Cape Cod 5’s Savarese Appointed to Federal Reserve Board Advisory Council

Cape Cod Five Cents Savings Bank President and CEO Dorothy Savarese.

ORLEANS – The President and CEO of Cape Cod 5 has been appointed by the Federal Reserve Board to serve on their Community Depository Institutions Advisory Council.

Dorothy Savarese will represent the First District on the 12 member council beginning in 2019.

The council advises the Federal Reserve Board of Governors on the economy, lending conditions and other issues related to community depository institutions.

Savarese said it is a great privilege to serve on the council.

“Along with fellow CDIAC representatives, I look forward to further promoting the importance of community banks like Cape Cod 5, which provide financing, service and advice to individuals and businesses, helping communities thrive,” she said.

The council meets twice per year in Washington.

This will be Savarese’s first year serving on the council. She was appointed to the Federal Reserve Bank of Boston’s First District CDIAC in 2018 and will become chairman in 2019.

Savarese is the past chairman of the American Bankers Association and has served on the FDIC Advisory Committee on Community Banking.