Latest news with #ChrystelCornelius
Forbes
07-05-2025
- Business
- Forbes
Reimagining Finance In Native Communities: The Power Of Partnership
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.
Forbes
07-05-2025
- Business
- Forbes
Why Native Communities Are The Future Of Impact Investing
In the search for the next frontier of innovation and opportunity, impact investors are increasingly looking toward Indian Country — a dynamic and under-invested market poised for transformative growth. From clean energy and regenerative agriculture to digital infrastructure and housing, Native communities are leading the way with bold, visionary projects that not only serve their people but offer scalable solutions for a changing world. At Oweesta Corporation, we've seen firsthand how Native CDFIs (Community Development Financial Institutions) are unlocking potential in tribal communities by supporting entrepreneurs, building housing, and advancing sustainable infrastructure. These are not charity-driven efforts; they are strategic investments delivering measurable returns — both financially and socially. Chrystel Cornelius speaking during 2023 Capital Access Convening in Juneau, AK. Oweesta Indian Country: A Growing Market of Opportunity Tribal nations are sovereign governments with growing economic engines. Today, Indian Country spans 574 federally recognized tribes across 35 states, generating over $130 billion in annual economic activity. And that figure doesn't even capture the full landscape of Indigenous economies — which includes state-recognized tribes, Native Hawaiian communities, and many others exercising self-determination and working toward federal acknowledgment. Yet, despite this strength, Native communities remain among the most undercapitalized populations in the U.S. Less than 0.4% of philanthropic funding and an even smaller fraction of investment dollars reach Native-led initiatives. That dynamic is beginning to shift. New investment models — rooted in Native leadership, sovereignty, and community-driven priorities — are reshaping what it means to invest in Indigenous economies. Through partnerships with values-aligned investors like Tamalpais Trust and philanthropic funders like the Northwest Area Foundation, Native communities are building energy sovereignty, supporting Native farmers and ranchers, expanding broadband access, and creating culturally grounded financial education programs. As Nikki Foster from the Northwest Area Foundation notes: 'Native CDFIs have a proven and successful model for building opportunity in Indian Country. Because they understand the unique assets and the traditional values of Native communities, they can provide pathways for entrepreneurs in ways that grow businesses and employment, even in places without a main street or a bank. And, they have the numbers to back this up. This approach builds healthy tribal and regional economies for the benefit of all.' 'Indian Country is rich with innovation, resilience, and opportunity. For too long, we've lacked access to capital — but that's changing,' says Chrystel Cornelius, President and CEO of Oweesta Corporation. Indigenous Innovation for a Sustainable Future The economic growth emerging from Indian Country is deeply tied to cultural preservation and environmental stewardship. Native entrepreneurs are leading solar and wind projects that restore ancestral lands, launching technology ventures that connect rural communities, and expanding food systems that prioritize health and sustainability. In fact, many of the industries that define the future — clean energy, regenerative agriculture, and climate resilience—are rooted in Indigenous knowledge systems. That makes Indian Country not just a market to watch, but a wellspring of leadership and innovation the world urgently needs. 'When you invest in Native communities, you're investing in time-tested, sustainable approaches that have served our people — and this planet — for generations,' adds Cornelius. A Better Return: Long-Term Prosperity for All Investing in Native communities creates ripple effects far beyond tribal lands. According to Oweesta's recent impact analysis, every dollar invested in Native CDFIs generates over $2.38 million in local economic impact — fueling job creation, supporting small businesses, increasing homeownership, and building generational wealth. In addition to social outcomes, investments in Native financial institutions show strong financial performance: low default rates, high portfolio recovery rates, and competitive internal rates of return (IRR) for patient capital vehicles. 'Native CDFIs are more than lenders — we are weavers of prosperity, resilience, and self-determination,' says Cornelius. Chyrstel Cornelius, CEO of Oweesta and Ronald Milsap, Director, U.S. Zero Barriers to Business with BMO during the awards ceremony at Oweesta's 2024 Capital Access Convening in Santa Ana Pueblo, NM. BMO was a sponsor for Oweesta's Capital Access Convening. Sam Levitan Photography From Philanthropy to Partnership Funders and investors are moving away from traditional charity models toward partnership-based approaches — ones that trust Native organizations to lead. This shift includes providing unrestricted funding, investments paired with equity, patient capital, and long-term commitments grounded in relationship, accountability, and respect for sovereignty. At Oweesta, we work alongside partners who understand that economic justice for Native people is not a peripheral issue — it's central to building a stronger, more inclusive economy. We have seen firsthand the transformational power of capital aligned with culture, vision, and community priorities. As Shannon Ward, Chief Lending Officer at Oweesta, affirms, 'At Oweesta, we see firsthand how investments in Native CDFIs transform lives, create sustainable growth, and build generational wealth. We are not just funding projects, we are empowering communities to thrive and lead the way toward a more inclusive and sustainable future.' The Time is Now Indian Country is no longer a hidden market — it's a hot market. With the right investments, tribal nations are poised to lead in shaping a just, sustainable future for all. For investors seeking real impact, resilience, and meaningful growth, the opportunity is clear: Partner with Native communities. Fund Native-led solutions. Build the future we all deserve. This is a content marketing post from a Forbes EQ participant. Forbes brand contributors' opinions are their own.
