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Overview Informa/on about the Oklahoma Na/ve Assets Coali/on (ONAC) and Updates from the Past Year

Prepared by Christy Finsel

ONAC Coordinator July 15, 2014


What is the Oklahoma Na/ve Assets Coali/on (ONAC)?

ONAC represents a consor/um of Oklahoma tribes and partners interested in establishing asset-‐building ini/a/ves and programs in Na/ve communi/es.

Oklahoma Na/ve Assets Coali/on 2


When We Talk About Assets, What Do We Mean?

•  Na/ve communi/es may think about assets broadly. Assets are not just money. Assets can be thought of as what we value-‐kinship, family, natural resources, community, language, sovereignty, spirituality, educa/on, etc.



Na/ve Asset Building with ONAC Cons/tuents

•  We believe that tribes have been building assets for genera/ons. This is not new to us.

•  What is new to some Na/ve communi/es is the informa/on about mainstream asset building programs and how to design customized programs that meet the needs of our tribal ci/zens.



When We Men/on Na/ve Asset Building Programs In Oklahoma, What Are We Talking About?

•  Na/ve financial educa/on programs

•  Voluntary Income Tax Assistance sites •  Credit builder programs •  Na/ve small business resources

•  Homeownership assistance programs •  Children’s Savings Account programs •  Na/ve Individual Development Account programs

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What Are Some of the Purposes of Asset Building

Programs?

•  Asset building programs can help individuals, families, and communi/es to: – Plug their leaking economies

–  Increase their financial literacy – Pass along intergenera/onal assets such as land – Change savings habits – Think about their future differently

Con/nued, next slide



What Are Some of the Purposes of Asset Building

Programs?

– Purchase assets such as homes, post-‐secondary educa/on, dance regalia, etc.

– Repair and build credit – Hold land in common

– Teach tribal history, values, and language, etc.



Example of Na/ve Asset Building and a Cultural Fit

•  Choctaw Na/on IDA Program (a matched savings account program with a 2 to 1 match for small business).

•  Kaben Smallwood, IDA graduate and Choctaw Na/on ci/zen, runs an aquaponics business that has a social entrepreneurship bent. He works with his brother and another colleague in the Kiowa Public Schools and grow produce and raise fish with the students. The students then eat the produce in their school cafeteria.



Example of Na/ve Asset Building and a Cultural Fit

•  Symbio/c Aquaponics is also now working with Eastern Oklahoma State College with a farm to school program.



ONAC’s Involvement with Na/ve Asset Building in

Oklahoma What ONAC Provides Cons/tuents: •  Asset building resources, models, and strategies

•  An Oklahoma Na/ve Assets Coali/on Conference to be held annually

•  A forum to talk about any tribal, local, state, or federal asset building policies

•  Opportuni/es to connect to Na/ve and non-‐Na/ve asset building prac//oners in Oklahoma and around the country, for partnership



What ONAC Provides Cons/tuents:

•  Outreach to Oklahoma tribal leaders, tribal government programs, and other Oklahoma-‐based Na/ve organiza/ons/businesses to provide informa/on about asset building

•  Training and technical assistance for those wan/ng to design and implement asset building programs

•  Mini grants for Na/ve asset building projects



History of ONAC

In 2001, a mee/ng supported by First Na/ons Development Ins/tute (FNDI) was held to determine interest in the development of an intertribal consor/um or coali/on of tribes having ini/ated (or about to ini/ate) asset-‐building programs.



History of ONAC Con/nued

It took un/l 2007 for a group of tribal representa/ves to meet, at the Cherokee Casino and Resort in Tulsa, agreeing to become an organized Na/ve-‐focused asset-‐building group, along the lines of those developed in some other states.



History of ONAC Con/nued

•  ONAC has con/nued forward from that 2007 mee/ng with support from Leadership Team members. We later received funding from the Ford Founda/on (Building Economic Security Over A Life/me-‐one of eight states receiving such funding).

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•  There is another asset building coali/on in Oklahoma that is also funded by the Ford Founda/on, the Oklahoma Assets Network.

