Published August 17, 2015
MINNEAPOLIS—The Federal Reserve Bank of Minneapolis today officially launched the Center for Indian Country Development (CICD). The CICD’s mission is to help self-governing communities of American Indians in the United States attain their economic development goals. It will build off the Minneapolis Fed’s 25-year history of working in Indian Country, which is rooted in the Federal Reserve System’s legislative responsibilities to understand and promote economic growth. The Center will focus on initiatives such as legal infrastructure development, improved access to capital for Native Americans, entrepreneurship and small business development, effective coordination and design of economic development programs, and related education and research.
The CICD also formally announced the establishment of the CICD Leadership Council, composed of regional and national experts in Indian Country development issues. The Leadership Council will offer diverse perspectives on the economic and financial circumstances in American Indian communities and will advise and assist with the CICD’s strategy and priorities.
“For more than two decades, the Minneapolis Fed has committed significant resources to supporting economic development in Indian Country,” said Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis. “The center provides energy and coordination to Indian Country development initiatives across the Federal Reserve System and takes a lead role in forging Federal Reserve partnerships with other national and regional organizations,” he added.
“By establishing the Center for Indian Country Development, we are committing to deepening and broadening this work, as well as expanding our national presence and partnerships, to better support tribal nations and organizations working with them in their development efforts,” said Susan Woodrow, co-director of the CICD.
“The Federal Reserve System’s partnerships and collaborations with key stakeholders across the country have become critical resources to Indian Country economic development. We are excited about the opportunity to expand the Fed’s work with tribal leaders, government agencies, financial institutions and community organizations to improve education, business development and economic mobility throughout Indian Country,” said Patrice Kunesh, co-director of the CICD.
Leadership Council members:
- Dante Desiderio, executive director, Native American Finance Officers Association
- Sarah DeWees, senior director, Research, Policy and Asset- Building Programs, First Nations Development Institute
- Miriam Jorgensen, director of research, Native Nations Institute for Leadership, Management and Policy, University of Arizona, and Harvard Project on American Indian Economic Development, Harvard University
- Elsie Meeks, board of directors, Federal Home Loan Bank of Des Moines; chairperson, Lakota Funds
- Jacqueline Johnson Pata, executive director, National Congress of American Indians
- John Phillips, executive director, First Americans Land-Grant Consortium; land grant program director, American Indian Higher Education Consortium
- Jaime Pinkham, vice president, Native Nations Programs, Bush Foundation
- Gerald Sherman, vice president, Bar K Management
- Cris Stainbrook, president, Indian Land Tenure Foundation
- Sarah Vogel, Sarah Vogel Law
The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation’s central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations and provides a variety of payments services to financial institutions and the U.S. government.