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April 1, 2019, Adrian, Michigan – In his 2018 book, Democratizing Finance: Origins of the Community Development Financial Institutions Movement, Clifford N. Rosenthal makes references to the key role Adrian Dominican Sisters played in the Community Development Financial Institutions (CDFI) movement – and in bringing the Sisters’ social justice focus to finance.
The author notes the Congregation’s establishment in 1974 of the Portfolio Advisory Board (PAB), which, rooted in Catholic social justice teachings, brings social justice to finance through shareholder advocacy with corporations and community investment (page 73).
He also cites the Congregation’s “leading role among faith-based community investors” when, in 1982, it awarded a $30,000 low-interest loan to the National Federation of Community Development Credit Unions (CDCU). He notes that, of all community investors, “the Adrian Dominicans were distinguished by their strong engagement: they wanted to see the impact of their investment first-hand, and where needed, to try to help out with workouts when organizations ran into trouble” (pp. 121-122).
Finally, he cites the recent critique of CDFIs by Adrian Dominican Sister Corinne Florek, OP, consultant to the PAB and Director of the Religious Communities Investment Fund and the Mercy Partnership Fund. Sister Corinne has called on CDFIs to remember their original purpose, to grant loans to community organizations seen as too risky for commercial banks, and not to get side-tracked by focusing on the strength of their own financial performance.
For more information on the Adrian Dominican Sisters’ efforts in corporate responsibility and community investment, visit the PAB website.
March 8, 2019, Adrian, Michigan – Kathleen Woods, Chair of the Adrian Dominican Sisters’ Portfolio Advisory Board (PAB), was formally accepted as an Adrian Dominican Associate March 1, 2019, during a festive afternoon. The Ritual of Acceptance was preceded by a 45-minute concert by pianist Timothy Hollinsead, husband of PAB member Leslie Watson-Hollinsead. The event was sponsored by the PAB.
Initiated by the Adrian Dominican Sisters more than 40 years ago, the PAB helps the Congregation to live out its social justice commitment through its use of funds.
Acknowledging the blessing of the concert, Associate Mary Lach, Director of Associate Life, welcomed the assembly of PAB members, Adrian Dominican Associates and Sisters, and friends to Holy Rosary Chapel on the Congregation’s Motherhouse Campus.
“Kathy believes that she has Dominican in her DNA,” said Associate Dee Joyner, who with PAB member Rosemary Martin mentored Kathleen Woods. Rosemary was unable to attend the event. “We suggested that the ‘D’ in DNA stands for Dominican,” Dee added.
An Adrian Dominican Sister from 1962 to 1977, Kathy first became a member of the PAB in 1975. “With a master’s degree in social work, Kathy has brought to the PAB her vast experience as a clinical social worker and significant leadership experience,” Dee said. “It was the Dominican in Kathy that reached out years ago” to meet the needs of the dying and their families in Chicago. As Director of Home Health and Hospice for Mount Sinai Hospital in Chicago, Kathleen was responsible for developing the first inpatient hospice facility in Illinois, Dee said.
In accepting the invitation to be named and known as an Adrian Dominican Associate, Kathleen said she had always felt welcomed by the Adrian Dominican Sisters after she formally left the Congregation. She said she nurtured “deep relationships which resulted from a shared purpose, meaning, and commitment. … After the last six years on the PAB, it seems to me to be a very natural extension to continue to be involved … and to join in shaping the future of Dominican life.”
The Ritual of Acceptance continued with the signing of the Agreement of Association, a formal document that states the new Associate’s willingness to enter into a relationship with the Adrian Dominican Sisters and to support and participate in the Congregation’s Mission. Dee then presented Kathy with the Associate Life Logo, and the assembly proclaimed the Vision of the Adrian Dominican Sisters.
The commitment of Kathy and all Associates continues until the 2022 General Chapter of the Adrian Dominican Sisters, after which the Associates can choose to renew their commitment.
Associates – women and men at least 18 years of age – make a non-vowed commitment to partner with the Adrian Dominican Sisters, living out the Congregation’s Mission and Vision in their independent lives and sharing in the Sisters’ spiritual, ministerial, and social experiences.
For more information on becoming an Associate, contact Mary Lach, Director of Associate Life, at 517-266-3531 or mlach@adriandominicans.org. If you are a single Catholic woman interested in religious life – or know of a young Catholic woman who is – contact Sister Tarianne DeYonker, OP, at 517-266-3532 or tdeyonker@adriandominicans.org or Sister Mariane Fahlman, OP, a 517-266-3537 or mfahlman@adriandominicans.org.
Feature photo (top): Associates Dee Joyner, left, and Kathleen Woods are all smiles after Kathleen was formally accepted into Associate Life March 1, 2019.
Associate Dee Joyner pins the Associate logo on the shirt of Kathleen Woods.