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News Now

Washington
CU exec is new Boston Fed advisory council member
WASHINGTON (1/10/13)--Edward Danek, Jr., president/CEO of Hartford FCU in Connecticut, will join three other credit union representatives on the 12-member Federal Reserve Bank of Boston First District Community Depository Institution Advisory Council (CDIAC) in 2013.

Danek is a first-time member of the CDIAC.

The other three current credit union representatives on the CDIAC are:

  • John Dwyer, Jr., president/CEO of New England FCU, Williston, Vt.;
  • Michael L'Ecuyer, president/CEO of Bellwether Community CU, Manchester, N.H.; and
  • James Blake, president/CEO of HarborOne CU, Brockton, Mass.
There are 12 CDIAC groups nationwide, with each group representing one Federal Reserve district. The district CDIACs are comprised of representatives from commercial banks, thrifts and credit unions with assets of $10 billion or less.

First district CDIAC members are drawn from Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.

The First District CDIAC's next meeting is scheduled for March 11.

The councils provide input to the Fed on the economy, lending conditions and other issues. The Fed selects one member from each of its 12 Fed local advisory councils to serve on the full CDIAC, and the council meets with the Fed in Washington, D.C., twice each year.
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