Michael Castellana, the CEO of Albany–based SEFCU, a credit union with branches in the Syracuse and Binghamton areas, is the new chairman of the Federal Reserve Bank of New York Community Depository Institutions Advisory Council.
New York Fed leaders meet with the council twice a year to discuss economic and financial conditions and other issues concerning community depository institutions, according to the Fed. The council’s members include representatives from commercial banks, thrift institutions, and credit unions with assets of less than $10 billion in the Second Federal Reserve District, which includes New York, northern New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands.
Castellana will also represent the Second Federal Reserve District on the Federal Reserve Board’s Community Depository Institutions Advisory Council. The board’s council meets twice a year in Washington, D.C. and includes one member from each of the local Reserve Bank advisory councils.
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SEFCU has assets of $2 billion, 200,000 members, and 40 branches in the Albany, Syracuse, Binghamton, and Buffalo markets.
Contact Tampone at ktampone@cnybj.com
