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.
 

By Sister Marilín Llanes, OP
Director and Portfolio Manager
Portfolio Advisory Board Office

Founded in 2005, Windmill Microlending opened its doors to skilled immigrants and refugees who land in Canada to rebuild their lives. The organization is committed to crafting the needed financial products and equipping clients, who don’t have established credit ratings or collateral, with the resources that promote economic mobility and equity.

The Adrian Dominican Sisters’ Portfolio Advisory Board (PAB) members on June 7, 2024, unanimously approved a loan to Windmill. 

Dr. Maria Eriksen, a Calgary-based clinical psychologist, was disheartened to learn custodial staff at the hospital where she worked were internationally trained professionals. Their credentials were not recognized and they could not practice their professions due to an array of obstacles ranging from language barriers, high licensing costs, and a limited understanding of the Canadian system. When Dr. Eriksen learned about the challenges these skilled immigrants faced, she took action steps that consequently changed the lives of thousands of new settlers across Canada.  

Windmill offers financial support with affordable, low-interest loans of up to $15,000 to pay for accreditation, training, and career development. Its mission-driven way is well aligned with the Adrian Dominican Sisters’ Enactment that beckons us to “building the beloved community in which everyone is cared for, absent of poverty, hunger and hate.” 

Binal, a dentist from Mississauga, Ontario, calls her Windmill Microlending Career Success Coach, Robert, “an angel in my life,” who helped her and her family at a time when they were truly in need.

She says the Windmill loan application process was simple and responsive. Robert was there to answer questions and provide financial and career advice through the entire process, which she completed from home. 

“My Windmill loan really changed my life. I was preparing for my final exam to get my credential to become a dentist,” she said. “We were in a dire financial situation and Robert shared with me the good news.” 

Binal was on maternity leave at the time and was struggling to pay for her professional accreditation exams and no financial institution would extend her the funds needed to complete the licensing process. She had been referred to Windmill Microlending by one of her dental instructors, so Binal applied for a loan and was approved within five business days. 

Binal’s Windmill loan helped her pay for childcare while she studied as well as her exam fees. It also meant she wouldn’t need to return to long shifts at a sandwich shop. With the financial pressure relieved, Binal completed her exams and is now back working in her chosen profession, bringing smiles to her patients. 

She says her early years in a new country proved challenging but with Robert and Windmill’s support, her future is bright and her potential is unlimited.
The Windmill microlending invests in financial resilience for transformative impact in the lives of skilled immigrants and refugees across Canada.

Watch a video of Binal describing her experience with Windmill.
 

October 5, 2021, New York, New York – Fifteen members of the Interfaith Center on Corporate Responsibility (ICCR) drew support from 43.9% of the shareholders of Smith & Wesson for a proposal that the gun manufacturer adopt a comprehensive human rights policy in light of rising gun violence in the United States.

The Adrian Dominican Sisters, represented by Sister Judy Byron, OP, were the primary filers of the proposal. Fourteen faith-based organizations from ICCR co-filed.

In a press release, ICCR noted that this amount of support from shareholders – compared to 39% support for a similar proposal in 2019 – “demonstrates shareholders’ mounting concern with the company’s lack of attention to the growing risks of gun violence.” The proposal calls on Smith & Wesson to include in the policy “a description of the processes the company will use to identify, assess, prevent, and mitigate adverse human rights impacts.”  

“Undisputedly, something must be done about the misuse of guns in our country,” Sister Judy said in her September 27, 2021, Shareholder Statement. “As a leading firearms manufacturer we genuinely believe Smith & Wesson has the knowledge and the expertise to engineer the solutions we need to reduce gun violence and save lives.” 

A consultant to the Adrian Dominican Sisters’ Portfolio Advisory Board, Sister Judy went on to note that the intention of the proposal is not to put Smith & Wesson out of business or to abolish the Second Amendment. “We seek to make the business, the products, and the consumers who buy them, safer,” she said. “We seek – as everyone here must surely do – to save lives.” 

September 13, 2021, Albuquerque, New Mexico — When everyday people and their families prosper, we all succeed. Our neighbors are the drivers and the foundation of their communities. It is clear that everyday New Mexicans are the true experts when it comes to knowing what they and their families need to thrive. Still, families and the voices of everyday New Mexicans all too often go unheard in the conversations that affect them the most.


For 30 years, the Partnership for Community Action (PCA), based in Albuquerque, New Mexico, has helped develop strong community leaders and advocates by investing in people and creating a strong voice in the communities they call home. Understanding that people know their own communities best, we encourage families to take ownership of the solutions and to lead the way. 

By connecting communities to decision makers, we can create lasting change together. PCA is actively working to fight white supremacy and the literal and figurative violence that it breeds through anti-blackness, the erasure of Indigenous peoples, and the oppression of LGBTQ+ communities.

Day one of the Abriendo Puertas/Opening Doors training with partners in Artesia, Roswell, Carlsbad, and Dexter, New Mexico

In 2015, PCA envisioned a redevelopment project centered on racial equity in Albuquerque’s South Valley, a community that has been divested from for generations. Through thoughtful and intentional community engagement with local residents, the idea of the Social Enterprise Center (SEC) was born. The project is an innovative approach to economic development, funded by public and private partnerships and led by PCA and the Southwest Creations Collaborative who have a combined history of more than 55 years of developing community-centered solutions. 

The SEC will immediately employ more than 50 people on a family-friendly campus that includes nearly 20,000 square feet of commercial space. Services include a manufacturing facility operated by Southwest Creations Collaborative, childcare space for the employees within the SEC, a family/community engagement and training center, and educational support services for families.  

