CSR Press Release

CHARLOTTE, N.C. , Oct. 29 /CSRwire/ - 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 and 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.




About
Opportunity
Finance
Network


Opportunity
Finance
Networkis
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.


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