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A man holds a solar panel.

By Cathi Kim
Senior Vice President, Inclusiv/Capital, Investments and Impact


September 12, 2024, New York, New York -- Inclusiv and the Adrian Dominican Sisters announced the Sisters’ investment in Cooperativa de Ahorro y Crédito Jesús Obrero (“Jesús Obrero”), a Community Development Financial Institution (CDFI) cooperativca advancing the economic well-being of communities in Guaynabo, Puerto Rico.

Puerto Rican cooperativas have been at the forefront of Hurricane Maria recovery efforts and initiatives to revitalize local economies across the Island. Jesús Obrero’s mission and impact focus on the economic, social, and environmental well-being of under-resourced communities and the cooperative sector. 

Jesús Obrero has developed one of the leading green lending models, providing critical infrastructure on the island by financing the installation of hundreds of solar systems for households and small businesses and supporting the creation of community micro-grids.

The Adrian Dominican Sisters Portfolio Advisory Board is the first investor to replicate the model created by Inclusiv and Deutsche Bank Americas Foundation to invest in cooperativas and their recovery and resiliency initiatives in Puerto Rico. This partnership demonstrates the strength of the Puerto Rican cooperative sector and field building efforts led by Inclusiv. This investment represents the latest impact initiative added to the 42-year partnership between Inclusiv and Adrian Dominican Sisters. 
Read more about Inclusiv’s partnership with Adrian Dominican Sisters in the 2023 Inclusiv Annual Report.

“The Adrian Dominican Sisters have been catalytic partners to the community development credit union movement, demonstrating what is possible when we lead with purpose and put communities first,” said Cathie Mahon, President and CEO of Inclusiv. “Inclusiv is grateful for the Sisters’ dedication and foresight that provided the critical capital necessary for the growth of the CDFI sector. We are delighted to expand our partnership on anti-poverty and wealth-building initiatives to include the climate resiliency and economic revitalization efforts led by cooperativas in Puerto Rico.” 

Sister Marilín M. Llanes, OP, Director of the Adrian Dominican Sisters’ Portfolio Advisory Office, said, “We rejoice with our new partnership with Cooperativa de Ahorro y Crédito Jesús Obrero thanks to Inclusiv for facilitating the connection. A great hope in common we share is to be pathways bringing about economic opportunities for the struggling but resilient communities in Puerto Rico.” 

Aurelio Arroyo González, Executive President of Cooperativa Jesús Obrero, said the investment “allows us to continue expanding the footprint of cooperative solidarity work in our communities.” He added that since its founding in 1959, the Cooperativa has focused on developing financial products and services that strengthen members' ability to improve their conditions and quality of life and, more recently, to enhance their capacity to face the challenges brought by climate change. “This investment represents a boost to the history of community engagement of our institution, and we receive it with the commitment to continue creating opportunities for our members, communities, and the cooperative ecosystem of Puerto Rico,” he said. 

Inclusiv’s work to increase investment in cooperativas is just beginning. Thanks to trailblazing investors like the Adrian Dominican Sisters and Deutsche Bank Americas Foundation, more institutional investors are exploring opportunities to support cooperativas by working with Inclusiv to invest and place deposits in these vital institutions. The first mainland investor deposits in cooperativas are coming soon and Inclusiv looks forward to continuing to grow its capital offerings for the cooperativa sector.
 


A woman with hair in a lose bun and wearing glasses and a red and black print shirt stands at a podium talking

September 6, 2024, Adrian, Michigan – “Women didn’t get the right to vote. Women earned the right to vote. Women fought for the right to vote and got it.”

That was one of many messages that women’s rights activist Lisa Maatz brought to the crowded Common Room of Weber Retreat and Conference Center on August 27, 2024, – the day after the 104th anniversary of the passage of the 19th Amendment, granting white women the right to vote.

Lisa’s talk on the day after Women’s Equality Day was sponsored by the Adrian Dominican Sisters Office of Racial Equity and Cultural Inclusion. Kevin Hofmann, director of the office, in his welcome, noted that “we’ve come a long way” toward women’s rights, “but we’re not done.”

Lisa’s long-time activism for women’s rights included serving as Vice President of Government Relations and Advocacy for the American Association of University Women, spearheading a campaign that ultimately led to the passage of the Lilly Ledbetter Fair Pay Act. She represented women’s advocacy groups on Capitol Hill and is now a national consultant focusing on gender issues, grassroots advocacy, and nonprofit organizations.

Lisa began her advocacy when she was still in elementary school. She and her classmates discovered that, while they had no doors on their bathroom stalls, the boys did. “I’m not sure if I thought it was a gender issue, but I felt it was a fairness issue,” she recalled. After the principal rejected her personal request for stall doors, she started a petition drive which ultimately garnered 200 signatures. “We got doors two weeks later,” she recalled.

“When we think about women’s rights today, you have to remember where we’ve been and how long social change can take,” Lisa said. She noted that the fight for women’s right to vote in the United States began in 1848 with a Women’s Rights Conference in Seneca Falls, New York, but it took until 1920 for the 19th Amendment to pass. “It was a long time in the making,” she said. The suffragettes who marched in Washington, D.C., suffered for their efforts. “These women were getting stoned, getting fruit thrown on them, getting pushed and shoved as they were walking,” she said.

It took U.S. women of color 40 more years to get the vote. Still, many marched with the white women in Washington, D.C., despite being told that they couldn’t join them. “They walked anyway,” Lisa said. “Indeed, their presence was part of what made that march so momentous.”

Once the 19th Amendment was passed, the women’s movement spent “40 years in the desert … conflicted about what they should do and the next issues,” Lisa said. They agreed on only one issue: passing the Equal Rights Amendment, stating that rights should not be abridged on account of sex. 

“To this day, we don’t have an Equal Rights Amendment” due to technicalities, Lisa said. Only 35 states had ratified the 28th Amendment by 1977, but 38 were required. Virginia was the 38th state to ratify the amendment in 2020, but the deadline had passed and other states had since rescinded their ratification. “There’s a new, energetic movement to get the ERA passed,” Lisa added.

Another key issue today is the pay gap between men and women who perform approximately the same work and the even greater pay gap suffered by women of color. Lisa led a coalition that helped to bring about the passage of the Lilly Ledbetter Fair Pay Act of 2009. The 2007 Supreme Court decision, Ledbetter v. Goodyear Tire and Rubber Co., set a 180-day statute of limitations, starting with the employer’s pay decision. The bill sets the statute of limitations to begin with each new paycheck, allowing women more time to file a complaint. 

In recent years, Lisa said, the women’s movement has expanded. “It comes down to intersectionality,” addressing the various identities of women, including gender, race, and class. “We work with any group that also cares about our issues,” she said. “If your group cares about violence against women but doesn’t take the stance I like on Title IX, I’ll still work with you.”

Lisa had final piece of advice for both women and men: “Never take voting for granted.” She cautioned that, while the vote is fairly well protected in Michigan, the Secretary of State in some states perform regular purges of voter registrations. “Check to make sure your registration is still valid.” In addition, she said, “Anything you can do to register new voters can make a difference.”

Watch the entire presentation.

 

Caption for above photo: Lisa Maatz, women's rights advocate, speaks at the podium during a presentation sponsored by the Adrian Dominican Sisters Office of Racial Equity and Cultural Inclusion.


 

 

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