NEW YORK – Longtime CEO of the National Federation of Community Development Credit Unions (Federation) Cliff Rosenthal announced last week that after 32 years with the Federation, he will leave May 4 to take a job with the federal government on May 7. Rosenthal will be assuming the position of Assistant Director of the Consumer Financial Protection Bureau (CFPB) in Washington, DC, leading the Office of Financial Empowerment.
“I am enormously excited about this new opportunity, which will enable me to work on developing and implementing financial services and products for traditionally underserved communities and consumers—the kind of work that I and the Federation have been pursuing for more than 30 years,” said Rosenthal.
Rosenthal said the Federation has come a long way since the 1980s, when its very future was in question. Now, he said, the Federation is proud to count more than 200 credit unions in its membership, with total assets of some $13 billion and membership of 1.7 million.
"I can tell you that reaching these heights was beyond our wildest dreams back in the 1980s," he added.
Rosenthal said leaving the federation is personally difficult, but added the organization is "strong, stable, and sustainable."