands our needs and aspirations."

"Meaningful participation in the Canadian economy includes having ownership in the institutions that help drive and shape its future." First Nations Bank of Canada operates 22 branches and service centers while managing over $1.6 billion in assets. Its trust subsidiary, FNB Trust, oversees $5.57 billion in assets under administration.

This report by The Canadian Press was initially published on November 4, 2026. The article was prepared by Daniel Johnson of The Canadian Press.