•  We represent ONAC on their Leadership Team to share informa/on about the Na/ve asset building work we are doing in Oklahoma.

•  The Oklahoma Assets Network is serving non-‐Na/ve popula/ons in the state as we work together to close the racial wealth gap.


ONAC Leadership

•  We have one paid consultant, Christy Finsel (Enrolled Tribal Member of the Osage Nation of Oklahoma), who coordinates ONAC (started in September 2011).

•  We also have a volunteer ONAC Advisory Committee and we’ve organized a board (pending 501(c)(3) approval), comprised of other Native asset building practitioners in the state.

•  ONAC welcomes your expertise and participation.



ONAC Advisory CommiXee

– Kris/ Coker, Na/ve CDFI Consultant – Ed Shaw, Osage Financial Resources, Inc. – Cindy Logsdon, Ci/zen Potawatomi CDC – Shay Smith, Cherokee Na/on of Oklahoma


ONAC Board

– Anna Knight, Cherokee Na/on of Oklahoma

– Dawn Hix, Choctaw Na/on – Mary Elizabeth Rickeds, Osage, Re/red – Amber Fite-‐Morgan, Northeastern State University

– Christy Finsel, ONAC Execu/ve Director



ONAC’s Target Cons/tuents:

•  39 tribes in Oklahoma and their ci/zens •  Tribal leaders •  Tribal government program directors and staff

•  Na/ve nonprofits •  Asset-‐building prac//oners •  Local, county, state and federal programs that serve the tribes of Oklahoma



Cons/tuent Snapshot

•  Cons/tuents range from tribal leaders, tribal program directors, Na/ve-‐owned banks, Na/ve Child Support Directors, to those from the Na/ve Caucus, American Indian Chamber of Commerce, FDIC, HUD, IRS, Office of the Special Trustee, FNDI, Consumer Financial Protec/on Bureau, SBA, the Federal Reserve Bank, Extension, Community Ac/on Agencies, CFED, State Treasurer’s office, Administra/on for Children and Families, Na/ve nonprofits, etc. who are working with us to increase Na/ve asset building programs in the state.

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Work Highlights in 2014

•  ONAC was approached by a founda/on regarding an applica/on to support ONAC and Na/ve Children’s Savings Account pilot programs, January 2014.

•  Communicated with several ONAC cons/tuents about partnering with ONAC on pilot CSAs, February 2014. ONAC applied for tax-‐exempt status, April 2014.




•  Worked with First Na/ons to award four ONAC mini grants, March 2014.

•  Adended an Asset Funders Tax Policy Advisory Group mee/ng to share informa/on about Na/ve CSA policy recommenda/ons, March 2014.

•  Prepared a document no/ng Na/ve Child Support Program CSA op/ons in OK.




•  Prepared a document no/ng info about the ONAC CSA Campaign.

•  Posted an ACCESS partner profile on our website highligh/ng ONAC and Na/ve asset building and cultural fit.

•  With our cons/tuents, shared info about the D2D Fund Save Your Refund program and info on the Center on Budget and Policy Priori/es EIC and CTC outreach.



Work Highlights 2014

•  Shared info about ONAC on the Experts of Color Network conference calls and adended their conference in May 2014.

•  Represented ONAC and facilitated a Na/ve CSA roundtable at the CFED CSA Conference, April 2014.

•  Adended the Ford Founda/on grantee mee/ng with Ed Shaw, ONAC Advisory Commidee Member, May 2014.



Work Highlights 2014

•  Represented ONAC at the Gathering of Leaders mee/ng, June 2014. This work is focused on boys and men of color. There is also a White House Council on Women and Girls. We will track if there are funding sources that may be reallocated for My Brother’s Keeper. You can self-‐report your programs at www.whitehouse.gov/my-‐brothers-‐keeper.



Na/ve Children’s Savings Account (CSA) Programs

ONAC CSA Overview, CSA Campaign, and Program Design Resources

Christy Finsel ONAC Coordinator

2014 ONAC Conference July 15, 2014

Copyright 2013 Christy Finsel All Rights Reserved. The use and duplica/on of these materials requires permission from

Christy Finsel unless otherwise iden/fied.


