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Richard Reed Honored with NCB’s 2009 Spirit of Cooperation Award

Washington, DC (May 27, 2009) NCB, a leading financial services company, awards Richard Reed the NCB 2009 Spirit of Cooperation Award, presented at the Bank’s annual meeting held this month in The National Geographic Building in Washington, D.C. Mr. Reed is the Chief Financial Officer and Executive Managing Director of NCB.

"Rick’s ever expanding role at the Bank is just one of the many reasons he is receiving this honor," stated Charles E. Snyder, President and CEO of NCB. "During his almost quarter of a century of service, he has been instrumental in shaping the bank, its policies and programs which have assisted countless cooperatives throughout the years. Rick is an ideal example of what integrity, dedication, and teamwork can accomplish. He truly embodies the qualities of this award, and we are proud to name him this year’s recipient."

For nearly 25 years Mr. Reed has been dedicated to NCB’s mission, providing groundbreaking and essential financing options to cooperatives nationwide, making him the ideal recipient of this recognition. In both his roles as Executive Managing Director and Chief Financial Officer as well as a member of NCB’s Executive council, he inspires those around him, often sighted as an executive who leads by example, and whose unwavering commitment is frequently noted. In addition, Mr. Reed also serves NCB, FSB, the mortgage and retail-banking subsidiary of NCB.

Mr. Reed’s leadership roles extend beyond NCB, participating in professional organizations as the National Association of Corporate Treasurers, the Financial Executives Institute and the National Society of Accountants for Cooperatives.

The NCB Spirit of Cooperation award was created in 1999 to honor the spirit and dedication of Stan Dreyer, who, having been instrumental in the formation of NCB, retired from the Bank after 20 years of meritorious service. The award is bestowed annually on an NCB employee or member-customer whose commitment and contribution to the cooperative community emulate those embodied by Mr. Dreyer. Among his long list of accomplishments, Mr. Dreyer served as Executive Director of NCBA and, in that role was the premier advocate to Congress in helping to pass the National Consumer Cooperative Bank Act, which created NCB. Throughout his career, his dedication to fostering the growth and success of cooperatives, nationally and internationally, has earned him widespread recognition and an enduring legacy.

NCB means National Consumer Cooperative Bank, its subsidiaries and NCB Capital Impact, an affiliated non-profit corporation. Loans and technical assistance may be provided by NCB, NCB Capital Impact or NCB, FSB, all of which are Equal Housing Lenders. NCB, FSB is a wholly-owned subsidiary of NCB. Deposit products and services are provided by NCB, FSB, which is FDIC insured.

NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, NCB also has offices in Alaska, California, New York and Virginia. In addition, NCB has a growing community banking network in southwestern Ohio. To learn more about NCB, visit www.ncb.coop. 

For more information, contact NCB’s Brian Misenheimer at (703) 302-1956 or bmisenheimer@ncb.coop. Learn more about Ace Hardware at http://www.acehardware.com.