Boston Fed announces new members of two advisory councils Boston Fed announces new members of two advisory councils

New council members to bring perspective on economy, issues impacting the First District New council members to bring perspective on economy, issues impacting the First District

February 17, 2021

The Federal Reserve Bank of Boston is pleased to announce three new members of its Community Development Advisory Council and two new members of its Community Depository Institutions Advisory Council.

“At this time of exceptional economic strain, it is ever more important to hear from our local communities and financial institutions that are being negatively affected,” said Eric S. Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston. “I am delighted to welcome our new members to the Community Development Advisory Council and Community Depository Institutions Advisory Council.”

“Both Advisory Councils represent the communities that form the backbone of the New England economy, and I know our new members’ diverse perspectives and expertise will help us carry out our mission of public service across the region,” he said.

Community Development Advisory Council

Michael A. Curry, president and chief executive officer of the Massachusetts League of Community Health Centers; Yvonne Goldsberry, president of the Endowment for Health in New Hampshire; and Dan Smith, president and chief executive officer of the Vermont Community Foundation were appointed to the CDAC effective early 2021.

Curry leads local, state, and federal affairs and public policy for 52 community health centers throughout Massachusetts and is recognized locally and nationally for his health care policy leadership. Goldsberry’s nonprofit organization - where she manages health policy, equity, and advocacy initiatives - is dedicated to improving the health of all New Hampshire residents, especially those who are underserved. Smith’s philanthropic organization aims to close Vermont’s “opportunity gap” and ensure equitable access to childcare, education and career training, and health and economic security, regardless of race, ethnicity, or socioeconomic background.

The CDAC provides a forum for representatives across New England to inform the Boston Fed leadership and bank community development staff of activities, issues that relate to low- and moderate-income individuals and communities, barriers to community development, and how the bank can support development efforts across the region. The Council meets three times a year.

Community Depository Institutions Advisory Council

Denis K. Sheahan, chairman, president, and chief executive officer of Cambridge Trust Company and Cambridge Bancorp in Massachusetts; and Neil J. Kiely, president and chief executive officer of Androscoggin Bank in Maine were appointed to the CDIAC effective Jan. 1.

Sheahan joins with over 20 years of experience in banking and with background in housing and immigration advocacy. Kiely joins with extensive backgrounds in law, real estate development, entrepreneurship, and wealth management.

The Federal Reserve Board of Governors established the CDIACs in the 12 Federal Reserve districts in 2010. The CDIAC represents financial institutions across the district and provides perspective on the economy, lending conditions, and other issues facing thrift institutions, credit unions, and community banks. The CDIAC convenes twice annually.

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