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                                                                   EXHIBIT 24.16


                                POWER OF ATTORNEY

                         Know all men by these presents:

               That I Rafael E. Cuellar of ECO, 161 Jefferson Street Passaic,
NJ 07055 as a member of the Board of Directors of THE NATIONAL CONSUMER
COOPERATIVE BANK, do hereby make, constitute and appoint as my true lawful
attorney in fact Richard L. Reed or Louise M. Grant for me and in my name,
place and stead to sign any and all of the following and amendments thereto
executed on behalf of THE NATIONAL CONSUMER COOPERATIVE BANK and filed with
the Securities and Exchange Commission, as follows:

Annual Reports on Form 10-K for the NATIONAL CONSUMER COOPERATIVE BANK.

       IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
       March, 2003.


/s/  RAFAEL E. CUELLAR
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Signature


State of   NJ               )
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                            )             SS:  ###-##-####
County of  Passaic          )
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     On this 27th day of March, 2003, before me personally appeared the
above, to me known and known to me to be the person mentioned and described in
and who executed the foregoing instrument and he duly acknowledged to me that he
executed the same.