The board of directors of First Nations Development Institute (FNDI) announced today that Tracey Fischer has stepped down as executive director of First Nations Oweesta Corporation (FNOC), effective immediately. Michael E. Roberts, president of FNOC's parent company First Nations Development Institute, will oversee the operations of FNOC to ensure organizational continuity, effective immediately. FNOC serves as a wholly-owned subsidiary of First Nations Development Institute.
In 1999, the board of directors for FNDI incorporated First Nations Oweesta Corporation with First Nations Development Institute as the sole member owner. In addition to helping First Nations Oweesta to quickly grow, the board of First Nations Development Institute transferred to FNOC a pool of resources from socially responsible lenders that guaranteed $1 million in program-related investment, which still represents the majority of First Nations Oweesta Corporation's capital lending pool today. First Nations Development Institute has helped FNOC to become the leading organization focused on Community Development Fund Institutions (CDFI's) in Indian Country.
First Nations Development Institute's board of directors will commence a search for a new executive director of First Nations Oweesta Corporation immediately. FNDI does not expect to make any additional structural and/or managerial leadership changes at this time.
With Michael E. Roberts overseeing the operations of FNOC, this will ensure a successful leadership transition and Indian Country will continue to benefit from the resources and programs provided by FNDI and FNOC as its wholly-owned subsidiary. Roberts is currently a member of First Nations' board of directors, is a founding board member and past chairman of First Nations Oweesta Corporation, and serves on the grants review committee of First Nations' Eagle Staff Fund. His experience includes serving on advisory committees for the Lakota Fund, Indian Country's first community development financial institution. Roberts has an MBA from the University of Washington with an emphasis in finance and operations management, and a bachelor's in environmental design degree in architecture from the University of Colorado.
"I am dedicated and committed to leading First Nations Development Institute and First Nations Oweesta Corporation in a new strategic direction," said Roberts. Roberts also shared, "First Nations Development Institute is focused on selecting a new executive director for First Nations Oweesta Corporation to continue our important work together in strengthening Native American economies."