Press Release:
Nomination Period Opens for Membership on Community Depository Institutions Advisory Council
November 7, 2012
Contact: Denae Thibault, 617-973-3559, Denae.Thibault@bos.frb.org
The Federal Reserve Bank of Boston has opened nominations for membership on the First District’s Reserve Bank Community Depository Institutions Advisory Council (CDIAC). Made up of 12 members – including representation from at least two commercial banks, at least two thrift institutions, and at least two credit unions – the First District’s CDIAC is currently accepting nominations for three open positions.
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 of the First District’s CDIAC represent the six New England states of the First District: Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island and Vermont.
To participate on the CDIAC, eligible institutions must have assets below $10 billion. Nominees must be at the level of chief executive or president at his or her institution and may not be a current director of a Federal Reserve Bank. Members will serve a three-year term and shall commit to attend two meetings per year at the Federal Reserve Bank of Boston. At each meeting, members will be asked to provide information, advice, and recommendations through actively participating in discussions with Reserve Bank representatives.
Nomination information is available at www.bostonfed.org/bankinfo/cdiac. Individuals wishing to self-nominate are encouraged to provide references from banking organizations and associations. Nominations must be received by November 30, 2012.
For more information, please contact: Brian Clarke at 617-973-3126.
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