DUNKERQUE – Lake Shore Bancorp, Inc. (NASDAQ: LSBK), the holding company of Lake Shore Savings Bank, announced Monday that Catharine M. Young has been appointed to the company’s board of directors.
Young is currently the Executive Director of the New York State Center of Excellence for Food and Agriculture at the AgriTech Center at Cornell University, a position she has held since March 2019. She previously served for 20 years in the New York State Legislature as a Senator and Member of the Assembly. .
As a senator for 14 years, Young represented the 57th District of Western New York State, which included Chautauqua, Cattaraugus, Allegany and parts of Livingston Counties. She was a pioneer, becoming the first woman to chair the Standing Senate Committee on Finance – the second highest in the Senate. She also chaired the Housing, Construction and Community Development Commission.
“The arrival of Cathy Young to our Board of Directors is an important victory in the leadership and corporate governance landscape,” said Kevin Sanvidge, Chairman of the Board of Directors of Lake Shore Bancorp. “She served western New York State admirably and effectively as state legislator for two decades. She chaired the Senate Finance Committee, which formulated, negotiated and adopted a state budget of more than $ 170 billion. The knowledge, experience and connections she has are remarkable, providing us with a genuine and respected resource who not only understands our business and our industry, but also understands and embraces our community and the needs of our customers.
At Cornell’s Geneva-based Center of Excellence for Food and Agriculture, Young leads a team whose mission is to grow New York’s food, beverage and agricultural economy – assessed to over $ 36 billion a year – serving as a hub for businesses to connect with. expertise and resources, enabling them to innovate, grow and prosper. She is also a member of several businesses and community organizations.
“I am honored to join the board of directors of Lake Shore Bancorp,” said Young. “I have worked with the management of the company and have served thousands of their clients for decades as a representative in Albany. Now, I look forward to bringing my experiences from Albany and Cornell to our team of directors as we work to help the company gain market share, new shareholders and other measurable improvements.
Young served in the Senate from 2005 to 2019. She also served in the State Assembly from 1999 to 2005, where she held several leadership positions, including that of Assistant Minority Leader Pro Tempore. Her public service career began in 1995, after winning a seat in the Cattaraugus County Legislature and being appointed Majority Whip.
“We are delighted that Cathy Young is joining our Board of Directors and look forward to benefiting from her vast experience,” added Daniel P. Reininga, President and CEO of Lake Shore Bancorp. “His mix of public service and business experience is unmatched in our markets, giving us a unique and insightful perspective that should positively impact us all. We couldn’t ask for a better person to join our team and guide our next stages of growth and development.
Prior to her career in the public service, Young was a professional in public relations and communications, having obtained with great distinction a bachelor’s degree in mass communication from Saint-Bonaventure University.
Growing up in Livingston County, she is now the mother of three grown children and resides in Olean with her husband, Richard.