The Federal Reserve Bank of Philadelphia has elected Joan Carter as chairman of its board of directors.

Ms. Carter is the co-founder, president, and chief operating officer of UM Holdings Ltd., Haddonfield, N.J., which manages private and public companies and selected investments.

Charisse R. Lillie was elected deputy chairman. Ms. Lillie is a partner at the law firm of Ballard Spahr Andrews & Ingersoll in Philadelphia.

Harry Elwell 3d and Glenn A. Schaeffer were elected to the board, and Robert D. Burris was reelected.

Mr. Elwell is president and chief executive officer of Absecon Bancorp and its First National Bank of Absecon, N.J. Mr. Schaeffer is president of the Pennsylvania Building and Construction Trades Council in Harrisburg. Mr. Burris is president and CEO of Burris Foods Inc., Milford, Del.

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