Forbes
07-05-2025
- Business
- Forbes
Closing The Financial Access Gap: Empowering Native Women, Transforming Economies
In Native communities across the United States, we have always known: when you invest in women, you invest in whole nations. Women are the backbone of our communities, the culture-bearers, the caretakers, the changemakers. Yet, in an economy built on exclusion, Native women — like so many women globally — continue to face steep barriers to financial access and economic freedom. Oweesta team members Monique Behrens, Florence Ludka, Sayre Savage and Drea Domebo manning the booth at the 2024 OFN conference in Los Angeles. CA. Sam Levitan Photography To explore how closing the financial access gap can transform entire communities, we spoke with Native women leaders working at the frontlines of economic empowerment. In their own words, they share their vision for changing narratives, the clients who inspire them, and the women who shaped their leadership journeys. 'For far too long, Native women have been denied access to the financial systems that shape our lives and our futures,' says Chrystel Cornelius, President and CEO of Oweesta Corporation. 'But we are changing that—through Indigenous leadership, culturally grounded finance, and unwavering commitment to self-determination. We are rewriting the narrative of what is possible.' Rewriting the Narrative At Oweesta Corporation, a Native CDFI intermediary predominantly led by Indigenous women, we're not just advocating for change — we're building it from the ground up. Our work centers on expanding access to capital, education, and opportunity so Native people can thrive on their own terms, in their own communities. Across Indian Country, Native women leaders are stepping into their power and transforming economies. One of those leaders is Skya Ducheneaux, Executive Director of Akiptan, an Indigenous-led CDFI that finances Native agriculture. For too long, the public narrative about Native communities has focused solely on struggle. Skya calls for a shift — one that centers Native excellence, innovation, and strength. 'One thing that I hate is focusing on the negatives only. Our communities have SO much to offer beyond the rough edges. We have culture, we have family, we have hope, we have a depth of history, we are resilient, we are powerful, and we are so much more than a dilapidated house or a broken-down car or whatever else is going to get shown in those situations.' The Power of Trust and Relationship This spirit of strength, despite historical and systemic disinvestment, is the heartbeat of Native women's leadership. Skya reflects on the early days of her organization's work, when trust was the foundation of their success: 'All of my producers inspire me, but the ones who have been with us from the first few months of opening our doors have a special place in my heart. They really took a chance on us in the same way we took a chance on them. We were showing up for our community, doing our best, with so much still to learn, but they trusted their business and hard work to us to help them build their dreams and now we get to watch them succeed in all the best ways.' The trust between Native women entrepreneurs and Native-led financial institutions is sacred. It reflects generations of relational accountability — where success isn't measured in dollars alone, but in the well-being of families, food systems, and future generations. Relationship-based lending, mentorship, and culturally rooted support are core to what makes Native CDFIs so successful in reaching and empowering women entrepreneurs. Honoring Culture Through Finance In many Native communities, finance is not just about money — it's about values. At Oweesta, we don't separate economic development from cultural revitalization. Our programs are intentionally designed to reflect Indigenous worldviews, where relationships come first, and wealth is shared. In traditional economies, wealth wasn't accumulated — it was distributed. Prosperity was measured not by what one had, but by what one gave. These values remain alive today and form the backbone of our lending and financial education programs. 'We teach budgeting, yes—but we also teach the importance of kinship. We offer business development services—but we also remind entrepreneurs that success doesn't mean leaving your community behind. We embed language, ceremony, and traditional practices into our training models because when Native people see themselves reflected in financial systems, transformation happens,' Chrystel Cornelius, President & CEO, Oweesta Corporation. The Numbers Tell a Story Too Since our founding, Oweesta has facilitated the deployment of over $1.1 billion in capital to Native communities and provided culturally relevant financial education training to over 39,125 individuals. We partner closely with Native CDFIs on the ground, who directly lend to individuals. Since 2019, at least 1,012 of the clients served were Native women entrepreneurs—many of them taking bold first steps towards launching a business, purchasing a home, or building intergenerational wealth. These numbers represent more than