The goal of the partnership will be to streamline tribal benefits access while delivering financial products and education that are culturally relevant.
Glenna J. Wallace, Eastern Shawnee Chief, said: “Working with Totem provides a great opportunity for us to provide financial products to our people while simultaneously growing economic opportunities in areas that we already lead in — namely, financial services and innovation.”
The Eastern Shawnee Tribe is Totem’s first announced partner. The tribe revealed it is creating a gaming business in the metaverse offering a range of virtual items. The tribe is the majority owner of the People's Bank of Seneca, a $364m financial institution situated in Seneca, Missouri.
Totem plans to launch a credit-builder product later this year.
The app provides information on national and tribe-specific benefit programs allowing users to enable financial support and engages in revenue-sharing with its partner tribes.
Amber Buker, Totem Founder and CEO, said: “We couldn’t be happier to be working with the Eastern Shawnee Tribe of Oklahoma to launch Totem. We’re working to create a new tradition of Native wealth-building that will help all our people thrive for generations to come.”
