Jeane M. Vidoni to represent the Third Federal Reserve District on the Fed’s Community Depository Institutions Advisory Council
PERKASIE, Pa. (February 5, 2020) – Jeane M. Vidoni, president and CEO of Penn Community Bank – the largest mutual bank headquartered in Southeastern Pennsylvania – has been appointed to represent the Third Federal Reserve District on the Federal Reserve Board’s Community Depository Institutions Advisory Council (CDIAC) for 2020.
“It is vitally important – both here in the Philadelphia region and at the national level – that decision makers understand the economic and business trends facing community depository institutions in the markets they serve,” said Vidoni. “I am honored to have the opportunity to advocate for community banks, local businesses, and our customers by lending my voice to the Fed’s policymaking process via the CDIAC.”
The CDIAC advises the Fed on the economy, lending conditions, and other issues of interest to community depository institutions. Members are 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 the CDIAC, which meets twice a year with the Federal Reserve Board in Washington. Vidoni has been a member of the Federal Reserve Bank of Philadelphia’s CDIAC since 2016.
About the Federal Reserve Bank of Philadelphia: The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern Pennsylvania, southern New Jersey, and Delaware.
About Penn Community: Penn Community Bank holds more than $2 billion in assets, employs more than 350 people, and offers banking, lending, and investments at 24 bank branches and two administrative centers throughout Bucks and Montgomery counties, Pennsylvania. As an independent, mutual financial institution, Penn Community Bank is not publicly traded and operates with its long-term mission in mind: to help businesses grow and prosper, to provide financial resources to individuals and families throughout their lifetimes, to strengthen the local economy, and to partner with local organizations to act as a catalyst for positive growth in every market it serves.