WASHINGTON (3/21/12)--The National Federation of Community Development Credit Unions has appointed its vice president of programs, Pamela Owens, as interim CEO, effective May 4 when CEO Clifford Rosenthal leaves after more than 30 years with the federation.
At a press conference Tuesday during the Credit Union National Association's 2012 Governmental Affairs Conference in Washington D.C., Lynda Milton, federation board chairman and CEO of Team Financial FCU, Houston, Texas, noted Rosenthal's accomplishments and outlined the next steps for a transition to new leadership.
On May 7, Rosenthal will become assistant director of the Office of Financial Empowerment for the Consumer Financial Protection Bureau. Milton noted Rosenthal's accomplishments, including:
- Quadrupling the federation's membership;
- Pioneering the concept for the federal Community Development Financial Institutions (CDFI) Fund;
- Achieving regulatory recognition for supplemental capital;
- Developing programs to reach the underserved population through African-American faith-based credit unions, credit unions serving Latino membership and forging ties with the disability community; and
- Bringing the federation to a sound, sustainable financial footing.
The federation's board met last weekend and ratified Owens' interim appointment, Milton said. Owens has worked with the federation since 1998, developing and managing the CDCU Institute, a training program for officials of community development credit unions (CDCU) and small credit unions. She also manages the federation's program to enhance the financial stability of older adults, programs to access financial services and employment for people with disabilities and more.
The federation will formally open a national search for a permanent president/CEO on April 1, with the assistance of TransitionGuides, a firm that specializes in non-profit executive transitions and sustainability planning, said Milton. The federation has worked with TransitionGudies before on its succession planning and succession planning for CDCUs.
"We anticipate the search process will be conducted throughout the spring and early summer. Our target for bringing on a successor is, tentatively, Oct. 1," said Milton.