The Federal Reserve Board recently announced Gilda M. Nogueira will serve as Community Depository Institutions Advisory Council (CDIAC) president in 2018 while Christopher D. Maher will serve as vice president.
Nogueira is president and chief executive officer of East Cambridge Savings Bank in Cambridge, Massachusetts, and Maher is president and chief executive officer of OceanFirst Financial Corporation and OceanFirst Bank in Toms River, New Jersey.
The CDIAC advises the Board on the economy, lending conditions and other issues of interest to community depository institutions, with members selected from representatives of commercial banks, thrift institutions and credit unions serving on local advisory councils at the 12 Federal Reserve Banks.
One member of each of the Reserve Bank councils serves on CDIAC, officials noted, which meets twice a year with the Federal Reserve Board in Washington.
Federal Reserve Board officials said the CDIAC was established in 2010, but unlike the Federal Advisory Council, the CDIAC is not a statutory body but performs a parallel function in providing first-hand input to the Board on the economy, lending conditions, and other issues.
Federal Reserve Board officials said other CDIAC members include Lora Benrud, chief executive officer of WESTconsin Credit Union in Menomonie, Wisconsin and Alvin J. Cowans, president and chief executive officer of McCoy Federal Credit Union in Orlando, Florida.