Building Children and Youth Savings in Native Communities Tanya Fiddler, Presenter
Who We Are • Native Community Development Financial Institution (CDFI) • Integrated Asset Building Model oMicroenterprise and Small Business Revolving Loan Fund oProvide Financial Education and Asset Building Training, Business Plan Training and Technical Assistance oIndividual Development Account Savings Program oYouth Entrepreneurship o Credit Building Loan program
Where We Are • Cheyenne River Sioux (Lakota) Reservation Wakpa Wasté Oyanke (the Good River Reservation) • North Central South Dakota (rural/remote) • Dewey and Ziebach counties (11th and 4th poorest in the US respectively) • 80% Native American population but less than1% of the businesses are Native-owned • People travel 50 to 100 miles for services or employment
Who We Serve • 40% of households below the poverty level • 45% of the population under the age of 18 • Few have educations beyond high school • Easy targets for predatory lenders –avg credit score 100 points lower than national average • Little expertise with banks or money management (50%) • Economic dependence vs. independence
Native Asset Development Challenges
Opportunities
• Historically, Lakota people saw assets as • Teach youth about the broad types of communal resources including wildlife, Native assets in today’s world—financial, rivers, plants, and more. Types of assets natural, institutional, cultural, human common today are not understood. capital, and more. • Most Lakota tribes have policies and • Change Tribal policies and practices by practices that restrict personal ownership showing how most people without and control of assets. personal assets remain poor. • Most Lakota people lack the knowledge and skills to control their assets and maintain effective money management.
• Teach financial literacy skills early and often and offer incentives like IDA savings match to change spending habits.
Our Unique Approach • Guided by Lakota values: Generosity (Wacantognaka) Courage (Wo’ohitika) Respect (Wa’ohola) Wisdom (Woksape) • Guided by best practices in the field: CFED Report EDS national pilots NFEC
Wicoicage Sakowin kin un Wicakagapi - Building for the 7th Generation • • • • •
Eship and Financial Education (EAGLE center) Joint school board support Mazaska K’sapa Nitawa IDA Savings Program Youth Internships Making Waves Campaign “The savings part is the experience for me. I used to just spend money right away, but completing the Money in Motion workbook really opened my eyes to the benefits of saving and budgeting while I’m still young..” - Deedrah Seth, 2007 Entrepreneur Intern
Making Waves – What? Campaign to replace poverty and uneployment with financial literacy and entrepreneurship.
Making Waves – What? Objective 1: 90 teachers in grades K-12 integrate financial literacy and entrepreneurship lessons into their schools and classrooms. INSERT SOME YOUTH PICTURE
Making Waves – What? Objective 2: Community organizations change 4 policies or practices on the Reservation that expand financial literacy and entrepreneurship. INSERT SOME YOUTH PICTURE
Making Waves – How? Four Bands Schools
• • • •
Coordinate the campaign Support teachers Lead media and PR actions Receive curriculum and coaching • Empower youth with knowledge and experiences
Community Orgs.
• Receive campaign materials • Receive technical assistance • Take actions to support change
Youth
• Assess, Build and Create • Become “Wave Makers”
Questions? www.fourbands.org
[email protected]