Rebecca Adamson, a Cherokee, founded First Nations Development Institute (FNDI) in 1980 to assist indigenous peoples to control and develop their assets, thus directing their economic futures in ways that fit their cultures. While First Nations distinguishes between eight different asset categories, it now concentrates on land and natural resources.
FNDI has spearheaded a cultural paradigm shift in Native American communities, encouraging indigenous entrepreneurship instead of passivity. In order to support small entrepreneurs, First Nations pioneered the first microfinance loan fund on a US reservation in 1983, the Lakota Fund. Previously, Native Americans only could deposit money, but did not have access to credit. Based on Lakota’s success, FNDI has initiated similar funds on numerous reservations through its small grants program. FNDI’s Financial Literacy Program developed with the Fannie Mae Foundation has been highly successful in teaching families how to save, acquire home ownership and invest.
FNDI has spearheaded a cultural paradigm shift in Native American communities, encouraging indigenous entrepreneurship instead of passivity. In order to support small entrepreneurs, First Nations pioneered the first microfinance loan fund on a US reservation in 1983, the Lakota Fund. Previously, Native Americans only could deposit money, but did not have access to credit. Based on Lakota’s success, FNDI has initiated similar funds on numerous reservations through its small grants program. FNDI’s Financial Literacy Program developed with the Fannie Mae Foundation has been highly successful in teaching families how to save, acquire home ownership and invest.
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