White Earth Investment (WEII) Initiative is a subsidiary of the Midwest Minnesota Community Development Corporation. Based in Detroit Lake, MMCDC wanted to channel its rural development services and expertise to a reservation-focused organization with a predominantly Native American board of directors. The goal was to deliver an attainable strategy to combat poverty on the reservation.
As another piece of that strategy, MMCDC acquired ownership of an on-reservation bank now known as Community Development Bank in Ogema, MN. (The bank is co-owned by two other nonprofit economic development organizations operating in South Dakota and Wisconsin.) To support the bank's Native and Emerging Markets Initiative, WEII expanded its financial education to include Spanish-language financial counseling, tax preparation and homebuyer education services for Hispanics living and working in rural communities near the reservation.
WEII, MMCDC and CD Bank work together to improve access to financial education, and financial products and services among Native Americans and new, diversified community residents, with the goal of assisting them with asset-building strategies. Creating and retaining good jobs and quality affordable housing is included in this strategy, as is providing alternatives to predatory lending.
For more information on MMCDC, click here (www.mmcdc.com)
For more information on CD Bank, click here (www.comdevbank.com)