The National Federation of Community Development Credit Unions has named one of its former executives, Cathie Mahon, as its new CEO.
The CEO position opened up in May after longtime CEO Cliff Rosenthal left that position to take a job with the Consumer Financial Protection Bureau.
"Cathie is a very talented, committed professional who brings the experience needed to build on the solid foundation that we have built together at the Federation" said Lynda Milton, board chair of the Federation.
"She brings with her excitement and commitment for the community development credit unions we serve, and has fresh ideas on how we can continue to build on the great history and accomplishments of this organization,” Milton said.
"I am thrilled to be taking on this leadership role with the national Federation," Mahon said. "I have seen first-hand the benefits of connecting people to safe and affordable products and services from working with my previous organization. Credit unions provide real alternatives to predatory lenders and fringe service providers. I look forward to working with the Federation to expand on the successes we have seen in communities across the country."
The Federation said Mahon previously served as the deputy commissioner for Financial Empowerment with the New York City Department for Consumer Affairs and that while in that position she established a network of Financial Empowerment Centers providing free one-on-one financial counseling to New Yorkers in need.
The Federation also detailed her launching SAVE USA, an effort which helped thousands of New Yorkers find safe and affordable banking products and which sparked similar efforts around the country.
Mahon, a former policy and program director for the Federation from 1995 through 2001, will assume the role of CEO effective Oct. 1, the Federation said.