The Osage Nation Community Development Financial Institution (CDFI) Board now has two new members following confirmation votes by the Eighth ON Congress.
Businesswoman Penelope “Penney” Johnson and former ON Congressman John Jech – who also served as the first Treasurer for the Nation’s reformed government – received unanimous confirmation votes during the 2024 Hun-Kah Session. Both took their oaths of office on May 1 at the ON Courthouse with Associate Trial Court Judge Lee Stout presiding.
The five-member CDFI board is overseeing further development of the Nation’s financial institution known as “The Place to Borrow Money” Lending (PBM) located in the former First National Bank building along Pawhuska’s Main Street.
Johnson and Jech’s appointments by Principal Chief Geoffrey Standing Bear received initial consideration by the Congressional Commerce, Gaming and Land Committee before the confirmation vote. Both went through the appointee vetting process per Congressional rules before the final votes.
At the committee meeting, Congressional Speaker Alice Goodfox said she and former Congresswoman Angela Pratt knew Johnson since childhood and added that Johnson is Otoe-Missouria, has prior banking experience, as well as owns a small business.
“Angela and I can always speak to her ethics, she is a very ethical hard worker… we could really use her and she will be a wonderful asset to this board,” Goodfox said of Johnson.
According to a statement by Wahzhazhe Communications, Johnson has nearly 20 years of entrepreneurial and management experience. She currently owns Lucky Penney Dry Cleaners in Skiatook. Beginning her career as a bank teller in Barnsdall, Johnson went on to serve as Assistant Vice President for American Heritage Bank in Cleveland and served as Branch Manager of the Barnsdall location, bringing 15 plus years of banking experience with her.
Jech’s appointment did not receive much discussion and he was deemed “qualified by education and experience” as was Johnson’s appointment and they received unanimous votes by the committee. Next, the two appointees received votes to be considered for confirmation and the final votes were 12-0 for both.
According to the statement, Jech is a CPA who owns a business offering tax planning and preparation, consulting services, bookkeeping, auditing, and small business accounting. Jech was elected to the Third ON Congress in 2012 and served a four-year term. During his Congressional tenure, Jech served as Chair of the Governmental Operations Committee as well as the Appropriations Committee. He was Chief Financial Officer/ Treasurer for the Nation from 2005 to 2010 and Controller from 1996 to 2005.
Johnson and Jech are now serving with CDFI board members including former Assistant Principal Chief Raymond Red Corn, Steven Blue and Micah Boulanger.
About PBM Lending
PBM Lending was created by Osage law and is funded by the Native American Community Assistance (NACA) grant from the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund and appropriations from the ON Congress. PBM Lending is implemented through the consistent effort of the CDFI Board of Directors and PBM employees.
PBM Lending is both a nonprofit and public purpose corporation organized under Osage law. The Osage Nation is the sole member of PBM Lending as a corporation. PBM Lending is tax-exempt and welcomes year-end giving. PBM Lending plans to promote new products and programs such as small business lending, agribusiness lending, consumer lending, and home improvement loans. PBM Lending also offers training courses.
For more information, call (918) 287-0001 or email Info@PBMLending.com. Check out their website at: www.pbmlending.com
