NEW YORK-Long-time president of the National Federation of Community Development Credit Unions, Cliff Rosenthal, has agreed to postpone his planned retirement in light of the new challenges CDCUs face in the midst of the ongoing financial crisis.
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"CDCUs, like other credit unions, have suffered 'collateral damage' from the subprime crisis, reflected in rising delinquencies, falling investment income, and decreased access to liquidity within the credit union system," the Federation said in announcing Rosenthal's decision to stay on past his intended retirement date of spring of 2010.
