The New York League of Independent Bankers (NYLIB) announced Michael Serao, executive vice president and chief administrative officer of First Central Savings Bank (FCSB), has been appointed to its advisory board.
NYLIB is a not-for-profit organization, providing community-based financial institutions and a unique forum for networking and educational opportunities in the New York metropolitan area.
As members of the advisory board, Serao and others help identify trends and create solutions in community banking. The board is a dedicated group of bank executives who help promote growth in the independent industry while ensuring financial success with their banks.
“As we continue to strengthen our industry, increase market share and create opportunities for the future, I look forward to working with the New York League of Independent Bankers as we tackle some of the most pressing issues facing our industry today,” Serao said.
Serao has been with FCSB since 2017, overseeing retail banking, marketing, card services and more, in addition to being the Community Reinvestment Act (CRA) officer.
With his position as the CRA officer at FCSB, Serao helps with community-related programs. According to the Federal Reserve, the CRA helps “encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods.”
Serao also has experience with volunteerism in banking, being a member of the Congressional Community Banking Roundtable and is currently on the advisory board of Life’s WORC, which supports people with autism and intellectual disabilities.
“Michael’s experience in banking will be a great asset to our organization as we work toward achieving our mission to promote community banking in New York,” said Edward T. Lutz, president of the NYLIB.