MMCDC is a leading private nonprofit company providing commercial and home mortgage lending, as well as housing, business and community development services throughout Minnesota and the Midwest. We are also the parent company of a reservation-based bank and a reservation-focused community development company. In addition, we are the founding member of a housing construction cooperative.
In 1968, a bill was introduced to create Community Development Corporations (CDCs). CDCs were authorized to borrow funds from the federal government (as well as private sources) and re-lend the money to businesses to create jobs in rural America. Today, there are about 2,000 CDCs in the country.
Our organization was started through the cooperative efforts of Mahube Community Action Program of Detroit Lakes, MN and the Inter-County Community Council of Oklee, MN. In 1971, we began by serving the counties of Mahnomen, Hubbard, Becker, Red Lake, Pennington, Clearwater and Polk, an area that includes the largest reservation in Minnesota – the White Earth Indian Reservation. Today, MMCDC lends and invests statewide and beyond.
MMCDC’s overall mission is to help Minnesota businesses and communities succeed. We aim to improve and empower communities by providing capital, training and technical assistance through the development of housing, commercial and community facilities.