Yänonhchia’ aims to maximize and strengthen the existing network of Indigenous financial institutions.
Providing affordable capital to lenders
What sets Yänonhchia’ apart is its provision of loans to its network of lenders at accessible and affordable rates. In other words, Yänonhchia’ takes on the risk on behalf of the lenders.
Supporting the implementation of its partners’ programs and their loan portfolios
We aim to encourage an approach that enables our member partners to become fully autonomous by developing their own programs. That’s why Yänonhchia’ offers to train its members’ teams and provide them with concrete tools.
Providing a toolbox for financial literacy
In addition to helping partner members, Yänonhchia’ aims to create a customized toolbox for borrowers.
This includes guides to:
- Improving credit scores
- Understanding income needs
- Managing a budget
- Forecasting the life cycle of a home
- Managing personal finances
Members
Yänonhchia’ calls for the implementation of an institutional response designed, led, and managed by First Nation to address the First Nation housing finance crisis.
Yänonhchia’ draws on the expertise and experience of the Aboriginal Savings Corporation of Canada (ABSCAN), NACCA (National Aboriginal Capital Corporation Association) and the network of Indigenous Financial Institutions (“IFI”) across the country.
Investments will primarily target the IFI network with the goal of respecting and recognizing the unique realities of the various First Nation communities across Canada, thereby fostering an appropriate and respectful regional approach.
For more details on the accreditation process, please contact the Yänonhchia’ team.
Accreditation eligibility and process
The only organizations eligible to be accredited as members in accordance with the articles of incorporation of Yänonhchia’ are:
– IFIs that are part of the NACCA national network
– Entities directly affiliated with IFIs (such as ABSCAN with SOCCA)
– First Nation revolving housing loan funds independent of band councils.
All other types of organizations, subject to the discretionary power of the Corporation’s Board of Directors, are considered to be ineligible for accreditation.
Accreditation eligibility criteria
To be admitted as a member, an eligible organization must:
– Demonstrate good governance and the expertise of its management team;
– Demonstrate financial strength, sound financial management practices and an ability to honor obligations as a borrower and lender;
– Provide details on its lending policies and procedures;
– Demonstrate the financial performance of its loan portfolio.
Discover the origins of this successful first nations exit strategy to the housing crisis.
