PHOENIX, AZ – Arizona Treasurer Kimberly Yee announced that the Chilchinbeto Chapter of the Navajo Nation has made a landmark decision with the Arizona Treasury to invest their local funds in the Local Government Investment Pool (LGIP). The historic partnership establishes the first-ever investment into the LGIP by a chapter within the Navajo Nation, the largest tribe in the United States, since the LGIP’s inception 44 years ago.
“This is a historic milestone for the Arizona Treasury and the Chilchinbeto Chapter of the Navajo Nation, as we establish this new partnership with Arizona’s Local Government Investment Pool, and the first-ever Navajo financial investment contract with the State of Arizona,” said Treasurer Yee. “From the start of my administration, my goal has been to reach every corner of our great state to work with local leaders and expand the local government investment pool of participants, as local governments benefit from an increase in assets. When you grow the pool, you grow the funds.”
“We welcome this new partnership with the Arizona State Treasurer’s Office and trust that our funds will be prudently invested,” said Eugene Bedonie, Chilchinbeto Chapter Manager. “We look forward to increasing our local dollars to support the people within our community and support our greater economy.”
“This creates more funds for communities across Arizona based on investments alone and allows local taxpayers to avoid higher taxes to meet government funding obligations,” said Treasurer Yee. “I am confident this will be the beginning of a long-lasting partnership with the Navajo Nation and its local chapters.”
Treasurer Yee has increased LGIP investments by over $3.6 billion since taking office, reaching record-high assets under management of over $7 billion. When more local governments invest in the LGIP, each participant receives a greater return on their investments. In fiscal year 2024, Treasurer Yee distributed over $335.9 million to LGIP participants across the state, allowing record-earnings to be distributed to local governments for the benefit of their communities.
“This investment is a bold step toward true financial independence and long-term prosperity for the community,” said Navajo Nation Council Delegate Shaandiin Parrish. “It sets a powerful example for other chapters within the Navajo Nation, demonstrating the strength of local governance and smart economic strategies. By investing wisely, the Chilchinbeto Chapter is actively shaping its own future.”
