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Office of the Press Secretary

For Immediate Release December 2, 1994


The President today announced his intention to nominate three members to the board of directors of the National Consumer Cooperative Bank. The three are Tony Scallon of Minnesota, Sheila Smith of Illinois and Mindy Turbov of the District of Columbia.

Mr. Scallon is a member of the Minneapolis City Council and a board member of the Skills for Tomorrow Apprenticeship High School. His experience in low-income cooperative business includes the initiation of a rehabilitation program to improve existing low-income housing in Minnesota and the development of national housing strategies for the HOME program. Mr. Scallon previously served as First Vice Chair of the Minneapolis Housing and Redevelopment Authority. He received a bachelor of arts degree from Mankato State University, a specialist degree from the University of Minnesota and is currently a Ph.D. candidate from the University of Minnesota.

Ms. Smith is the President and Chief Operating Officer of Advanced Rubber Concepts, Inc., a profitable small business with offices in Illinois and Taiwan. She previously served as a member of the Minority Business Development Task Force of Chicago United. After earning a bachelor of arts degree from Barat College, Ms. Smith received a masters degree in political science and public administration from the University of Illinois at Chicago.

Ms. Turbov is Special Assistant to the Secretary of Housing and Urban Development and will serve as the federal government representative to the Bank. She previously served as Deputy Commissioner for Development for the Chicago Department of Housing. Ms. Turbov was also a Vice-President and Partner in McCormack, Baron and Associates, Inc., a real estate development and consulting firm specializing in public/private redevelopment projects in the inner city. She received a bachelor of arts in urban planning from the University of Illinois at Urbana and a masters in public administration from the John F. Kennedy School of Government at Harvard.

The National Consumer Cooperative Bank and its subsidiaries provide a broad array of financial services to the nation's cooperative business sector, spurring economic growth and community development in urban and rural America. Primary lines of business include commercial lending, mortgage banking, capital markets and advisory services, lease financing and depository services. A specialist in employee-owned businesses, the Bank and its affiliated development corporation also provide development finance services to young and start-up businesses.