First Nations Oweesta Corporation and Wells Fargo Launch $500,000 Program for Native Americans
July 09 2018 - 4:23PM
Business Wire
Program offers $5,000 down payment assistance grants in five
U.S. communities; aimed at increasing homeownership
First Nations Oweesta Corporation and Wells Fargo & Company
today announced a $500,000 home down payment assistance program
aimed at increasing U.S. homeownership opportunities for Native
Americans. The grant is among the first by Wells Fargo in its
five-year, $50 million commitment to American Indian/Alaska Native
communities to help address unique economic, social and
environmental needs in Indian Country.
Wells Fargo has committed $500,000 to five Native Community
Development Financial Institutions (CDFIs), including:
- Cook Inlet Lending Center (Anchorage,
Alaska)
- Four Directions Development Corporation
(Orono, Maine)
- Mazaska Owecaso Otipi Financial (Pine
Ridge, S.D.)
- Native Community Finance (Laguna,
N.M.)
- TIWA Lending Services (Isleta Pueblo,
N.M.)
“For a myriad of reasons and for generations, Native communities
have historically had lower homeownership participation than other
parts of the U.S., and this new opportunity will allow Native
Americans to attain the true American dream,” said Chrystel
Cornelius, executive director of First Nations Oweesta Corporation.
“This opportunity provided by Wells Fargo will have an incredible
impact for generations within Indian Country as we see tribal
members creating assets and building personal wealth in the form of
homeownership.”
With Oweesta acting as the intermediary, committed funding from
Wells Fargo will be directly issued to all organizations as equity
grants, allowing each organization to provide direct grant funds up
to $5,000 each to tribal members for down payment assistance
capital through their respective tribal lending programs. To learn
more about eligibility requirements and how to apply for a down
payment assistance grant in one of the five communities, contact
the Native CDFI in the market.
“Wells Fargo has been serving American Indian/Alaska Native
governments and communities for more than 50 years and currently
provides capital and financial services to more than 200 tribal
entities in 27 states, including tribal community development
projects,” said Martin Sundquist, executive director of the Wells
Fargo Housing Foundation. “This work will continue to help address
challenges in partnership with American Indian/Alaska Native
leaders, governments and native-led nonprofit organizations in ways
that are intentional, relevant, impactful and inclusive.”
About First Nations Oweesta Corporation
First Nations Oweesta Corporation was created 19 years ago to
address the lack of capital and financial infrastructure holding
back economic development in Native communities recognized by its
parent organization, First Nations Development
Institute. First Nations Oweesta Corporation’s mission is to
provide opportunities for Native people to develop financial assets
and create wealth by assisting in the establishment of strong,
permanent institutions and programs that contribute to economic
independence and strengthened sovereignty for all Native
communities. For more information,
visit www.oweesta.org.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investments, mortgage, and consumer and commercial finance through
8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 42 countries and territories to
support customers who conduct business in the global economy. With
approximately 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was
ranked No. 26 on Fortune’s 2018 rankings of America’s largest
corporations. News, insights and perspectives from Wells Fargo are
also available at Wells Fargo Stories.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180709005187/en/
First Nations Oweesta CorporationHeather Rademacher Taylor,
303-774-8838Heather@oweesta.orgorWells Fargo & CompanyChris
Hammond,
415-222-4106Chris.L.Hammond@wellsfargo.com@ChrisHammondWF
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Sep 2023 to Sep 2024