Few studies test whether religious affiliation affects ethnic self-stigma in minority populations, and no studies test whether ethnic self-stigma mediates the relation between religious affiliation and economic behaviors or outcomes. Many Quichua living in Quito, Ecuador identify with Pentecostalism, which anecdotally is reported to transform identity and economic outcomes; but it is unknown whether this pattern of results is widespread. Data were collected from Quichua (N ϭ 285) who identified as Pentecostal, Catholic, or nonreligious. Using path analysis, we found Catholics and Pentecostals were less likely to report ethnic self-stigma than the nonreligious; stigma mediated the role of religious identification on a positive evaluation of the economic future. Protestants were more likely than Catholics and the nonreligious to have a bank account. The absence of self-stigma was associated with greater rates of banking, which predicted both satisfaction with the economic present and a positive evaluation of the economic future.