Federation President/CEO Clifford N. Rosenthal

(September 22, 2009 – New York, NY)  In an effort to increase the community impact of its programs and services, the Federal Reserve Bank of New York has named 11 individuals to serve on its Community Affairs Advisory Council, including Clifford Rosenthal, President/CEO of the National Federation of Community Development Credit Unions (Federation).

According to a recent press release from the Federal Reserve Bank, the newly-created group will work with the Community Affairs Office “to provide ground-level intelligence on conditions and challenges for low- and moderate-income communities. The New York Fed’s Community Affairs Office will use the valuable feedback and information gathered through the Council in its knowledge building and outreach efforts relating to low- and moderate-income communities.”

“It’s an honor to be invited to join this group,” said Rosenthal.  “The creation of this council shows a real commitment by the Federal Reserve Bank of New York to promote mainstream financial services in underserved constituencies.  I look forward to working with the rest of the council to assist the bank in developing programs that benefit low- and moderate-income people and communities.”

Rosenthal previously served on the Consumer Advisory Council of the Federal Reserve Board from 1989 through 1991.

Other appointees to the council included Cathie Mahon, Executive Director of the New York City Department of Consumer Affairs, Office of Financial Empowerment, a former CDCU practitioner and senior Federation staff member.

To read the Federal Reserve’s full press release, and for a complete list of council members, please click here.

© 2009 National Federation of Community Development Credit Unions.