It is no surprise to listeners, many of whom are in the trenches of strengthening under-invested communities, that few strategies are as impactful as Community Development Financial Institutions (CDFIs). These U.S. Department of Treasury-certified nonprofits operate in communities that banks do not serve, leaving them starved for capital and financial education. In many rural communities and in Indian Country specifically, CDFIs are often the only lending institutions available. It is important to note that low-income and communities of color carry the legacy of redlining and other public policies and corporate practices that intentionally barred low-income and people of color from small business loans and mortgages. It took years of grassroots action to move Congress to enact the Community Reinvestment Act and the Reigle Act, both of which are standout legislative solutions. On this episode of Power Station, Pete Upton, (Ponca Tribe of Nebraska) CEO of the Native CDFI Network, talks about how his on-the-ground members serve and invest in Native citizens across our nation, generating businesses, expanding homeownership and seeding generational wealth in Indian Country. He is a convener, bringing federal leaders, Native CDFI leaders and philanthropy to a common table to celebrate successes and advocate for what is needed and owed.
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