Maori bank planned

Press, 11 April 1984, Page 4

Maori bank planned

PA Napier Hawke’s Bay Maoris plan to set up a bank within six months to foster business and Maori culture. The bank, which will work along the lines of a credit union, will channel investment funds into the Maori communities that belong to it. A liaison officer for the group promoting the concept, Mr Mana Cracknell, said the establishment of a financial structure would signal a new start for the

development of Maori interests. The structure would not be connected with proposals for Maori International, but its aim would be to provide a measure of self-suffi-ciency for developing Maori enterprises, he said. He hoped the scheme would be working within six months. An elected trust of five people would oversee the work of the Maori bank, he said. The scheme will cater

specifically for the needs of the Maori community. Mr Cracknell said Europeans who shared the ideals and philosophy of the Maori people would also be invited to be involved. The professionally run bank would encourage business enterprise but would also foster cultural development. Mr Cracknell said that until now the development of Maori cultural enterprises had been based on housie evenings and raffles.