The Federal Reserve Bank of Boston announced today the appointment of four new members to the Bank’s First District Community Depository Institutions Advisory Council (CDIAC).

“I’m excited to welcome four new members to our Council, who each bring strengths and perspectives that will be valuable in our conversations,” said Eric Rosengren, president and chief executive officer at the Federal Reserve Bank of Boston. “The CDIAC continues to provide a space for members of financial institutions from the First District to share diverse perspectives on the economy.”

New Members include:

• Connecticut
  Brian A. Orenstein, President and CEO, Charter Oak Federal Credit Union, Waterford, CT
  Susan “Sue” L. Shields, President and CEO, The Milford Bank, Milford, CT

• Massachusetts
  Ping Yin Chai, President and CEO, Salem Five Cents Savings Bank, Salem, MA
  Barry Sloane, President and CEO, Century Bank, Medford, MA

Standing members of the Council include:

• Maine
  Lawrence “Larry” Barker, President and CEO, Machias Savings Bank, Machias, ME

• Massachusetts
  Jay Anderson, President and CEO, Pittsfield Cooperative Bank, Pittsfield, MA
  William “Bill” Parent, President and CEO, Blue Hills Bank, Norwood, MA
  Dorothy Savarese, President and CEO, The Cape Cod Five Cents Savings Bank, Harwich Port, MA

• New Hampshire
  James E. Graham, President and CEO, Woodsville Guaranty Savings Bank, Woodsville, NH

• Rhode Island
  Ellen N. Ford, President and CEO, Peoples Credit Union, Middletown, RI
  Brian J. Murphy, Chairman and CEO, Home Loan Investment Bank, Warwick, RI

• Vermont
  Robert Miller, President and CEO, Vermont State Employees Credit Union, Montpellier, VT

Established by the Federal Reserve Board of Governors in 2010, the CDIACs in the 12 Federal Reserve districts provide a diverse perspective on the economy, lending conditions, and other issues facing thrift institutions, credit unions, and community banks with different charters and regulators (including state member, state nonmember, and national banks).

Members attend two meetings per year at the Federal Reserve Bank of Boston and are asked to share information, offer advice, and make informal recommendations to the Reserve Bank's representatives during active roundtable discussions. The CDIAC members represent the six states in the Federal Reserve's First District: Connecticut (excluding Fairfield County), Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.

Council member Dorothy Savarese of The Cape Cod Five Cents Savings Bank serves as the First District representative to the national CDIAC beginning in 2019 for a term of three years. The national CDIAC meets twice a year to advise the Federal Reserve Board in Washington, DC.

The next meeting of the First District CDIAC will be on March 8, 2019. For more information, visit the Federal Reserve Bank of Boston’s website.