FNFA Borrowing Members are the First Nations governments that are authorized to borrow through the FNFA. Any First Nations government in Canada, including those operating under Self-Government Agreements or Treaties, can become Borrowing Members of the FNFA. Borrowing Members must be scheduled under the FNFMA, must work with the First Nations Financial Management Board (FNFMB) to complete the standards set out under legislation or regulation, and must send a membership application to the FNFA Board of Directors.
Those First Nations operating under Self-Government or Treaties must work with Canada the FNFA and the applicable provincial government to develop a Regulation that creates a legal bridge between the First Nations Fiscal Management Act and the Self-Government agreement or Treaty.
The advantage to First Nations of working with FNFMB, to complete their standards is that every FNFA Borrowing Member is then treated equally: same interest rates on loans, no collateral, ability to repay loans over 30 years, etc.
Note: investment and advisory services are offered to all First Nation governments and their organizations, whether or not they are FNFA members or scheduled to the FNFMA.
For information on the steps to become a Borrowing Member, please refer to the documents below: