Pioneering Microfinance Organization Names New CFO

Susan Clancy Joins Boston-based ACCION International

Boston, Mass., July 31, 2008 –ACCION® International, a pioneer and leader in microfinance, today announced that it has appointed Susan Clancy to the position of Managing Director and Chief Financial Officer.

Ms. Clancy brings an extensive, international career in finance to ACCION, having most recently served as CFO of Kendae Technology, a start-up firm focused on online decision support for college-bound teenagers.

Prior to Kendae, Clancy spent 10 years with CNET Networks, a global interactive media company, where she served as CFO of the company’s Channel and International divisions.  She has also served as Business Manager of ZDNet, as a financial analyst for Norton Company/CertainTeed, and as a manager for Prudential-Bache Securities and L.F. Rothschild, Unterberg, Towbin.

Clancy holds degrees from Cornell University and the Harvard Business School, and is a resident of Newton, Mass.

Clancy succeeds Cathy Quense, a 25-year veteran of ACCION, in the role of CFO; Quense was recently named ACCION’s Chief Deputy/Chief Administrative Officer.

ACCION International is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training and other financial services – to work their way out of poverty.  A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil.  ACCION International’s partner microfinance institutions today are providing loans as low as $100 to poor men and women entrepreneurs in 25 countries in Latin America, Asia, Africa and the United States.  In the last decade alone, ACCION partners have disbursed more than 22.4 million loans totaling $17.4 billion; 97 percent of the loans have been repaid.  Selected for the fifth consecutive year for its pioneering approaches to poverty alleviation, ACCION was among 45 organizations awarded the 2008 Social Capitalist Award by Fast Company Magazine/Monitor Group. ACCION has also been awarded Charity Navigator’s highest rating – four stars – for efficiency and sound fiscal management, for the second consecutive year.  For more information,

ACCION® is a registered trademark of ACCION International.

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Media contact:
Bruce MacDonald
VP, Communications
ACCION International
Tel: +1-617-625-7080, x1245