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All the news that are relevant for our small community
Oweesta Corporation
2432 Main Street, 1st Floor
Longmont, CO 80501
303.774.8838
info@oweesta.org
Oweesta is an equal opportunity employer and provider. We do not discriminate, learn more here: Title VI, Section 504.
Oweesta is the longest standing Native CDFI intermediary offering financial products and development services exclusively to Native CDFIs and Native communities. Specifically, Oweesta provides training, technical assistance, investments, research, and policy advocacy to help Native communities develop an integrated range of asset-building products and services, including financial education and financial products.
Asset-building tools stimulate reservation economies by providing tribal members the opportunity to acquire financial management skills and build and accumulate assets through small business creation, homeownership, education, and much more.
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Justice Climate Fund Selected by U.S. Environmental Protection Agency for Clean Communities Investment Accelerator Program
Justice Climate Fund Will Empower Its Network of Community Lenders to Successfully Deploy Affordable, Responsible Green Lending
(Washington, DC/April 4, 2024) — Today, the Justice Climate Fund (JCF) announced it has been selected by the U.S. Environmental Protection Agency (EPA) to begin award negotiations for the Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) program. JCF has been selected to receive approximately $1 billion in funding.
JCF is a nonprofit financial institution created to scale the nationwide deployment of affordable, equitable clean energy improvements for disadvantaged American families, businesses and communities. JCF achieves its mission by enabling and deploying capital through America’s Main Street financial institutions — the very community lenders that have delivered, for decades, financial opportunity, security and prosperity to struggling Americans. JCF’s network of community lenders pioneered community-based lending. With GGRF funds, these dedicated lenders can expand their successful histories of driving positive value and change by tackling climate change. By focusing on communities, JCF will enable American families, communities and businesses to save money and deliver a greener, cleaner, safer and more inclusive future for us all.
This transformation is within reach. Today, JCF’s network of community lenders serves 281 million Americans — or almost 86% of this nation — and includes more than 1,000 CDFIs across every state in the nation and multiple territories. Through the CCIA program, JCF will equip community lenders with new skills, tools and relationships to successfully deploy affordable, responsible green lending in communities across the country, especially those that are low income and disadvantaged.
“Our community lenders are the boots on the ground serving hard-working American families and communities too often excluded from the innovation economy that defines our country. We advance green lending, capacity and capital in low-income and disadvantaged communities, allowing the most impacted to lead change for all of us,” said Douglass Sims, JCF interim Chief Executive Officer. “JCF thanks the Biden Administration and the EPA for recognizing JCF’s transformational role in advancing the Greenhouse Gas Reduction Fund’s mission. We are honored to have been selected for the Clean Communities Investment Accelerator program, and we believe that this is just the start.”
“President Biden and Vice President Harris have put communities at the center of their Investing in America agenda. Today, we’re putting an unprecedented $20 billion to work in communities that for too long have been shut out of resources to lower costs and benefit from clean technology solutions,” said EPA Administrator Michael S. Regan. “The selectees announced today will deliver transformational investments for American communities, businesses, and families and unleash tens of thousands of clean technology projects like putting solar on small businesses, electrifying affordable housing, providing EV loans for young families, and countless others. That translates to good-paying jobs, energy bill savings, and cleaner air, all while delivering on President Biden’s historic agenda to combat climate change.”
On August 16, 2022, President Joe Biden signed into law the Inflation Reduction Act, which authorized the EPA to implement the GGRF to mobilize financing and private capital to combat the climate crisis and revitalize communities, particularly those that have historically been left behind. CCIA is one of the three programs through which the GGRF will be implemented.
“We look forward to working with the EPA and mission-driven private investors to bring climate solutions, and their many benefits, to our nation’s families and communities,” continued Sims. “We appreciate the Biden Administration and the EPA validating JCF’s capacity and mission and providing this critical transformational seed capital. We have opened our doors to the country’s community lenders and the aligned investors that support them. Together, we can build an enduring, national institution.”
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The Justice Climate Fund s a purpose-built nonprofit financial institution that is building the field and deploying capital through CDFIs, credit unions, MDIs and green banks, and specialty finance firms as to enable families, communities and businesses to save money while investing in a greener and safer future. JCF is founded by the Community Builders of Color Coalition. It is steered by a Board that includes the African American Alliance of CDFI CEOs, the National Association for Latino Community Asset Builders, Inclusiv, National Bankers Association, Oweesta Corporation, Opportunity Finance Network, Partners for the Common Good and Community Development Bankers Association, ImpactAssets, the Housing Partnership Network, and Connecticut Green Bank. They have come together to ensure that all communities equitably benefit from the GGRF. See www.justiceclimatefund.org.
