A group of lawyers that proved instrumental in helping creditunions navigate the details of the U.S. Treasury Department'sCommunity Development Capital Initiative loans has recognizedcommunity development credit union leader Clifford Rosenthal forhis public service.

According to the National Federation of Community DevelopmentCredit Unions, where Rosenthal is executive director, the LawyersAlliance for New York recognized Rosenthal at their 2011 BusinessLaw & Leadership Gala at Gotham Hall in Manhattan.

The Lawyers Alliance specializes in providing pro-bono legalwork to non-profit and development organizations in New York andaround the country. In 2010, the Lawyers Alliance providedkey legal help to small CUs that were trying to understand therules and requirements of participating in the CDCI program.

“I'm humbled to be recognized by the Lawyers Alliance for NewYork, since I feel it is I who should be thanking them,” saidRosenthal.

“The fact of the matter is, that thanks to assistance from theLawyers Alliance and their network of pro-bono attorneys, nearly 50low-income designated, CDFI-certified CDCUs were able to accessalmost $70 million in long-term, low-interest secondary capitalfrom Treasury,” he explained.

“That kind of money is simply not out there in the currenteconomy, so for our CDCUs to be able to access these funds toexpand their service in low- and moderate-income communitiesnationwide has been a major victory for our movement,” Rosenthalsaid.