Cathie Mahon to Head New Office of Financial Empowerment

(February 27, 2007 – New York, NY)  The New York City Department of Consumer Affairs (DCA) Commissioner Jonathan Mintz recently announced the appointment of Cathie Mahon, a former employee of the National Federation of Community Development Credit Unions (the Federation), as Assistant Commissioner and Executive Director of the newly-created Office of Financial Empowerment (OFE), the first program to be implemented based on recommendations from the Commission on Economic Opportunity and Mayor Bloomberg’s aggressive efforts to fight poverty in New York City.  OFE is the first local government initiative in the nation with a mission aimed expressly at helping to educate, empower, and protect those with low incomes so they can build assets and make the most of their financial resources.

Mahon, a well-known and respected CDCU advocate, began her career with the Federation shortly after receiving her graduate degree in City Planning from the Massachusetts Institute of Technology.

“Cathie came to the Federation nearly a decade ago to work on our New York State CDFI program, which is on the verge of finally passing the legislature this year,” explained the Federation’s Executive Director Cliff Rosenthal. “Throughout the years Cathie has continued to work with us extensively as a senior consultant on a variety of projects.” he added. 

Most recently Mahon had been working with the Federation to provide technical assistance to Weed & Seed sites, a program of the Department of Justice, where she assisted the sites develop Individual Development Account programs to promote homeownership in low-income and at-risk communities.

“Cathie’s extensive knowledge and commitment to community development and asset-building make her uniquely suited to head the Mayor’s new office,” added Rosenthal.  “Cathie brings with her a wealth of contacts in the field, making her an ideal public official and the Federation wishes her all the best in this new capacity.”

In addition to her work at the Federation, Ms. Mahon has directed the Asset Funders Network, a network of grant makers dedicated to helping individuals and families with low incomes build assets.  She has worked as a private consultant for high-profile policy and research organizations such as the Aspen Institute in Washington D.C., as well as grassroots community organizations and government agencies, U.S. Department of Health and Human Services, and the Neighborhood Economic Development Advocacy Project, among others. Notably, Ms. Mahon has designed and implemented intensive training programs. Her published reports include topics on micro credit in international communities, predatory lending and homeownership, the use of technology to grow services in community-based financial institutions, and more.   

Mahon has also served on the Boards of various CDCUs, including Transfiguration Parish FCU in Brooklyn, NY and the Lower East Side People’s FCU in Manhattan, the largest CDCU in New York City.

Ms. Mahon earned her Bachelor’s degree from Duke University.

© 2007 National Federation of Community Development Credit Unions.