economic impact—they reflect the return of agency, voice, and vision to communities systematically excluded for centuries. Conclusion The leadership of women like Skya is rooted in a deep legacy of matriarchal strength. While she doesn't point to one single moment that shaped her leadership, she says her path was forged by watching and learning from generations of fearless women: 'So many values come to mind. Strong, consistent, fearless and powerful. The women Skya Ducheneaux, Executive Director of Akiptan Oweesta I like to surround myself with are the ones who are solution oriented, steadfast in their mission, full of integrity and unapologetic. They don't always necessarily think about glass ceilings or typical gender roles; they just get out there and do the damn thing because it's the right thing and needed done! That's what I want to be like and if I get to shatter a few glass ceilings while doing, it makes it even sweeter. I want to make the women in my life proud, and I want to be that example for my daughters. Here's to strong women; may we know them; may we be them and may we raise them!' At Oweesta, we witness this strength every day. It lives in the mothers saving to buy a home, the grandmothers raising their grandchildren while starting a business, and the daughters who carry their ancestors' prayers into boardrooms and lending circles. But strength alone isn't enough —we must meet it with infrastructure, education, and access. Globally, nearly one billion women remain unbanked. In Native communities, systemic exclusion from financial institutions has created a chasm that limits opportunity. That's why Indigenous-led solutions are so vital. We aren't here to replicate colonial systems—we're here to restore balance and build anew. Financial equity isn't a handout. It's a return on centuries of stolen land, stolen labor, and stolen wealth. It's reparative, it's necessary, and it's already happening — because Native women are leading the way. Closing the financial access gap for women, particularly in Native communities, is not just a matter of justice — it's an economic imperative. As these leaders show, empowering women means investing in community strength, resilience, and a future where everyone thrives. At Oweesta, we don't just know strong women—we invest in them. And when we do, we invest in the future of our nations.
Forbes
14-04-2025
- Business
- Forbes
Investing In Sovereignty: The Oweesta Approach
Native Americans own over 400,000 businesses across the United States, accounting for 1.2% of all U.S. firms. Yet many entrepreneurs face significant barriers in accessing capital, often due to the unique legal and geographic structures within tribal communities and broader challenges within the traditional lending system. As President and CEO of Oweesta Corporation, a national Native CDFI intermediary, Chrystel Cornelius leads efforts to bridge the gap between financial institutions and Native communities. A citizen of the Oneida Nation of Wisconsin and the Turtle Mountain Band of Chippewa Indians in North Dakota, Chrystel has spent the past 25 years advancing economic development in Native and rural areas. I recently had the opportunity to speak with Chrystel about the current landscape for Native-owned businesses and the transformative work of Oweesta. Our conversation, edited for clarity, follows below. Rhett Buttle: At a high level, can you describe how Native small business owners are contributing to the economy in the United States, as well as their communities. Chrystel Cornelius: Native small business owners are vital to the strength and sovereignty of Indigenous communities and the U.S. economy. Rooted in resilience, innovation, and cultural stewardship, Native entrepreneurs are driving economic growth, creating jobs, and reclaiming economic power on their own terms. Today, Native Americans own over 400,000 businesses across the United States, representing 1.2% of all U.S. firms. Collectively, these businesses contribute over $33 billion annually to the economy and employ nearly 300,000 workers nationwide. Native-owned businesses are thriving in industries such as construction (35,969 firms), professional and technical services (30,966 firms), and other key sectors (43,573 firms). Their impact extends beyond these numbers—Native entrepreneurs are leading in tourism, agriculture, technology, and the arts, bringing Indigenous knowledge and practices into the broader market. Many Native business owners are weaving tradition with innovation, integrating ancestral knowledge, sustainable practices, and cultural craftsmanship into their enterprises. Their success is a direct investment in Indigenous communities, strengthening local economies, funding education, expanding healthcare access, and fostering self-sufficiency. Native entrepreneurs are not only contributing to the economy—they are building legacies, preserving culture, and reclaiming economic sovereignty for future generations. Rhett Buttle: What are some of the unique challenges Native entrepreneurs face in starting and maintaining their own small businesses? Chrystel Cornelius: Native entrepreneurs face distinct