“banking the way it used to be, only better.”
44 Gay City News Impact Awards 2020
HONOREE
MICHAEL SERAO
EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER,
FIRST CENTRAL SAVINGS BANK
Michael Serao, executive vice president and chief administrative
offi cer at First Central Savings Bank, headquartered in Glen Cove,
Long Island, has 21 years of banking experience. He has served as
a vice president at JPMorgan Chase and also worked at Commerce
Bank and Quontic Bank, both located in Astoria.
As chief administrative offi cer, Michael has brought First Central
Savings Bank, or FCSB, into the 21st century. Through his advocacy
in the non-profi t sector and the LGBTQ community, Michael has ignited
change for clients who are looking for the full range of personal
banking services they can access anywhere, anytime at a brickand
mortar institution. He has inspired FCSB professionals to deliver
The Business Development Offi cers Michael brought on board have joined local non-profi t organizations to expand
the bank’s reach and acquire new customers and capitalize on new business opportunities. That mission refl ects FCSB’s
commitment to enriching communities, learning fi rst-hand about the credit needs of non-profi t organizations, driving local
economic growth, and cultivating lasting relationships by putting the best interests of clients fi rst.
Michael’s work in improving staff morale and increasing employee retention by 50 percent — through mentorship,
coaching, and treating employees as the bank’s most signifi cant resource — have led to organically enhanced customer
experiences.
Michael understands that many customers still prefer physical interaction with local bankers so he renovated the branch
network with a complete facelift. The benefi ts were immediate: stronger community partnerships and, for employees, a
sense of ownership of their branch that never existed before. FCSB communicates one basic idea — personal service —
to all its employees.
Michael leads FCSB’s philanthropic mission by securing funding for non-profi ts including the Long Island Crisis Center,
the New York City Children’s Theater, the Metro Boys & Girls Club, the Long Island Library Resources Council, the
Freeport Educational Foundation, and the American-Italian Cancer Foundation.
In 2018, Michael personally donated more than $100,000 in charitable contributions to non-profi t organizations
including $10,000 to the Long Island Crisis Center. He also works with Quality Services for the Autism Community.
Michael has worked actively in the LGBTQ community as a former president of the Western Queens LGBT Democratic
Club and a member of OUT Astoria.
In 2018, Michael’s activism in banking was recognized by the Long Island Press Power List as a Rainmaker and he was
named Person of the Year by the Long Island Crisis Center. His honors include HX Magazine Businessman of the Year,
the Powhatan Democratic Club’s Business Leadership Award, and Man of the Year from the Long Island City Kiwanis. In
2014, the Huffi ngton Post named him The Banker Everyone Loves.
Michael and his husband, Dr. Fidel Abreu, oversee a multi-million dollar real estate business.
A graduate of Queensborough Community College and New York University, Michael and his husband live in with their
three dogs, Bernie, CoCo, and Martin.