Jeane M. Vidoni to serve as president of Fed’s Community Depository Institutions Advisory Council (CDIAC)
PERKASIE, Pa. (March 2023) – Jeane M. Vidoni, president and CEO of Penn Community Bank, the largest mutual bank in eastern Pennsylvania, has been appointed by the Federal Reserve Board of Governors to serve as president of the national Community Depository Institutions Advisory Council (CDIAC).
The national CDIAC advises the board 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. CDIAC meets twice a year with the Federal Reserve Board in Washington, D.C.
“In challenging economic times like these, it’s critical that local voices are heard at a national level. As community bankers, we are on the front lines of interacting with businesses, families, and communities directly impacted by the Fed’s policymaking process. I’m glad to be able to lend my voice to this discussion and help advocate for community banks and their customers across the nation,” said Vidoni.
“Similar to my time as chair of the Federal Reserve Bank of Philadelphia’s CDIAC, it is my goal as president of this national panel to elevate thoughts, ideas, and concerns from our neighborhood financial services providers to the highest levels of power in Washington. Together, we can ensure robust dialog and inform effective policy at this critical time.”
Vidoni has been a member of the Federal Reserve Bank of Philadelphia’s CDIAC (Third Federal Reserve District) since 2016, serving as chair since 2020. In 2022, she served as vice president for the national council.
In addition to CDIAC, she is an active leader in the Pennsylvania business and financial community, donating her time and leadership talents to several industry groups, including as Pennsylvania Member Director on the board of directors of the Federal Home Loan Bank (FHLB) of Pittsburgh, which supports homeownership programs throughout Delaware, West Virginia, and Pennsylvania. Locally, Vidoni is a member of the Bucks County Workforce and Economic Development Board, past president of the board of directors of the Central Bucks Chamber of Commerce, member of the advisory council of Habitat for Humanity of Bucks County, and on the board of directors of the United Way of Bucks County. A graduate of Muhlenberg College, she holds an MBA from Saint Joseph’s University.
About Penn Community Bank: Penn Community Bank holds more than $2.6 billion in assets, employs more than 300 people, and offers banking and lending services at 20+ bank branches and three administrative centers throughout southeastern 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. In support of this mission, Penn Community Bank’s charitable arm, the Penn Community Bank Foundation, contributes 5% of the institution’s net income each year to area nonprofits and community groups making a difference in the region.