Press Contact
press@justiceclimatefund.org
Oweesta Supports Native Solar Energy Initiatives with Submission of Application to EPA’s Solar for All Program
The Rolling Rez: Giving “Mobile Banking” a New Meaning
Every two weeks, on Tribal Pay Days, when the Tribe (the largest employer on the Pine Ridge Reservation) disperses paychecks, a brightly painted bus pulls up. The Rolling Rez is a bank on wheels that travels the fifty miles from Kyle to Pine Ridge, South Dakota, and services Tribal employees with their banking needs. People have access to cash, deposit their paychecks, sign loan documents, open accounts – virtually everything a local branch does.
The Rolling Rez bus is a joint initiative started in 2012 by Lakota Federal Credit Union, Lakota Funds, First Peoples Fund, and Artspace that brings banking to people. The Pine Ridge Reservation, a sprawling community 70 miles wide, covering more than 2.8 million acres of land, is home to more than 28,000 people. “We like to say the rez is about twice the size of the state of Delaware,” said Shayna Ferguson, CEO and President of Lakota Federal Credit Union (LFCU). Unlike Delaware, which has 36 banks with over 200 branches scattered throughout the state, Lakota Federal Credit Union is the first and only federally-insured banking institution on the reservation.
Pine Ridge Reservation is also one of the poorest communities in the nation. “More than half the population lives below the poverty line; how can people afford gas to get to a credit union?” said Tawney Brunsch, Executive Director at Lakota Funds. The challenges they saw inspired Brunsch and Ferguson to get creative with their servicing. The Rolling Rez is essential for reaching people in distant areas, especially on paydays. “It’s important to catch people when they have that check in hand, and hopefully it’s deposited or saved or used to repay a loan,” added Brunsch. The strength of the credit union’s membership is a testament to how invaluable accessible banking is. “When we first chartered the credit union, we projected we would have 1000 members in two years. We blew that number out of the water within six months,” shared Ferguson. “Today, we have 3,500 members; it shows how much of a need LFCU is.”
Lakota Federal Credit Union started after the Lakota Funds team saw the need to provide Tribal members with essential banking services, like a checking and savings account. Established in 1986, Lakota Funds is a Community Development Financial Institution (CDFI) offering business loans paired with technical assistance and financial education classes. They are also the first native CDFI dedicated to promoting economic sustainability on the Pine Ridge Reservation. They recognized a credit union would be an asset to Tribal members and agreed to sponsor the credit union in 2009.
“We wanted to give community members access to wealth-building education and access to the products – mortgage loans, checking and savings accounts, consumer loans – that build wealth,” shared Brunsch. Two and a half years after the chartering process began, the doors to the first federally insured depository institution on the reservation were opened.
Like many services, the Rolling Rez was a victim of covid-19 when the generator broke down, and replacement parts couldn’t be sourced for about two months, leaving the bus temporarily out of service. “This made us realize how dependent Pine Ridge is on the mobile banking services,” shared Brunsch. “We ordered a second bus to double up on access and services.” The second bus will amplify LFCU’s efforts. While the first bus is shared with Artspace, the second bus will be wholly owned and operated by LFCU. This will allow them to drive the bus five days a week and expand to the Rosebud Reservation, a neighboring reservation of over 11,000 people who don’t have a bank or credit union yet.
(This story was originally featured in Forbes, through the Partners for Rural Transformation EQ Brand Voice partnership.)
Oweesta Presents Our New Branding
Over the past 20 years, Oweesta’s purpose and programming has been adapting to address the ever-evolving needs of Indian Country. Last year, we made perhaps the most significant step for our future when we spun off from our parent organization. We figured this momentous step required us to adopt a new visual identity that would carry us into the future.
The rebranding process was lengthy, time-consuming and very thoughtful as we envisioned Oweesta in the decades to come. Oweesta is inherently Native – established in response to Native needs, founded by Native leaders, and deeply-rooted in Native economies. When we were founded, we existed in a category of our own as an intermediary Native Community Development Financial Institution (CDFI). Our role has remained steadfast throughout the decades as we help build the financial capability and opportunity for Tribal nations and redirect the flows of capital from mainstream institutions into Native CDFIs. We wanted a visual representation that captured our essence as a Native organization as well as our role as a bridge builder and collaborator in the economic development industry.