What Is A Children’s Savings Account?

•  One tool in the asset building toolbox is a Children’s Savings Account (CSAs).

•  CSAs help youth build a nest egg of savings.

•  CSA participants generally receive financial education as part of their participation in the program.


Varia/ons Among CSA Programs

•  CSAs, also known as Child Development Accounts, can be matched savings accounts, though some organizations that are designing CSAs do not provide a match to participant savings but instead either offer an opening deposit or set up accounts where youth can deposit money into accounts on their own, thereby helping the youth get banked.

•  Some CSA programs do not stipulate which assets the participant must purchase with their CSA funds. Other programs have determined that they want CSAs to be used by the participant to purchase a small business, home, or education, or to pay for medical expenses, school supplies, or retirement. Some CSAs just promote savings.

•  There are a variety of CSA programs being designed and implemented nationally.

•  There is no one right way to establish a CSA-you can create a CSA program to meet local needs.


For those advoca/ng for accounts for all youth, they can describe CSAs as “universal, long-‐term asset-‐building accounts established for children as early as birth and allowed to grow over their life/me. In their ideal form, accounts are seeded with an ini/al deposit of $500 to $1,000, and built by contribu/ons from family, friends and the children themselves. In addi/on, accounts are augmented by savings matches and other incen/ves.”

Source: CFED, Why Children’s Development Accounts? Arguments and Evidence to Support Long-‐Term Asset Building Accounts for America’s Youth, August 2008.


Why Develop CSAs? Savings Can Change How Youth

Think About Their Future

“Youth who expect to graduate from a four-‐year college and have designated a por/on of their savings for college are approximately four /mes more likely to adend college than youth who have no account.”

“Youth who expect to graduate from a four-‐year college and have an account are approximately seven /mes more likely to adend college than youth who have no account.”

Elliod, W., & Beverly, S. (2010). The role of savings and wealth in reducing “wilt” between expectaHons and college aIendance (CSD Working Paper 10-‐01). St. Louis, MO : Washington University, Center for Social Development.


CSA Models Na/onally

•  Kindergarten to College, San Francisco •  Mississippi Community Financial Access Coali/on •  Heartland Alliance for Human Needs and Human Rights in Illinois •  Raise Texas Child Support for College •  SEED for Oklahoma Kids Ini/a/ve •  There was a school-‐based pilot, 2003-‐2007, in the University City

Public Schools with other St. Louis, Missouri, based partners. See the Center for Social Development and the University of Kansas paper, ContribuHons of QualitaHve Research to Understanding Saving Theory for Children and Youth, 2012, hdp://csd.wustl.edu/Publica/ons/Documents/WP12-‐23.pdf.

•  De La Salle Middle School, St. Louis

Click to edit Master /tle style Child Support-‐Related CSA

•  The Kansas child support agency is partnering with the state treasurer to reward noncustodial parents who owe state child support debt and who save funds for their child’s college educa/on through the Kansas 529 program.

•  The noncustodial parents who par/cipate and make qualifying deposits will receive debt forgiveness on a ra/o of 2:1 for every dollar deposited.

•  As the Region VII AFI Regional Consultant for the ASSET Ini/a/ve, Christy Finsel, on a separate consultant contract, provided technical assistance (TA) for this project in Kansas.

•  A tribe managing their own child support program could create a similar program. ONAC is available to provide TA to tribes interested in designing such a CSA.


Other Models for Na/ve CSA Programs

•  Examples of how Na/ve CSAs may be offered: –  to 350 tribal members on a first-‐come, first-‐served basis

–  to all youth in a Na/ve financial educa/on course –  to the children of college-‐aged interns enrolled in an Individual Development Account program

–  to all kindergarten to 3rd graders enrolled in a Na/ve language immersion school



Na/ve CSAs Na/onally (List contains programs in development and those

programs which are ac/ve or have completed a pilot phase)

•  Lakota Funds

•  Midwest Minnesota Community Development Corpora/on/White Earth Investment Ini/a/ve

•  MA’O Farm

•  Hawai’i County Department of Research and Development and Hawai’i Alliance for Community Based Economic Development (HACBED) and three other projects in HI.

