NEW YORK — When the going gets tough, the tough don't retire. Cliff Rosenthal, longtime CEO of the National Federation of Community Development Credit Unions had signaled his intention to step down from that position in 2010, but the ongoing financial situation has led him to continue.
"The federation's board of directors discussed the economic upheaval we have undergone and looked to identify what the long-range impacts might be on the organization, and it became obvious to all of us that we are in uncharted waters," Federation Chairman Eunice J. Rogers explained.
"Because of this and other factors, the board unanimously decided to invite Cliff to extend his time as CEO of the federation," she said.
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"I want to thank the board of directors for the confidence and support they have shown me," commented Rosenthal, and he took care to take an optimistic note.
"The federation has faced many challenges and fought many uphill battles over the past 35 years. We are in a stronger position than at any time in our history to help our members and strengthen the broader credit union movement. We believe that credit unions have an unprecedented opportunity to raise the profile of our industry and expand our reach to an American public much in need of fair and honest financial services and advice," he said.
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