Three Native Community Development Financial Institutions Recognized for Compelling Strategies to Finance Change in their Communities

South Dakota’s Akiptan, Alaska’s Haa Yakaawu, and Idaho’s Nimiipuu Fund are recipients of the 2022 Native CDFI Awards

WASHINGTON, Oct. 20, 2022 /PRNewswire/ — Rooted in Native tradition and historical past, Native neighborhood improvement monetary establishments (CDFIs) present entry to truthful, inexpensive funding in Indian Nation, the place mainstream finance doesn’t historically attain. Final night time, three Native CDFIs — Akiptan, Haa Yakaawu, and Nimiipuu Fund — had been honored by Alternative Finance Community (OFN), Oweesta Company, and Wells Fargo with the 2022 Native CDFI Awards.

“Native CDFIs open avenues for financial alternative via progressive monetary merchandise, superior capability constructing efforts, and deep relationships with their respective tribal communities,” mentioned Chrystel Cornelius, president and CEO of Oweesta Company. “It’s an honor to acknowledge these native CDFIs who’re reaching deep into their communities to finance change.”

Launched in 2019, the nationwide Native CDFI Awards acknowledge Native CDFIs for creating financial alternative and selling wealth constructing inside their tribal communities.

“Native-led CDFIs make Indian Nation stronger,” mentioned Dawson Her Many Horses, senior vice chairman and head of Native American Banking at Wells Fargo. “We’re proud to acknowledge Akiptan, Haa Yakaawu, and Nimiipuu Fund for his or her tireless efforts to cut back inequities by deploying monetary merchandise that assist housing, small enterprise, meals manufacturing, and extra.”

The Awardees

This 12 months, two Native CDFIs are acknowledged with Catalyst Awards, which assist compelling methods to assist tribal communities overcome limitations to financial improvement and entry to capital. The Catalyst Awards include a $150,000 grant.

Akiptan, Inc. is a licensed Native CDFI whose mission is to attach Native agricultural producers with capital and different assets they should succeed. Based mostly in Eagle Butte, South Dakota on the Cheyenne River Sioux Reservation, Akiptan will use the grant award to extend workers and develop new monetary literacy instruments for agricultural producers, in addition to design a youth-focused monetary literacy studying recreation.

“Receiving the Native CDFI Catalyst Award is extremely thrilling and humbling,” mentioned Akiptan Govt Director Skya Ducheneaux. “It is an acknowledgement that Akiptan’s onerous work is paying off, and we’re actually making a distinction in Indian Nation. The award presents a chance not solely to increase our attain to extra Native agricultural producers, but in addition to inform our story and share our successes with different Native CDFIs, in addition to the broader CDFI and monetary industries.”

Southeast Alaska-based Haa Yakaawu fosters self-sufficiency for tribal residents and organizations via homeownership. With the Catalyst Award, Haa Yakaawu will increase a house mortgage package deal tailor-made to satisfy the wants of Native households. In a area the place geography is usually a barrier, Haa Yakaawu will construct its mortgage mortgage pipeline by bringing in-person mortgage counseling and technical help to debtors in small Alaska villages.

“It is a unprecedented honor to be nationally acknowledged for our assist of Native Alaskan homeownership,” mentioned Jacqueline Pata, president and CEO of Tlingit Haida Regional Housing Authority, which companions with Haa Yakaawu and represents 12 of the area’s 19 tribal communities.

“CDFIs are at all times strained by our restricted funds for operations. The award presents an incredible alternative for us to increase our operations so we will attain extra tribal communities in a number of the most distant areas of Southeast Alaska,” Pata mentioned.

Nimiipuu Fund was acknowledged with a Seed Award, given to an rising Native CDFI with a technique exhibiting thrilling potential for achievement and affect. Nimiipuu Fund promotes financial development, whereas embracing the cultural values of the Nez Perce Reservation and surrounding communities. With the $75,000 grant, the CDFI will launch a house rehabilitation lending product to satisfy the necessity for high quality inexpensive housing.

“This award will enable us to increase our present suite of mortgage merchandise to handle what our neighborhood wants,” mentioned Jonelle Yearout, govt director of Nimiipuu Fund. “Our CDFI is working to enhance the housing inventory and high quality of life on the reservation.”

“Native CDFIs have deep data of their communities. With dedication and steadfast dedication, they search artistic and progressive methods to satisfy the capital wants of their individuals,” mentioned Beth Lipson, interim president and CEO of OFN. “This 12 months’s award recipients are main the way in which and creating actual change for Indian Nation, and I supply them my most honest congratulations.”

About OFN

Alternative Finance Community is a number one nationwide community of greater than 370 neighborhood improvement monetary establishments, specialised lenders that present accountable monetary services in low-income rural, city, and Native communities nationwide. As a trusted middleman between CDFIs and the private and non-private sectors, OFN works with its companions – banks, philanthropies, companies, authorities businesses and others – to create financial alternative for all by strengthening and investing in CDFIs.

SOURCE Alternative Finance Community