tive bank opens

Bob Mackin
News Reporter

FROM his office in
Park Royal South’s
TD Bank, Michael
Tees covers a lot of
territor

Two territories and mwo
es, to be exact.

regional sales man-

for First Nations Bank
anada, a katoon-

ed, abo: alan finan-
institution allied with

TD Bank.

The branch at Park Reyal,
whieh sits on find owned by
the Squamish Nation, is the
first in British Columbia. It
opened on July 2, ‘Tees will
be ov ng gradual expan-
sion  elsewhe in B.C,
Alberta, the Yukon Territory
and Northwest Territories in
the months to come.

“We can serve accounts at
a distance, that’s no problem
for us,” said Tees, a member
of the Dokis Nation near
North Bay, Ont. “Most First
Nations are in remote areas.
We are also looking at setting
up agency banks — basically
a sma{l counterspace bank,
almost going back to the
style of banking 100 ycars
ago where you hired an indi-

Habitat

From page *

7.62 acres of land sold to
BPP was approved in late
June.

About half the Whitby
Estate lands are in a creck
zone and many did not mect
West Vancouver bylaw stan-
dards prior to rezoning.

Many of the original lot
boundaries drawn up in 1909
bore no celatienship to the
site geography and were not
suitable tor development
until they were redesigned.

In exchange for selling the
7.62 acres to BPP the munic-
ipality gets 40 acres of park-
land surrounding McDonald
and Marr crecks.

Because of concerns raised
by reside
tailed frog species living in
the Marr creck areas, BPP
began a five-year environ-
mental study last year tha:
will run through 2003 under
the direction of the Ministry
of Environment, Lands and
Parks. The study will monitor
the impact of devclopment
on the creck habitat.

According to bylaws
passed Monday night, any
area within a creek preserva-
tion area or park that is dam-
aged in the development
process must be restored and
rehabilitated back to its nat-
ural state.

Coun. Victor Durman
said BPP’s vice-president of

Park Royal
branch is
B.C.’s first

vidual te act as the bank's
representative (in a small
town).”

Tees said) First) Nations
Rank isnt cager to expand
rapidly because more cus-
tomers are opting ta manage
their money via the Internet.

But the basic ser
offered by Nations
Bank are no different: from
other full-service personal or
commercial institution:

“The only di
tend to specialize in’ First
Nations’ community finance.
We've got a dot of internal
strengths, so we're able to

finance projects a lot of

banks might turn their nose
up at just because of our his-
tory with those communi
ties.”

First. Nations Sank can’t
offer traditional mortgages
direetly to natives living on
reserves because of property
restrictions in the federal
Indian Act. Until that’s
amended or abolished, oy

said such hoasing loans are
allowed if the band council is
involved in the transaction.

The bank traces its roots
back ta 198 when the
Federation of Saskatchewan
fadians (ESENG established
the 8 4 Indrain
Equity auen (SERF).
The alliance with TD Bank
was forged ED years hater snd
the bank was established on
Nov. 16, 1996. The first
branch and head office in
Saskatoon opened Sept
1997. Branches have fal-
fowed in’ Ontario and
Quebec. Park Royal is the
four

IEF and FSIN own SI
million worth of common
shares. SEEF has a further $1
million of class A, non-vot-
ing preterred shares. TD
holds $8 million in clas
voting preferre
said First Nations Bank is
years into a 10-year opera

name, First

ly for aboriginals. All are wel-
conic, Te id.

“We're quite cager to do
business with everybody and
anybody,” he said: “We are
marketing to native and non-
Native groups on an equal
basis.”

impact studied

development Walter
Thorneloe was persuaded to
allow for wee removal only
near a lot's driveway access
after original plans called for
clear-cutting on the develop-
ment.

Now any other trees
removed by Whitby Estates
owners must be replaced with
10 three- metre trees.

The development ifi-
cally restricts any building,
structure, driveway, swim-
ming pool, tennis court or
any other structure above the
1,200-foot clevation level.

But Durman_ expressed

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concern that certain. steeper
hillside areas of West
Vancouver below the 1,200-
foot level contribute to envi-

ronmental degradation if

developed.

A ceaffic fight and boule-
vard landscaping will be
installed at the highway and
21st Street intersection to
control increased traffic com-
ing off the Upper Levels
Highway.

An independent: appraisal
at the end of 1997 valued the
lots at between $450,000
and $750,000 and up for
larger view lots.

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Friday, July 9, 1999 —- North Shore News —

MICHAEL Tees
opened First Nations
Bank of Canada’s
first B.C. branch fast
week in Park Royal
South's TD Bank.

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