Nomination Period Opens for 2020 Membership on Boston Fed’s Community Depository Institutions Advisory Council
The Federal Reserve Bank of Boston is accepting nominations for membership on the First District's Reserve Bank Community Depository Institutions Advisory Council. The First District’s CDIAC has 12 members – including representatives from at least two commercial banks, thrift institutions, and credit unions – and represents the six New England states: Connecticut (excluding Fairfield County), Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
The CDIACs were established in the 12 Federal Reserve districts in 2010 by the Federal Reserve Board of Governors. The CDIACs 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 non-member, and national banks). Members serve a three-year term and commit to attend two meetings per year at the Federal Reserve Bank of Boston. Council members are asked to share information, offer advice, and make informal recommendations pertaining to their industry to Reserve Bank representatives during active roundtable discussions.
CDIAC members represent communities that form the backbone of the New England economy. From credit unions that support low-income and rural communities to commercial banks in the district's largest cities and towns, CDIAC members provide valuable perspectives that help the Boston Fed carry out its mission of public service across New England.
Eligible institutions must have assets below $10 billion and must nominate a participant at the chief executive officer or president level. The nominee may not be a current director of a Federal Reserve Bank. Individuals wishing to self-nominate are encouraged to provide references from banking organizations and associations. Nominations must be received by Jan. 2, 2020.
View and submit the nomination form here. Additional nomination information may be found at bostonfed.org/cdiac, or by contacting Carmen Panacopoulos at 617.973.5907 or email@example.com.