U.S. Treasury Awards $562,000 to Chi-Ishobak to support tribal communities The U.S. Department of Treasury’s Native American CDFI Assistance (NACA) Program awarded $562,000 to Chi-Ishobak so they can continue to offer services to build capacity for our tribal citizens in the areas of professional and personal finance.
"This is a tremendous opportunity for Chi-Ishobak," said Sean Winters, executive director of Chi-Ishobak. "This is the largest grant we have received from the NACA program, and will help us provide tremendous opportunity to our tribal citizens—both personally, and for those wanting to start or are in business." The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) was established to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers. The CDFI Fund’s Native American CDFI Assistance Program (NACA Program) was created specifically to help Native Communities thrive and grow by increasing their access to credit, capital, and financial services.
"We are very pleased to announce the FY 2017 CDFI Program and NACA Program award recipients. This is the largest pool of awardees in the history of the CDFI Fund," said CDFI Fund Director Annie Donovan. "These award recipients represent a diverse array of organization types and community investment strategies, serving a broad spectrum of communities."
Overall, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 303 Community Development Financial Institutions (CDFIs) $208.7 million in awards, including $15.6 million being awarded to 38 Native CDFIs for financial and technical assistance. Awards from the NACA Program facilitate the creation and advancement of Native CDFIs and can be used for lending capital, loan loss reserves, capital reserves, financial services, and development services.
Chi Ishobak is a 501(c)(3) non-profit organization that was established in 2009 promote the improvement of the financial capacity of all tribal members by equipping them with the skills, knowledge and confidence that they need to make informed judgments and to make effective decisions with respect to their current and future personal and household circumstances. Chi Ishobak provides tribal citizens with the tools and opportunities needed for meaningful lives and selfsufficiency, whether through employment, self-employment, or traditional life-ways.
For more information, visit Chi-Ishobak’s website.