DreamKeeper (Canada/US-2003; TV; dir. Steve Barron)
This film is based on Native American mythological tales, recounted to a culturally recalcitrant youngster by his traditionalist grandfather. It is a Hallmark TV movie and was the winner of an Emmy for Visual SFX and Best Film at the American Indian Film Festival, as well as being nominated for a Saturn Award.
You can see how effective the SFX are from this excellent sequence featuring a mythological warrior fighting the lake serpent Uncegila — videoed from a TV broadcast by the look of it, with Croatian subtitles and an added musical soundtrack: