WASHINGTON (3/11/13)--Gregory A. Smith, president/CEO of Pennsylvania State Employees CU, Harrisburg, Pa., will join the 12-member Federal Reserve Bank of Philadelphia's Community Depository Institution Advisory Council (CDIAC) in 2013.
Smith began his credit union career with Torrey Pines FCU, San Diego, Calif., in 1972, and has also worked with Western Corporate FCU, San Dimas, Calif.; Orange County's CU, Santa Ana, Calif.; Teachers FCU, Long Island, N.Y.; and Michigan State University EFCU, East Lansing, Mich. Smith is a member of the Pennsylvania Credit Union Association's State Credit Union Advisory and Regulatory Review committees. He is also active in the association's Governmental Affairs Committee.
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.
Philadelphia Fed CDIAC members are drawn from eastern Pennsylvania, southern New Jersey, and Delaware.
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.