What's Happening

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.
 

December 27, 2021, Santo Domingo, Dominican Republic – During the time of year that focuses on the birth of Jesus, Sister Carol Gross, OP, gave a live stream presentation on a central figure of the nativity: Mary, the mother of Jesus and our mother.

Sister Carol Ann Gross, OP

Sister Carol’s talk, “Devotion to Mary in Latin America,” was presented on December 9, 2021, the day after the patronal feast of the United States, the Feast of the Immaculate Conception, and three days before the December 12 Feast of Our Lady of Guadalupe, who is especially revered in Mexico and by many Hispanic people in the United States.

The talk was part of a series of presentations organized by the Adrian Dominican Sisters’ Spirituality Committee. Sister Carol spoke from her home in Santo Domingo, Dominican Republic.

Sister Carol described in general the Marian piety of many of the people of Latin America and the Caribbean – a popular piety involving the heart. In times of need, she said, this devotion to Mary “soothes pain and strengthens hope – the loving, healing, consoling power of God or God’s mother, who is the stand-in for God at the center of Latin American culture.” 

Throughout the centuries, Sister Carol said, Mary has appeared to suffering people in a variety of images – suited to the people of a particular culture to help them to understand God’s love for them. “Myths and legends attributed to an icon of Mary speak to the needs of the people,” she explained. 

Sister Carol highlighted a number of images of Mary that are popular in various parts of Latin America and the Caribbean.

• Our Lady of Altagracia (“high grace”) is the cultural image of Mary in the Dominican Republic. She is known as the Protectress of the Dominican Republic, Sister Carol added. The image was originally brought home by a merchant to his daughter in the Dominican Republic. A basilica now houses the image, and about 8,000 people visit the basilica every year. On January 21, the Feast of Our Lady of Altagracia, people who cannot visit the basilica take part in Masses, novenas, and processions at their home parishes.

• Our Lady of Guadalupe: Mary appeared as a pregnant Aztec woman in 1531 to St. Juan Diego, an Aztec who had converted to the Catholic faith, at Tepeyac Hill near Mexico City. Because of her appearance, Sister Carol said, “The native people of Mexico began to recognize the Catholic faith. They say, ‘This virgin looks like us. She is ours and we are hers.’” The Patroness of the Americas, Our Lady of Guadalupe “is our mother,” Sister Carol said. “As a mother she understands, relates, protects, listens, comforts.”

• The Immaculate Conception: Mary, under the title of the Immaculate Conception, is the Patroness of the United States and of other countries, such as Nicaragua, who revere her as La Purisima, the most pure one, Sister Carol said. At sundown on December 7, the eve of the feast, people in Nicaragua “flood into the streets in groups, singing hymns to La Purisima,” Sister Carol said. The feast refers to Mary’s conception without original sin, not to the conception of Jesus.

Learn more about various Marian devotions in Latin America in the recording of Sister Carol’s presentation, found below.