S moke S ignals
JULY 1, 2018
11
‘Your Money, Your Future’ to offer financial advice
By Dean Rhodes
Smoke Signals editor
An almost two-year effort by
the Confederated Tribes of Grand
Ronde to ascertain whether funds
provided to Tribal youth when they
turn 21 are fulfilling the goals set
forth when their programs were
created is reaching a concrete re-
sult.
“Your Money, Your Future,”
which will offer financial advice
to Tribal members young and old,
will be held from 5 to 7:30 p.m.
Thursday, July 12, in the Tribal
Community Center, 9615 Grand
Ronde Road.
Presentations by Oregon State
Credit Union and Baird Financial
Services will discuss how to han-
dle sudden financial windfalls and
there will be a question-and-answer
session about the Tribe’s Minors’
Trust Fund, classes for youth in
kindergarten through 12th grade,
and workshops for adults.
Organizers say they hope the
event will eventually be offered
monthly as it attempts to teach
financial literacy to Tribal and
community members.
“The hope is … raising the aware-
ness of financial literacy for the
membership especially geared
toward the Minors’ Trust accounts
and the age group between 18 and
25 for the folks who are going to be
receiving their initial per capita
payments, quarterly per capita
payments and then are eligible
for the Minors’ Trust money,” says
Education Department Manager
Leslie Riggs.
In late 2016, Tribal Council di-
rected General Manager David
Fullerton to review and report back
on whether the Tribal funds held in
trust for youth, colloquially known
collectively as “21 Money,” was
fulfilling its stated goal.
If you go
‘Your Money, Your Future’
When: 5-7:30 p.m. Thursday,
July 12
Where: Tribal Community Cen-
ter, 9615 Grand Ronde Road
More information: 503-879-
2276 or yourmoneyyourfu-
ture@grandronde.org.
More than 100 Tribal members
attended four community meetings
held in Grand Ronde, Portland,
Salem and Eugene in 2017 and
15 additional verbal and written
comments were received.
One of the common themes that
came out of those meetings was a
need to provide financial education
and planning assistance, as well as
better notice of the tax liabilities
that accompany withdrawing the
money from the trust funds.
The Tribe worked with ONABEN,
a national Native nonprofit based
in Portland, to create a program
to help Tribal members better un-
derstand financial management,
as well as how to grow their money
and build their assets if they so
choose.
Higher Education Manager Bry-
an Langley said the financial edu-
cation is aimed at young children,
those turning 21 and adults. ONA-
BEN contacted Oregon State Credit
Union because it already had creat-
ed a financial literacy curriculum.
According to an executive sum-
mary written by Planning Direc-
tor Rick George, current Tribal
members approaching 21 years of
age may receive $100,000 or more
depending on stock market perfor-
mance and the economy.
“We have been blessed as a Tribe
to be able to provide for our Tribal
members,” Tribal Chairwoman
Cheryle A. Kennedy said in a press
release announcing the kickoff
event. “Our goal with this program
is to provide them with the skills to
be financially independent through
sound financial planning.
“As a Tribe, we strive to provide
our Tribal membership with the
tools to succeed in life. Our hope
is that our latest program, ‘Your
Money, Your Life,’ will give Tribal
members a strong foundation in
money management and the con-
fidence to make sound financial
investments for their future.”
The Minors’ Trust programs were
created by Tribal Council in 1996
to collect and invest timber revenue
funds for Tribal youth. In 1999, the
Gaming Revenue Allocation Plan
started collecting gaming per capita
payments as well. The funds are
held in trust and managed by a pro-
fessional, independent third-party
administrator until Tribal mem-
bers turn 21.
At 21, Tribal members can either
withdraw the money or transfer it
into the Adult Savings Plan, which
also is managed as part of the
Tribe’s overall portfolio.
Since the programs’ inception
through 2016, the Tribe has con-
tributed $152.4 million to the trust
funds and approximately $72.3
million has been withdrawn.
The stated goal is to provide
financial assistance to Tribal mem-
bers with expenses such as college,
careers, home buying and family,
but stories of young Tribal mem-
bers receiving the sudden financial
windfall and blowing it on drugs,
parties and cars have circulated
within the community for years.
However, Riggs said, through
the community meetings there are
also stories of success with Tribal
youth using their funds to purchase
a car for needed transportation or
pay for uncovered post-secondary
educational costs.
“We’re trying to find those positive
role models and trying to highlight
those individuals,” Langley said.
The “Your Money, Your Future”
event is a collaborative effort that
has involved staff from the Plan-
ning, Education, Social Services,
Housing and Member Services de-
partments. Dinner will be provided
and T-shirts will be given away
while supplies last.
“We’re not really trying to tell
kids what to do with their money,”
Langley said. “We’re just trying to
give them the information so they
can make an educated decision on
what they are going to do with the
money. … That’s what the title is,
‘Your Money, Your Future.’ ”
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