Release Date: December 17, 2018
Orleans, MA – Dorothy A. Savarese, President and CEO of Cape Cod 5, has been appointed by the Federal Reserve Board to serve on their Community Depository Institutions Advisory Council (CDIAC), representing the First District, beginning in 2019.
The twelve-member CDIAC is comprised of one delegate from the advisory council for each of the Federal Reserve districts and represents a mix of commercial banks, thrift institutions and credit unions. The council advises the Federal Reserve Board of Governors on the economy, lending conditions and other issues related to community depository institutions when they meet in Washington twice per year.
“It is a great privilege to serve on the Federal Reserve Board Community Depository Institutions Advisory Council,” said Savarese. “Along with fellow CDIAC representatives, I look forward to further promoting the importance of community banks like Cape Cod 5, which provide financing, service and advice to individuals and businesses, helping communities thrive.”
This will be Savarese’s first year serving on the Federal Reserve Board Community Depository Institutions Advisory Council. She was appointed to the Federal Reserve Bank of Boston’s First District CDIAC in 2018 and will become Chairman in 2019. Savarese is past Chairman of the American Bankers Association and has served on the FDIC Advisory Committee on Community Banking.