NEW YORK–Inclusiv is reporting the Adrian Dominican Sisters have become investors in Cooperativa de Ahorro y Crédito Jesús Obrero (“Jesús Obrero”) a community development financial institution (CDFI) cooperativa advancing the economic well-being of communities in Guaynabo, Puerto Rico.
“Rican cooperativas have been at the forefront of Hurricane Maria recovery efforts and initiatives to revitalize local economies across the Island,” Inclusiv said. “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.”
Replicating the Model
According to Inclusiv, Adrian Dominican Sisters are 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,” the organization said, adding the investment represents the latest impact initiative added to the 42-year partnership between Inclusiv and the Adrian Dominican Sisters.
‘Catalytic Partners’
“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 Inclusiv President/CEO Cathie Mahon. “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.”
‘Rejoice in Partnership’
Added Sister Marilín M. Llanes, director of the Portfolio Advisory Office with the Adrian Dominican Sisters, “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 to be pathways bringing about economic opportunities for the struggling but resilient communities in Puerto Rico.”