MMCDC Revenue and Competitors

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 a parent company of a housing cooperative, a property management company, a reservation-based bank and a reservation-focused community development company. 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. MMCDC is approximately the 25th largest CDC in the United States and is one of the very few with a bank subsidiary. 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 which includes the largest reservation in Minnesota - the White Earth Indian Reservation. Today, MMCDC lends and invests statewide.