Contact: Rafael Morales, Communications Officer
212-809-1850 ext. 206
rmorales@cdcu.coop

(December 16, 2005 – New York, NY) Cliff Rosenthal, the Federation's Executive Director, met with recently installed NCUA Board members Gigi Hyland and Rodney Hood on December 12 to brief them on the CDCU agenda and priorities for the coming year.

"We're delighted with the energy and fresh perspective that they bring to the board," said Rosenthal.  "We've had the opportunity to work with Ms. Hyland during her years with the credit union system. It's obvious she brings great technical and legal experience to the job, along with a deep understanding of the heart and soul of the movement."

Mr. Hood's background in community development banking and rural housing are "especially relevant for the CDCU movement," Rosenthal said.  "We found many areas of intersecting interest in our conversation, and we’re excited about the insights he brings to the agency."

Rosenthal briefed the board members on the Federation's key programs and regulatory concerns for 2006, including:

• securing continuing NCUA support for the CDCU Institute™, the Federation’s signature professional development program for the staff and board of CDCUs
  
• this month’s launch of the Federation’s CDCU Secondary Market for affordable-housing loans in low-income communities
  
• the Federation’s Community Development Partners program, a crucial strategy for uniting large and small credit unions in the face of increased calls for taxation and application of the Community Reinvestment Act
  
• NCUA’s “CDCU White Paper,” developed last year by Chairman Johnson’s office to inform agency staff about the challenges and responses of CDCUs in serving low-income communities

In addition, Ms. Hyland and Mr. Hood will be formally introduced to the Federation’s membership at its upcoming Latino Credit Union Conference and Annual Meeting in Durham, North Carolina (June 7-10, 2006).  “I’m sure our members will share my enthusiasm for their appointment to the NCUA board,” added Rosenthal. “The Federation looks forward to working with both new Board Members, as well as Chairwoman Johnson, on issues pertaining to CDCUs and the credit union movement in general this coming year.”  

For additional information on the Federation’s 4th Latino Credit Union Conference & 32nd Annual Meeting, please click here.