Oweesta Timeline

1982- Policy research and community organizing begins for the development finance program later named Oweesta (from the Mohawk word for money), based on a conceptual blueprint in First Nations’ original planning documents.

1985- The Lakota Fund is founded; first micro-enterprise peer lending fund on a reservation; Study released of banking and access to capital on a reservation.  First Nations begins to raise awareness in Indian Country of the Community Reinvestment Act, a law meant to end the credit redlining of financially under-served areas, including most reservations.

1986- The Oweesta Program and Fund is established, dedicated to addressing the critical lack of access to development capital and credit in Native communities; first model of Community Development Financial Institutions in Indian Country.  On a continuing basis, First Nations participates in the emerging CDFI movement.

1988- First study of informal sector economic activity on a reservation, demonstrating micro-enterprise among tribal members.

1989- First annual Oweesta Conference in Denver, on reservation lending and capital management; representatives from 40 tribes attend.

1992- The Lakota Fund becomes an independent entity as planned.

1993- First Nations provides information the US Department of Justice will rely on in bringing successful legal actions against two border town banks for their lending policies toward Native Americans.

1994- The Community Development Banking and Financial Institutions Act of 1994 becomes law, incorporating many of First Nations’ recommendations and several of the structures of the Oweesta Program and Fund.

1995- Start of successful three-year effort to bring the CDFI Fund into compliance with its authorizing legislation by conducting a study of lending and credit needs in Indian Country.

1998- First Nations conducts detailed surveys and analyses of banking and credit services on reservations; testifies on major bank merger implications for Indian Country at Federal Reserve Bank hearings in San Francisco and Chicago.

1999- Oweesta Program and Fund becomes First Nations Oweesta Corporation (Oweesta), an affiliate of First Nations Development Institute.

2000- Oweesta becomes first CDFI Fund certified national Native CDFI intermediary, dedicated to providing technical assistance, training, research and lending for local Native CDFIs in all 50 states.

2001- Oweesta teams up with affiliate First Nations Development Institute to provide grant program for start up Native CDFIs, known as the Little Eagle Staff Fund.

2003- Oweesta receives contract with partner NCCA to provide specialized training and TA program for Native CDFIs called the Native Communities Financing Initiative (NCFI).

2004- Oweesta receives funding from CDFI Fund to develop comprehensive website for Native financial institutions after survey to local Native CDFIs.