We are thrilled to share this new look with you. At the heart of our visual identity is our logo. Buffalo have incredible individual strength, but they gather their primary power by acting as a collective. Buffalo are also held incredibly sacred to many Tribes as their existence ensured the strength and survival of people. We felt that buffalo are an adept representation of our organization and our Native CDFIs who ensure the continued prosperity for their respective tribal communities. We also incorporated seven arrows within our circular design representing the seven generations and the continuance of the circle of life.
We are excited to step into the next chapter with an identity that honors our spirit, values, and commitment to the Native CDFI movement. As we look to the future, we are invigorated to work with you all as we breathe life into our new tagline: “Redefining Equity. Reclaiming Native Sovereignty. Together.”
Rebuilding in Hawai’i
Oweesta Corporation Selected for the Community Navigator Initiative to Support Native Business Resiliency
Following a hub-and-spoke model, Oweesta and twenty-seven Native Community Development Financial Institutions (CDFIs) partners will provide training and technical assistance to Native businesses and entrepreneurs thanks to a $5M U.S. Small Business Administration grant.
Longmont, CO – Oweesta has been awarded one of eight Tier-1 national grants of $5 million as part of the U.S. Small Business Administration (SBA) Community Navigator Pilot Program aimed at reaching small businesses for stronger economic recovery efforts. Following a hub-and-spoke model, Oweesta is partnering with twenty-seven Native Community Development Financial Institutions (CDFIs) to serve Native businesses and entrepreneurs on reservations and urban environments across seventeen states.
Acting as a “hub,” Oweesta will serve as a centralized, lead organization and leverage our long-standing relationships with grassroots Native CDFIs as “spokes.” Oweesta will be partnering with the regional CDFI, MoFI, to provide training and peer-to-peer learning opportunities for Native CDFIs participating in the program. Through this model, government resources will be more effectively distributed to reach small business owners and entrepreneurs. Research shows that the amount of Native-owned business is scarce in today’s market due to structural barriers Native businesses and entrepreneurs face in business ownership and creation. Rooted within the communities, Native CDFIs are instrumental in reaching underserviced Native communities and providing culturally relevant, economic development services.
“The Biden-Harris Administration has prioritized building our small business ecosystems back better so that all of our entrepreneurs have a fair shot at achieving the American dream of business ownership,” said Administrator Guzman. “We need to meet businesses where they are with resources to start, grow and be resilient, and the Community Navigator Pilot Program will power a trusted network of community partners to connect America’s entrepreneurs with the SBA. The program’s Community Navigators will develop strong relationships with deeply trusted community-based organizations that will tap into one-on-one, targeted support from programs designed to help them create jobs and drive innovation.”
Through this grant, Oweesta and the twenty-seven Native CDFI spokes will provide additional business management training and technical assistance, including business planning, financial statement preparation, and marketing assistance. “Native CDFIs have long been the backbone of small business support in their communities. Oweesta is proud to partner with our Native CDFI partners, MoFI, and the Small Business Administration to increase access to technical assistance and training for Native entrepreneurs around the country,” said Chrystel Cornelius, CEO of the Oweesta Corporation.
Read the full SBA statement.
Use this interactive map to learn more about the Native CDFI Spokes.
Complete List of the 27 Native CDFI Spokes
Oweesta Presents our Campaign “When Money is Red”
In honor of Indigenous Peoples’ Day, Oweesta is launching a campaign called When Money is Red that will run on our social media platforms throughout the month of November for Native American Heritage Month.
When Money is Red is a campaign that envisions the possibilities of investing in Indian Country. We have witnessed firsthand in our role as a Native CDFI intermediary that when armed with the appropriate resources, Native peoples hold the capacity and ingenuity to ensure the sustainable, economic, spiritual and cultural well-being of their communities. The problem is Native people and issues continue to be invisible in the mainstream.
With this campaign, Oweesta will revisit the problematic history of wealth creation in this country, highlight the ongoing policy issues that keep Native people from fulfilling their economic destiny, and pose calls to action for policymakers, philanthropic institutions, and the general public alike to honor and celebrate our continued place in history and in this country.
We chose the name When Money is Red as a twist on the history of wealth creation across most of the developed world. Colonization brought on the genocide of First peoples and the destruction of culture and land, and modern-day policies and prejudices perpetuate those colonist practices. We will look to subvert the history of blood money in this country and build power towards economic justice for Indian Country.
This Native American Heritage Month, we want to make it clear: Indigenous people are not relics of the past; we are present, we persist, and we will recreate our futures. We can’t change the narrative alone. We invite you to join the movement:
In Solidarity,
Oweesta Corporation