[CircleUp] Two Native Community Development Financial Institutions Honored for Achievements in Helping Build Native Economies

Thu Oct 29 09:50:18 EDT 2009

PRESS RELEASE

Contacts:

Heidi Davis (Oweesta), 605-342-3770

Heidi at oweesta.org <mailto:Heidi at oweesta.org> 

J CoCo Chang (for OFN), 212-245-0510 

jcoco at pro-mediacommunications.com
<mailto:jcoco at pro-mediacommunications.com> 

FOR IMMEDIATE RELEASE

October 28, 2009

Two Native Community Development Financial Institutions Honored for
Achievements in Helping Build Native Economies

Charlotte, N.C. // Two Native community development financial
institutions (CDFIs) were honored yesterday for their commitment to
community development and asset building in Native communities at the
2009 Native Awards Ceremony, part of the  6th Annual Native CDFI
Convening hosted by Opportunity Finance Network (OFN) and First Nations
Oweesta Corporation (Oweesta).  

The Circle of Honor Award recognizes a Native CDFI that strives to
increase capital and access to financial resources in Native communities
by developing innovative loan products, technical assistance services,
and overcoming challenges. This year's winner of the Circle of Honor
Award was Cook Inlet Lending Center (CILC), a housing CDFI located in
Anchorage, Alaska. CILC's mission is to promote community and economic
development throughout south central Alaska by the provision of lending
services and products; and increased access to credit markets,
particularly for low and moderate income families, individuals, and
minorities.  Its primary services include second mortgages, down payment
assistance and financial counseling.  CILC serves all residents of the
Cook Inlet Region, but 80% of their clients are Alaska Natives or Native
Americans. 

Selected from a highly competitive group of Native CDFI nominees, CILC
received the Circle of Honor award for demonstrating strong financial
performance, developing strong partnerships, maintaining a
diversification of funding sources, and significantly impacting their
market.  CILC is led by Carol Gore. Cindy Mittlestadt, Senior Manager,
accepted the award on behalf of the organization. 

The Visionary Leader Award recognizes a person who embodies a long-term
contribution to the Native CDFI industry, and whose local asset building
efforts make them an inspiration for others as the Native CDFI industry
grows and matures. Citizen Potawatomi Community Development Corporation
(CPCDC)'s Executive Director Kristi Coker was selected to receive the
Visionary Leader Award for Outstanding Achievement.   She is the
founding director of CPCDC which declares itself as the most active
Native CDFI business in the nation.  Kristi is a highly visible leader
in the Native CDFI industry, and has helped transition CPCDC from a
local Native CDFI to an institution that competes in the mainstream CDFI
industry.   What distinguishes Ms. Coker as a leader is not just her
ability to lead her organization, but also her willingness to provide
her time and expertise as a mentor and to share her organizational
information to assist other Native and non-Native CDFIs.  As a Native
CDFI visionary leader she has demonstrated a strong commitment to the
Native CDFI industry.   CPCDC is a Native CDFI located in Shawnee,
Oklahoma that offers training, technical assistance, loans and financial
education and is a former Circle of Honor awardee.

"Cook Inlet Lending Center and Kristi Coker are two examples of
perseverance, determination, and success in the Native CDFI industry,"
said Tracey Fischer, President and CEO of Oweesta.  "They serve as
inspiration to their peers as many other Native organizations across the
country are following in their path to empower their communities and
develop self-sufficient thriving economies."

"Native CDFIs are doing remarkable work under incredibly challenging
circumstances. Cook Inlet Lending Center and Kristi Coker represent the
best of the best in these challenging times," said Opportunity Finance
Network President and CEO Mark Pinsky.  "Lending and development
opportunities in Indian Country are still limited and we applaud the
vital work of Native CDFIs in offering access to capital."

The awards ceremony capped off the pre-conference Native Gathering, an
opening event to the week-long 25th Annual OFN Conference where Native
economic development practitioners and tribal representatives from
across the country joined hundreds of other opportunity finance experts
to share and learn about new ideas, strategies for change, and
innovations from the field. 

For more information on the awardees, please visit their websites at 
www.cookinlethousing.org <http://www.cookinlethousing.org>  and 
www.potawatomi.org <http://www.potawatomi.org> .  

### 

About Oweesta  

Oweesta provides opportunities for Native people to develop assets and
create wealth by assisting in the establishment of strong, permanent
institutions and programs, leading to economic independence and
strengthening sovereignty for all Native communities. Based on Oweesta's
Integrated Asset Building Model, its programs and services help build
local capacity and provide powerful tools for Native community
development. More information is available at: www.oweesta.org
<http://www.oweesta.org> . 

About Opportunity Finance Network 

Opportunity Finance Network is the leading network of private financial
intermediaries identifying and investing in opportunities to benefit
low-income and low-wealth people in the U.S. Our financing delivers both
sound financial returns and real changes for people and communities.
Opportunity Finance Network originated more $19.8 billion in financing
in non-conforming urban, rural, and Native communities through 2007.
This has generated or maintained 191,381 jobs; 43,050 businesses;
577,736 housing units; and 9,552 community facility projects. With
cumulative net charge-off rates of less than 1.1%, we have demonstrated
our ability to lend prudently and productively in unconventional markets
often overlooked by conventional financial institutions. More
information is available at: www.opportunityfinance.net
<http://www.opportunityfinance.net/> .

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