challenges when launching and sustaining their businesses, many of which are rooted in historical and systemic barriers. One of the most significant obstacles is limited access to capital and investment. Unlike the rest of America, many Native business owners struggle to secure traditional loans due to the rural nature of tribal communities and the reluctance of conventional banks and investors to support Native-led businesses. Without equitable financial opportunities, Indigenous entrepreneurs often rely on self-funding or community-based lending, which can limit growth potential. Infrastructure disparities further hinder Native business development. Many Indigenous communities lack reliable internet access, transportation networks, and commercial space, making it difficult to operate and scale businesses—especially in remote or rural tribal lands. These infrastructure gaps place Native entrepreneurs at a disadvantage in an increasingly digital and interconnected economy. Market access and visibility also present significant challenges. Native business owners frequently struggle to break into mainstream markets due to limited networking opportunities, lack of exposure, and misconceptions about Indigenous products and services. Many businesses rely heavily on word-of-mouth and local sales, which can limit their ability to expand and reach broader audiences. Despite these challenges, Native entrepreneurs continue to build and sustain businesses that uplift their communities, preserve cultural traditions, and contribute to economic sovereignty. Addressing these barriers—through increased access to capital, stronger infrastructure investment, and broader market inclusion—is critical to ensuring the long-term success and resilience of Native-owned businesses. Rhett Buttle: How does the Oweesta Corporation work with businesses to help them overcome these challenges? Chrystel Cornelius: Oweesta Corporation plays a critical role in strengthening Native small businesses by acting as a direct investor in Native Community Development Financial Institutions (Native CDFIs), which often face limited access to capital. By supporting these financial institutions, Oweesta ensures that Native entrepreneurs and tribal businesses have access to the funding and resources they need to thrive within their communities. Beyond investment, Oweesta supports Native CDFIs, Tribes, and Native-led nonprofits by providing technical assistance, training, and capacity-building support. These efforts help organizations strengthen their expertise needed to deliver capital, financial education, and business development services to Native entrepreneurs. By directly investing in Native-led economic development efforts, Oweesta strengthens the financial infrastructure in tribal communities, creating pathways for small business success, job creation, and long-term economic sovereignty. Through these efforts, Oweesta ensures that Indigenous businesses are not just surviving—but thriving. Rhett Buttle: Would it be possible to share some success stories? Chrystel Cornelius: Absolutely. One inspiring example comes from Olympia, Washington, where Native American and veteran entrepreneurs Daniel and Treasa Sabo launched MELO Powerwash—a professional exterior cleaning company focused on helping homeowners and businesses maintain and enhance their properties. Treasa's journey began when she connected with the Nimiipuu Fund and enrolled in their Indianpreneurship Workshop. Through this program, she sharpened her business strategy and created a solid plan to bring MELO Powerwash to life. With the guidance and support of the Nimiipuu Fund, she secured seed capital through a Native CDFI—providing the critical investment needed to launch the business. Today, MELO Powerwash has grown to serve both residential and commercial clients across Washington State, offering services like pressure washing, roof and window cleaning, and even holiday light installations. But their impact goes beyond business—by helping others protect their homes and investments, the Sabos are building a stronger, more resilient community. Rhett Buttle: The White House recently issued an executive order on reducing the federal government that impact the CDFI fund and the MBDA. Would this affect Native small businesses and if so, how? Chrystel Cornelius: The CDFI Fund and the NACA Program have made it possible for Native CDFIs to serve as financial pillars in their community, providing capital where traditional banks and lenders have fallen short. Native CDFIs' direct investment in their community has led to the creation of tens of thousands of jobs and thousands of Native-owned small businesses across the United States —all of which strengthen our local economies and our Nation as a whole. Rhett Buttle: If an aspiring entrepreneur or business owner wants to engage with the Native CDFI sector for business support, what should they do? Chrystel Cornelius: There is a CDFI in every state in the US. If a tribal entrepreneur wishes to receive support for their business they should look up viable CDFIs in their area by researching CDFIs on the Department of Treasury CDFI Fund website.
