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President and CEO Daniel Betancourt appointed Chair of Federal Reserve Board Community Advisory Council

March 3rd, 2023

Lancaster, PA – The Federal Reserve Board announced the appointment of Daniel Betancourt, President and CEO of Community First Fund, as the Chair of the Federal Reserve Board’s Community Advisory Council (CAC).  Betancourt was appointed to the CAC in 2020 and most recently served as the council’s Vice Chair.  The board also selected four new members to serve three-year terms.

Since its inception in 2015, the CAC continues to bring together diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations.  Members of the CAC include experts and representatives of consumer, workforce, and community development organizations.

Betancourt has served as President and CEO of Community First Fund since 1999.  Under his leadership, Community First Fund has grown into a revered regional Community Development Financial Institution (CDFI), attracting multi-million-dollar investments with nearly $230 million under management.  In 2022, Community First Fund launched its federally chartered credit union for which Betancourt also serves as President and CEO.

With more than 30 years of experience in small business and economic development lending, Betancourt’s leadership extends beyond the Community First Fund Family of Companies.  He is a member of the Federal Reserve Bank of Philadelphia’s President’s Council.  He serves on the board of directors for the Expanding Black Business Credit Initiative, Greater Philadelphia Hispanic Chamber of Commerce, Impact Services of Philadelphia, and Elizabethtown College.  As Chair of the Pennsylvania CDFI Network, Betancourt’s leadership was instrumental in the development of the COVID-19 Relief Pennsylvania Statewide Small Business Assistance program.

You can read the Federal Reserve’s press release about the announcement here.