Reimagining Finance In Native Communities: The Power Of Partnership

Forbes

07-05-2025

In Native communities across the country, economic development has never been just about profit — it's about people. It's about restoring generational wealth, repairing broken systems, and reclaiming our right to self-determination. At Oweesta Corporation, we believe that kind of transformation doesn't happen in silos. It happens in partnership.
PRT staff, the steering committee, and Deputies from January 2025. Oweesta
From the very beginning, our organization was built on the principle that Native people know best what their communities need — and that by working together across industries, sectors, and sovereign nations, we can build the infrastructure for long-term, Indigenous-led economic growth.
Too often, Native communities are left out of mainstream financial systems and philanthropic priorities. The result? Persistent capital gaps, chronic underinvestment, and a lack of access to tools many others take for granted — like credit, small business support, and homeownership financing. But when financial institutions, nonprofits, and tribal governments unite around a shared mission, these challenges become opportunities. 'Our strength lies in our relationships,' says Chrystel Cornelius, President and CEO of Oweesta. 'No one sector alone can solve the complex issues our communities face. But when we align our efforts, listen deeply, and center Indigenous leadership, we create real, lasting impact.'
Indigenous Innovation, Collective Impact
At Oweesta — and across our peer organizations — we've seen the power of collaboration firsthand. One striking example is the WORTH (Wealth Opportunities Realized Through Homeownership) program, launched by Wells Fargo in 2021. Designed to create 5,000 new BIPOC homeowners in underserved markets, including rural and tribal communities, the Rural WORTH Collaborative (Oweesta, CDCB, Fahe, HOPE, RCAC, Communities Unlimited, and Lakota Funds) was awarded $7.5 million in flexible funding over four years to expand rural homeownership and dismantle systemic barriers like housing shortages, appraisal gaps, and limited credit access.
To date, the collaborative has helped over 4,000 households achieve homeownership — including more than 400 Native families — and is on track to exceed its goal of 5,610 BIPOC homeowners by December 2025.
'The Rural Worth Collaborative is combating these systemic issues while they expand homeownership, elevating their collective impact for each other's service areas,' explains Essence Smith, Senior Communications and Partnerships Manager of Partners for Rural Transformation.
Another example is the Native CDFI Network's (NCN) work with Wells Fargo to support Native CDFI growth in California and Nevada. While California is home to 110 federally recognized tribes, until recently, just two Native CDFIs served the state. Nevada has 28 federally recognized tribes — and no Treasury-certified Native CDFIs.
The Native CDFI Network's mission is to be a national voice and advocate that strengthens and promotes Native community development financial institutions (CDFIs), creating access to capital and resources for Native peoples. Pete Upton, CEO of Native CDFI Network (Enrolled Citizen of the Ponca Tribe of Nebraska) Memorymaker Photography
Through the California Native Partnership Gathering, nearly 100 tribal leaders, housing authorities, and financial organizations convened at Tule River Reservation, blending cultural protocol with practical workshops. The result: new Native CDFI development, deeper relationships, and tangible projects — including the Nupchi Xo' Oy housing development, a 40-home solar-powered affordable rental community that cuts utility costs by 40%.
'What's powerful about successful partnerships like this is the snowball effect they create,' says Pete Upton, CEO of NCN. 'Once Wells Fargo saw our work in their focus areas, we partnered — and other organizations like NeighborWorks recognized collaboration with us as a no-brainer.'
Rewriting the Rules of Access
Native communities still face major hurdles accessing capital: geographic banking deserts, outdated lending regulations, lack of trust land financing, and inadequate infrastructure. According to a study by the Federal Reserve Bank of Philadelphia, 46% of Indian Country qualifies as a banking desert.
'Even when capital is technically available, it's often attached to outdated, unclear federal regulations that restrict the kinds of flexible lending products our communities need,' says Upton. 'Partnerships help, but it's a slow process rooted in trust and cultural understanding.'
This is where Native CDFIs step in — not just as lenders, but as educators, advocates, and trusted connectors between Indigenous communities and the broader financial system.
Through collaboration, Native CDFIs are building solutions that reflect the diversity of their communities. NCN's Clean Energy Finance Certificate, for example, equips Native lenders to design local renewable energy solutions — from solar housing in California to microgrids in Alaska. Meanwhile, transformational gifts like MacKenzie Scott's $110 million investment in Native CDFIs offer trust-based capital that supports responsive, community-designed lending strategies.
'We don't need one-size-fits-all programs,' says Upton. 'We need relational approaches that honor sovereignty, strengthen capacity, and support locally driven solutions.'
Equitable Partnerships, Rooted in Respect
Ensuring that partnerships remain equitable and mutually beneficial requires more than funding — it requires intentionality.
'The fundamental principle is: 'don't speak for us until you speak to us,' says Upton. 'Equitable partnerships mean showing up with humility, centering Native voices, and prioritizing the people we serve—not just the metrics or credit.'
'Our communities carry knowledge that predates the financial systems we now seek to reform,' says Chrystel Cornelius, President and CEO of Oweesta. 'When partners come to the table not to lead, but to learn, we unlock solutions rooted in Indigenous wisdom — solutions that are not only effective, but enduring.'
Across the country, Native CDFIs — including those supported by Oweesta and NCN — are expanding their reach. They're forming mortgage cohorts, launching HUD-certified housing counseling networks, and collaborating with institutions like Fannie Mae and Freddie Mac to make affordable capital more accessible.
Pete Upton facilitating a break out session during the 2024 Capital Access Convening in Santa Ana Pueblo, NM Oweesta
Across the country, Native coalitions are already demonstrating the power of collective action. Efforts like the South Dakota Native Homeownership Coalition, Mountain Plains Regional Native CDFI Coalition, Montana Native Homeownership Coalition, Wisconsin Indigenous Housing and Economic Development Corporation (WIHEDC), Northwest Native Lenders Network, United South and Eastern Tribes (USET), and the Alaska Native–Native Hawaiian Collaborative are leading transformative, place-based initiatives to expand housing, economic opportunity, and financial infrastructure in Indigenous communities. Many of these coalitions also partner with cross-sector initiatives like the Partners for Rural Transformation, ensuring that Native communities are included in broader rural development strategies while honoring their distinct cultural and governance structures.
To truly scale this work, Native CDFIs need: Flexible, long-term capital that aligns with tribal economic realities
that aligns with tribal economic realities Operational funding to strengthen internal capacity
to strengthen internal capacity Regulatory flexibility to design financial products that actually work on tribal lands
'Nobody knows Native communities better than Native CDFIs,' Upton adds. 'With the right support, we can realize our full potential as engines of sustainable economic development across Indian Country.'
The Future is Collaborative
As we look to the future, Oweesta calls on partners across sectors — from banks and foundations to government agencies and private investors — to walk beside us.
Our goal isn't just to fill funding gaps. It's to build bridges. To reimagine what's possible when we pool our resources, uplift Native voices, and align our work with Indigenous visions for the future.
Because when partnerships are done right, they don't just fund projects. They shift power. They change narratives.
They create a world where Indigenous communities don't have to choose between cultural integrity and economic opportunity.
They make space for Native excellence to lead the way.