NEW YORK — After years as Executive Director of the National Federation of Community Development Credit Unions, the organization has named Clifford Rosenthal president and CEO.

The organizational change was made during a meeting of the Federation's board in October Rosenthal said, adding that the organization had made the change to both keep pace with other, similar, credit union organizations and to reflect the growing complexity of the Federation's work.

“I think it's very important to note that the change doesn't entail in additional duties or compensation,” Rosenthal said. “Also, this should not be confused with being chairman and CEO,” Rosenthal added. “That's an important distinction for an organization which is run from the grass roots.”

Rosenthal observed that the Federation has stepped its effort to facilitate community development investing and the development of a secondary market for certain community development mortgages.