•  Cherokee Na/on-‐involved as pilot site for SEED for Oklahoma Kids Ini/a/ve

•  First Na/ons Development Ins/tute, McKinley County, New Mexico

•  Meskwaki Na/on

•  Sequoyah Fund Kituwah Children’s Savings Program

•  Na/ve American Community Development Corpora/on •  Wichita and Affiliated Tribes


CSA Funding Sources

•  Founda/ons

•  Tribal funds

•  First Na/ons Development Ins/tute Youth and Culture Funds (could fund Na/ve CSAs)

•  Local governments (i.e. City of San Francisco) •  Private funds

•  Parent/family (i.e. grandparent) contribu/ons

•  Youth contribu/ons

•  Financial ins/tu/ons

•  Other sources?


Various Ways to Hold CSA Accounts

•  CSAs can be held in a custodial savings account at a financial ins/tu/on

•  They can also be held through a 529 college savings plan

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ONAC CSA Campaign

Since 2012, ONAC has been laying the groundwork for a Children’s Savings Account (CSA) campaign. Such background work is necessary to clear barriers for program implementa/on and to raise funds for pilot Na/ve CSA programs. ONAC has engaged in the following CSA campaign ac/vi/es:



ONAC CSA Campaign

•  Genera/ng Na/ve Children’s Savings Account background materials for our cons/tuents;

•  Sharing informa/on about CSAs at our annual 2012 and 2013 conferences;

•  Reques/ng and receiving administra/ve policy guidance regarding Tribal TANF and CSA par/cipa/on;



ONAC CSA Campaign

•  Talking with an Oklahoma State Treasurer’s Office staff person and TIAA-‐CREF (they administer OK 529 accounts) about ways to streamline a process of deposi/ng money into CSA accounts held through the 529 plan;



ONAC CSA Campaign

•  Having conversa/ons with non-‐Na/ve asset building organiza/ons na/onally to let them know that Na/ve CSA programs exist and that they have mul/ple innova/ons that other CSA programs, ci/es, and states could learn from as they explore and implement CSA pilots;



ONAC CSA Campaign

•  Having conversa/ons with tribal child support directors in the state about CSAs to determine their interest in administering such programs, with or without a private arrears forgiveness program component;

•  Talking with other ONAC cons/tuents about their interest in administering CSAs, if funding were available;



ONAC CSA Campaign

•  Genera/ng policy priori/es that we are vepng with other Na/ve CSA program administrators na/onally;

•  Working with First Na/ons to award a mini grant to the Wichita and Affiliated Tribes, in March 2014, to fund their SummerSmart: Wichita Summer Youth Program, which includes a Children’s Savings Program; and

•  Ac/vely working to fund addi/onal pilot Na/ve CSA programs in Oklahoma.



CSA Resources

•  If you are interested in CSA peer learning calls, contact Christy Finsel, (405) 401-‐7873.

•  ONAC is available to provide free CSA training and technical assistance to tribes and Na/ve nonprofits in Oklahoma. We can help you design and implement a program.

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ONAC: Upcoming Plans

•  Working with ONAC mini grant awardees (ongoing through grant period).

•  Fundraising for ONAC, mini grants, and pilot Children’s Savings Account programs (ongoing).

•  Working with the Consumer Financial Protec/on Bureau to share informa/on with you about training for their Your Money, Your Goals toolkit for social service providers.



We Welcome Your Involvement

• Join our listserv • Par/cipate in upcoming events

• ONAC membership

• Assist with networking/peer learning • We will share informa/on about your upcoming asset building events relevant to Na/ve communi/es in the state and region.



For Further Informa/on About ONAC:

•  Please contact Christy Finsel, ONAC Coordinator, at cfinsel@okna/veassets.org or at (405) 401-‐7873.
