President & CEO Daniel Betancourt Tapped for Federal Reserve Board Community Advisory Council
Lancaster, PA (December 17, 2020) – Community First Fund is pleased to announce that the organization’s long-time leader, President and CEO Daniel Betancourt, has been selected to serve on the Federal Reserve Board’s Community Advisory Council (CAC). Betancourt is one of five new members selected to serve on the 15-member CAC and will serve a three-year term.
Formed by the Federal Reserve Board in 2015, the CAC’s role is to offer 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. The CAC is composed of a diverse group of experts and representatives of consumer, workforce, and community development organizations and interests, including from such fields as affordable housing, economic development, labor, small business, and asset and wealth building.
Betancourt has served as President & CEO of Community First Fund for 22 years. Under his leadership, the organization has grown from $1MM to $200MM in capital under management. He developed strategies that have been instrumental in geographic expansion and product growth, resulting in increased lending activity and impact in their 20-county footprint.
As an advocate for funding for small businesses, Betancourt has testified before both the U.S. Senate and U.S. House Small Business Committees and the Board of Governors of the Federal Reserve. He currently serves on the board of directors for the Greater Philadelphia Hispanic Chamber of Commerce, Partners for the Common Good, and Santander Community Advisory Board. He also serves on the NMTC Advisory Board for the Reinvestment Fund and the Federal Reserve Bank of Philadelphia President’s Advisory Council.
You can read the Federal Reserve’s press release about the announcement here: https://www.federalreserve.gov/newsevents/pressreleases/other20201217a.htm