Notwithstanding the major challenges our organizations have experienced during the pandemic, both PCA and Southwest Creations Collaborative have continued their programs and services for families. The SEC will be an innovative model that serves the economic and social needs of the community during a time when economic security and family wellbeing is at the forefront of major policy decisions. We look forward to being a part of the solution for families in our community as we rise out of this pandemic.

The Social Enterprise Center is scheduled to open in the fall of 2021.

 

Feature photo: Construction begins on the Social Enterprise Center, located in the heart of the South Valley in Albuquerque, New Mexico.

August 20, 2020, Adrian, Michigan – Cynthia Curry Crim was named Vice Chair of the Adrian Dominican Sisters’ Portfolio Advisory Board (PAB). In this position, she will be working on the PAB’s executive team with Associate Dee Joyner, Director of Resilient Communities for the Congregation, and Sister Marilín Llanes, OP, Chair.

Established by the Adrian Dominican Sisters more than 40 years ago, the PAB helps the Congregation to use its resources justly, in ways that resonate with its mission. The Corporate Responsibility aspect focuses on using dialogue and shareholder resolutions to keep corporations accountable in areas such as the environment, treatment of workers, and responsibility to local communities. The Community Investment aspect offers low-interest loans to community-based enterprises that serve communities and people in need.

Now in her second year as a PAB member, Cynthia is excited to be serving on the executive team as Vice Chair. The executive team is involved in behind-the-scenes work and strategic planning – “a lot of planning to make sure that each time the PAB meets, we have a productive meeting,” she said. “We’re just trying to make sure that the Board members have the right information, to make the meetings more engaging.”

Cynthia said serving on the PAB fits right in with her work experience. From about 1993 to 1998, she worked in Chicago as director of nonprofit organizations. “All my work centered on family and children, but I also realized you have to look at housing, education, and health,” she said. She wanted to change focus, “not to leave the nonprofit community but I really wanted to see a bigger part of the work.”

Cynthia then served as Associate Executive Director of the Steans Family Foundation in Chicago. The Executive Director was “totally committed to the community and really believed in engaging community residents about the decisions that were going on,” Cynthia said. She compared this work to the Congregation’s focus on helping to form resilient communities in specific geographic areas of the country.

Cynthia and her family moved to St. Louis in 2002. After working for Nonprofit Services Consortium, an intermediary that collaborates with local nonprofit organizations, Cynthia was hired 15 years ago by Dee Joyner to work at Commerce Bank, managing part of its corporate foundation and two family foundations. 

Cynthia said Dee invited her to serve on the PAB. “I had known about her work with the Adrian Dominican Sisters while she was at Commerce,” Cynthia said. “She would talk about being on the PAB, but never in my wildest dreams did I think I would be asked [to serve on the Board].”

Working on the PAB has enhanced her knowledge. “What I have learned is that investment in the community can be direct or indirect,” she said. She sees the corporate responsibility aspect, and particularly shareholder advocacy, as having an indirect but profound effect on the community. 

“How many people in underserved communities have any idea of the impact that corporations have?” she asked. “So the work that the Sisters are doing – advocating that corporations look at what they’re doing in terms of how they’re polluting the environment – has a major impact on those who have no voice. That is a powerful tool to use.” 

Cynthia sees the work of community investment as being directly involved in the local communities. “I like that during this time of COVID and Black Lives Matter, I have really seen in our last meeting this commitment to walk the talk and try as best as possible to make a difference in the communities, making sure that people who are already struggling can somehow get some relief,” she said. “To be part of this is pretty special.”

By Robert Rudy

There was a time in the early 1990s, Alison Yonas recounts, that a rapid increase in the size of the Latino community in North Carolina was creating a serious crime problem for new immigrants. “Some newcomers were coming from places where people did not use financial institutions or feel comfortable doing so,” she said. “They were easy targets for robbery and home invasions.”

In 2000, as a grassroots response to crime against Latino immigrants, the Latino Community Credit Union was established to provide a safe place for the Latino immigrants to save money and become more comfortable with financial situations. Through the years, the credit union has received loans from both the Religious Communities Investment Fund (RCIF), directed by Adrian Dominican Sister Corinne Florek, OP, and the Adrian Dominican Sisters, through the Portfolio Advisory Board (PAB). 

The low-interest loans have helped the Latino Credit Union in its services to the local community. “When people come from countries where financial systems have failed or their experiences aren’t as strong, and you come to this country with issues of language and cultural concerns about entering a bank, it’s hard to feel comfortable,” said Alison, Vice Present of Development and Strategic Investments for the credit union.

Based in Durham, the Latino Credit Union now has 75,000 members in 12 branches throughout North Carolina. Alison said the credit union provides bilingual and bicultural services which do not require a credit history and are geared to be accessible to members – from starter accounts to checking accounts, IRAs to affordable mortgage loans.

RCIF has been involved with the Latino Credit Union since lending the organization $150,000 in 2010, Alison said. She explained that the relationship of RCIF and the credit union is an easy one because of the alignment of their missions and because “people with RCIF are leaders in socially responsible investing.”

The Latino Credit Union provides banking solutions and education through workshops on such topics as budgeting, saving, and credit. “The workshops are one of the most inspiring parts of the work that we do,” Alison said. “We have a graduation ceremony at the end of the workshops. For some of our members, it’s their first experience graduating.”

The credit union has also helped more than 2,300 “dreamers” – those who immigrated to the United States as children with their parents without formal papers – with a loan for the $465 application fee for the Deferred Action for Childhood Arrivals (DACA) program. The Latino Credit Union has provided more of these loans than any other country, Alison said.

Posted July 2018

Feature photo: The Latino Credit Union, organized into 12 branches in North Carolina, offers financial services to those who might not otherwise have access to those services. Photo Courtesy of Latino Credit Union