b'MEMBER TRIBUTEnon-profit organization committed to a Creating systems-change approach to Indige-nous housing self-sufficiency.ABSCAN collects savings from individ-Community ual First Nations members and insti-tutional investors as per Autorit des marchs financiers du Qubec (AMF) Change regulations, and then invests these savings into the First Nations Housing Program, amongst other programs. ABSCAN recognizes five dimensions By Bryan Hansen of change, which include affirming values in housing self-sufficiency, Paying tribute to repaired roles and incentives that empower responsibility, access to long-serving networkfair and affordable capital for housing loans, appropriate land regimes and member Jean Vincent housing prices, and growing synergies between health, safety and prosperity. J ean Vincent is a founding memberNACCA in 1997, and 26 years later,ABSCAN assists partner First Na-and current chairperson for thethe network is one of the major andtions Councils and change leaders by National Aboriginal Capital Corpo- most successful achievements that wesharing ideas, tools and best practices rations Association (NACCA) Boardhave seen in the Indigenous world indeveloped in other nations, and works of Directors. A member and formerprevious decades. with families and early adopters to Chief of the Huron-Wendat Nation,develop housing and financial literacy Vincent has made strong contributionsWe knew there was a need, but itin Indigenous communities.not only in his home community ofwould be hard to imagine that 25 years later we would see so muchMore than ever, Indigenous entrepre-Wendake, Qubec, but also in manysuccess, he adds.neurs are still facing many constraints other national boards and organiza- that prevent access [to capital], tions including market-based housingSince its inception, SOCCA has seen[including] the Indian Act, the remote-initiatives and the Indigenous Growthits fair share of challenges in their field.ness of many communities and vari-Fund. Vincent is the former presidentPart of SOCCAs success is in its inno- ous cultural challenges, Vincent says. and director general of Socit devative ability to adapt, problem solveFrom a modern perspective, Indig-Crdit Commercial Autochtone (SOC- and discover collaborative synergiesenous entrepreneurs remain a major CA), an Indigenous Financial Institu- between organizations. Entrepre- key to improve the socioeconomic tion (IFI) with a long-standing historyneurs need loans, but also have equityconditions in our communities. of success and a strong reputation forproblems, says Vincent. In response innovation. Vincent has been directlyto that, we created the First NationsWhen asked about other challenges involved with the IFI network sinceVenture Capital of Qubec (FNVC) tofaced by Indigenous entrepreneurs, 1992, but his career in Indigenousprovide Indigenous entrepreneurs withVincent explains, Running a business economic development spans moremore equity to put into their projects.in northern communities or remote ar-than 40 years. Given that SOCCA was successful,eas can be difficult. In addition to the SOCCA was one of six Aboriginalwe created ABSCAN (the Aboriginalconstraints I mentioned earlier, em-Capital Corporations (ACCs)nowSavings Corporation of Canada), aployee training, access to information known as IFIsthat successfullysister company with the capacity totechnology and transportation costs advocated for Indigenous economicissue corporate bonds in order to pro- are all very prominent constraints.development when the federal gov- vide SOCCA with additional capital toNational recognition and the adoption ernment sought to devolve the ACCmake more loans, Vincent continues.of integral Indigenous legislation and program in the mid 1990s. This led toThis effort produced massive results.calls to action have played a large role the formation of NACCA in 1997, withOver the last 30 years, SOCCA hasin the continued well-being of Indige-Vincent as one of five members of themade loans valued at $100 millionnous access to capital. UNDRIPinitial working group that developedto more than 800 businesses. We(the United Nations Declaration on a business plan to meet the diverseare very proud about what we havethe Rights of Indigenous Peoples) regional needs of the new nationalaccomplished so far and what [we]and TRC (the Truth and Reconciliation Indigenous association. continue to accomplish to this day,Commission of Canada) both clearly According to Vincent, his proudestand [we] are very optimistic about mentioned that capital was an essen-accomplishment was the creationthe future. tial element of reconciliation with the of SOCCA in 1992. It opened theSince then, Vincent has contributedrest of Canada, says Vincent. Thats door to so many other initiativesto the IFI network in a leadership rolethe reason why we will have this [con-afterwards, he explains. Im oneat every level, including president,tinued] passion to supportof the founders who formally set upCEO and chairperson of ABSCAN, aour entrepreneurs.10INDIGENOUS PROSPERITYIssue #1, 2023'