Scranton Area Community Foundation President and CEO, Laura Ducceschi, appointed to the Federal Reserve Bank of Philadelphia’s Economic and Community Advisory Council

Scranton, PA – The Federal Reserve Bank of Philadelphia announced this week the appointment of Laura Ducceschi, President and CEO of the Scranton Area Community Foundation, as one of four new members to its Economic and Community Advisory Council (ECAC).

Ducceschi was asked to serve on the Council because of her deep understanding of issues impacting economic mobility, including community revitalization, workforce development, transportation, and housing, and her commitment to bringing together diverse groups and forging cross-sector partnerships to address regional challenges. Noted as of particular value to the Council is Ducceschi’s focus on developing responsive programs and using resources in innovative ways to advance inclusive growth across Northeastern Pennsylvania, as well as the knowledge she will bring on emerging trends in philanthropic giving and on a community foundation’s role in being a community catalyst. She will serve a three-year term.

The Federal Reserve Bank of Philadelphia’s Economic and Community Advisory Council (ECAC) informs the Bank’s senior leadership of emerging trends, issues, and market conditions that impact monetary policy within the Third Federal Reserve District and across the country. The Council is comprised of members from both the private and public sectors throughout PA, NJ, and DE, and fosters greater integration to encourage economic growth.

Ducceschi has been president and chief executive officer of the Scranton Area Community Foundation since 2012. She manages over 320 charitable funds and four foundations with more than $90 million in total assets. Ducceschi has also spearheaded many initiatives, including NEPA Moves with the Philadelphia Fed, NEPA Thrives, Women in Philanthropy, and NEPA Gives, a 24-hour regional giving day in northeastern Pennsylvania.

There are 14 members of the Economic and Community Advisory Council. In addition to Ducceschi, the Federal Reserve Bank of Philadelphia has also appointed Ken Kaiser, senior vice president and chief operating officer of Temple University; Jesse McCree, chief executive officer of SCPa Works; and Leslie Smallwood-Lewis, chief operating officer and cofounder of Mosaic Development Partners.

A press release from the The Federal Reserve Bank of Philadelphia indicates that they help formulate and implement monetary policy; supervise state member banks, bank holding companies, and savings and loan holding companies; and provide financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.