AMERIND Risk Chairman of the Board Greg Borene presenting check at the 2018 AMERIND annual convention business meeting.
Published August 3, 2018
SANTA ANA PUEBLO, N.M. — AMERIND Risk has invested $3 million in First Nations Oweesta Corporation’s $10 million Native Community Development Financial Institutions (CDFI) Capital Pool. Funding support from AMERIND Risk and other investors allows Oweesta to leverage larger amounts of lending capital for Native CDFIs.
Chrystel Cornelius (Ojibwe; Oneida), Oweesta’s executive director
AMERIND was one of the first investors in Oweesta’s $10 million Native CDFI Capital Pool, and we are extremely grateful. That initial investment helped to spur other initial investments and raise additional capital, because AMERIND is very well-known and respected in and out of Indian Country,” said Chrystel Cornelius (Ojibwe; Oneida), Oweesta’s executive director.
“AMERIND and Bank of America both came in as the highest investors at $3 million each. I think it’s really important that AMERIND, a Native-owned and operated entity, invested in Native communities nationwide,” Cornelius added.
First Nations Oweesta Corporation was created 18 years ago to address the lack of capital and financial infrastructure holding back economic development in Native communities. The nation’s first and only certified Native CDFI intermediary, Oweesta has helped to transform opportunity across traditionally undercapitalized reservation communities.
“Our investment helps Native CDFIs expand housing, jobs and grow Tribal on-reservation economies,” said AMERIND Risk CEO Derek Valdo (Acoma Pueblo), who was recently named to Oweesta’s Board of Directors.
AMERIND Risk CEO Derek Valdo (Acoma Pueblo)
“We hope our $3 million investment will recirculate in Indian Country, and continue to grow on-reservation access to capital,” Valdo said.