John M. Scarchilli Sworn-In as Member of Board
of Federal Home Loan Bank of New York
Contact: Eric Amig - 212 441-6807 |
September 21 , 2006 |
New York, N.Y. – John M. Scarchilli, President and Chief Executive Officer of Pioneer Savings Bank, Troy, N.Y., was sworn-in as a new Member of the Board of Directors of the Federal Home Loan Bank of New York (“FHLBNY”) on September 20, 2006.
“We are delighted to have John join the Home Loan Bank’s Board of Directors,” said Alfred DelliBovi, President of the FHLBNY. “Mr. Scarchilli’s good judgment, combined with his knowledge and expertise in community banking, make him a valuable addition to our Board.”
“I am honored to be elected to the Board of Directors of the Home Loan Bank of New York,” said John Scarchilli, President and CEO of Pioneer Savings Bank. “I look forward to working to ensure that the Home Loan Bank continues its mission of advancing housing opportunity and local community development by maximizing the capacity of community-based member-lenders to serve their markets.”
Mr. Scarchilli is filling the unexpired term of Sanford A. Belden, who retired from the Board in July 2006 as a result of his retirement from Community Bank, N.A. Mr. Scarchilli’s term expires on December 31, 2006.
John Scarchilli is a lifetime Empire State Capital Region resident. He joined Pioneer Savings Bank in 1977 as Assistant Auditor, was promoted to Assistant to the President in 1979, Vice President in 1984, Vice President and Chief Financial Officer in 1992 and Senior Vice President/CFO in 1995. In August of 1996, he was promoted to President and Chief Operating Officer of Pioneer and in 1997 was additionally designated as Chief Executive Officer and elected to the Board of Trustees in 1999. John is a graduate of Hudson Valley Community College in Troy and has a Bachelor's Degree in Accounting from Siena College. He is also a U.S. Army veteran, having served as a Survey Specialist from 1971 through 1973. He resides in Latham, New York with his wife, Nancy.
Pioneer Savings Bank is a $752 million mutual savings bank headquartered in Troy, New York. The bank was founded in 1889 as the Pioneer Building Loan and Savings Association of Troy. In 1972 it converted from an S&L to a state chartered mutual savings bank. The bank currently has 14 offices and employs over 330 staff members.
Mr. Scarchilli serves on numerous not-for-profit boards in the local community. He is a Director of The Rensselaer Gateway Development Corporation, a privately funded economic development entity in Rensselaer County, as well as the Center for Economic Growth (CEG) and the Albany-Colonie Regional Chamber of Commerce. He is Chair of The Northeast Health Foundation Board, the parent company to a number of local hospitals and elder care facilities and serves as a member of the Audit Committee of Ordway Research Institute. John has additionally served on the Board of the Rensselaer County Chamber of Commerce, the Commission on Economic Opportunity and the Rensselaer County Community Hospice Foundation Board. In 2001, John and Pioneer were honored as the recipient of the Rensselaer County Chamber's Van Rensselaer Award for outstanding citizenship. In January of 2003, John was honored by the Northeast Health Foundation with its Founders’ Award and in May of 2003, he was bestowed with the Distinguished Alumnus Award by Hudson Valley Community College. In 2004, John was honored with the YMCA President’s Award, the Community Hospice of Rensselaer County’s Heart of Hospice Award and the Boy Scouts of America Twin Rivers Council Good Scout Award.
The Federal Home Loan Bank of New York is a $90 billion, Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The Federal Home Loan Bank of New York serves 300 community lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands.
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