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Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It has branch offices in Cincinnati and Pittsburgh. The check processing center in Columbus, Ohio, was closed in 2005. The chief executive officer and president is Loretta Mester.[1]

Federal Reserve Bank of Cleveland

Federal Reserve Seal

Headquarters
HeadquartersE. 6th St. and Superior Ave.
Cleveland, Ohio, USA
Coordinates41°30′6.98″N 81°41′25″W / 41.5019389°N 81.69028°W / 41.5019389; -81.69028
EstablishedMay 18, 1914 (109 years ago) (1914-05-18)
PresidentLoretta Mester
Central bank of
Fourth District
Websitewww.ClevelandFed.org
The Federal Reserve Bank of Cleveland is one of 12 regional banks that make up the Federal Reserve System

The bank building is a 13-story 203 foot high-rise, located at Superior Avenue and East 6th Street in downtown Cleveland. It was designed by the Cleveland firm of Walker and Weeks and completed in 1923.[2] Its exterior architecture emulates an Italian Renaissance palazzo, and is clad in Georgia pink marble. An extension to the building designed by HOK was completed in 1998, providing new facilities for check processing and cash handling. The building is listed on the National Register of Historic Places. The building's entrances feature allegorical sculptures by Henry Hering representing Security and Integrity flanking the East Sixth Street entrance, while his Energy watches the Superior Avenue entry.

Its original 100 short tons (91 t) bank vault door is the largest in the world and was designed by Frederick S. Holmes. The door casting itself was 20 short tons (18 t).[citation needed] It incorporates the largest hinge ever built. The hinge has an overall height of 19 feet (5.8 m) and weighs over 47 short tons (43 t) fully assembled. The vault's use was discontinued in 1997, though it is preserved intact for posterity.[3]

Learning Center and Money Museum edit

 
Map of the Fourth District
 
Bank entrance on East 6th Street in Downtown Cleveland.
 
The door sealing the original primary vault inside the Bank's basement.

In January 2006, the bank opened the Learning Center and Money Museum, replacing the public teller windows vacated after September 11, 2001. Over 30 hands-on exhibits focus on the history of money, its effects on societies and cultures, and its central role in peoples' lives.[4] The museum is open from Monday through Thursday, except for bank holidays, and admission is free.

The museum includes a variety of activities and multi-media experiences to educate visitors, including computerized games about trading, writing contests, crayon rubbings, videos, speeches, films, and virtual tours,[5] One recent addition to the Learning Center and Money Museum is the documentary titled "The Panic of 1907" which details how the panic led to the creation of the Federal Reserve System. This film was produced by Joseph G. Haubrich and the Federal Reserve Bank of Cleveland.[6]

Board of directors edit

The following people are listed as on the board of directors as of 2021. Class A directors are elected by member banks to represent member banks. Class B directors are elected by member banks to represent the public. Class C directors are appointed by the Board of Governors to represent the public. Terms always expire on December 31 of their final year on the board.[7]

Members of Board of Directors
Director Title Director
Class
Term
Expires
Dean J. Miller President and Chief Executive Officer, First National Bank of Bellevue, Bellevue, Ohio A 2023
Eddie L. Steiner President and Chief Executive Officer, CSB Bancorp, Inc, Millersburg, Ohio A 2024
Helga Houston Senior Executive Vice President and Chief Risk Officer, Huntington Bancshares Inc., Columbus, Ohio A 2025
Darrell McNair President, MVP Plastics, Inc., Middlefield, Ohio B 2023
Jacqueline Gamblin Chief Executive Officer, JYG Innovations, Dayton, Ohio B 2024
Holly B. Wiedemann Founder, AU Associates, Inc., Lexington, Kentucky B 2025
Doris Carson Williams

(Chair)

President and Chief Executive Officer, African American Chamber of Commerce of Western Pennsylvania, Pittsburgh, Pennsylvania C 2023
Vacant C 2024
Heidi L. Gartland

(Vice Chair)

Chief Government and Community Relations Officer, University Hospitals, Cleveland, Ohio C 2025

See also edit

References edit

  1. ^ Loretta J. Mester 2017-02-06 at the Wayback Machine at federalreserve.gov
  2. ^ . Archived from the original on October 24, 2015. Retrieved on 2015-10-16
  3. ^ . Federal Reserve Bank of Cleveland. Archived from the original on 21 June 2010. Retrieved 11 December 2009.
  4. ^ Ball, Chris (17 April 2009). "Northeast Ohio is home to many museums, from ethnic heritage to politics to financial affairs". Cleveland.com. Retrieved 6 September 2015.
  5. ^ . Federal Reserve Bank of Cleveland. Archived from the original on 2020-06-01. Retrieved 2018-01-03.
  6. ^ "Panic of 1907". Cleveland Federal Reserve Bank. Retrieved 2018-01-03.
  7. ^ "Directors of Federal Reserve Bank of Cleveland". The Federal Reserve. 5 August 2017.

External links edit

  • Official website
  • Images and architectural information
  • Historical resources by and about the Federal Reserve Bank of Cleveland including annual reports back to 1916

federal, reserve, bank, cleveland, cleveland, based, headquarters, federal, reserve, system, fourth, district, district, composed, ohio, western, pennsylvania, eastern, kentucky, northern, panhandle, west, virginia, branch, offices, cincinnati, pittsburgh, che. The Federal Reserve Bank of Cleveland is the Cleveland based headquarters of the U S Federal Reserve System s Fourth District The district is composed of Ohio western Pennsylvania eastern Kentucky and the northern panhandle of West Virginia It has branch offices in Cincinnati and Pittsburgh The check processing center in Columbus Ohio was closed in 2005 The chief executive officer and president is Loretta Mester 1 Federal Reserve Bank of ClevelandFederal Reserve Seal HeadquartersHeadquartersE 6th St and Superior Ave Cleveland Ohio USACoordinates41 30 6 98 N 81 41 25 W 41 5019389 N 81 69028 W 41 5019389 81 69028EstablishedMay 18 1914 109 years ago 1914 05 18 PresidentLoretta MesterCentral bank ofFourth District OhioParts of Kentucky Pennsylvania West VirginiaWebsitewww ClevelandFed orgThe Federal Reserve Bank of Cleveland is one of 12 regional banks that make up the Federal Reserve SystemThe bank building is a 13 story 203 foot high rise located at Superior Avenue and East 6th Street in downtown Cleveland It was designed by the Cleveland firm of Walker and Weeks and completed in 1923 2 Its exterior architecture emulates an Italian Renaissance palazzo and is clad in Georgia pink marble An extension to the building designed by HOK was completed in 1998 providing new facilities for check processing and cash handling The building is listed on the National Register of Historic Places The building s entrances feature allegorical sculptures by Henry Hering representing Security and Integrity flanking the East Sixth Street entrance while his Energy watches the Superior Avenue entry Its original 100 short tons 91 t bank vault door is the largest in the world and was designed by Frederick S Holmes The door casting itself was 20 short tons 18 t citation needed It incorporates the largest hinge ever built The hinge has an overall height of 19 feet 5 8 m and weighs over 47 short tons 43 t fully assembled The vault s use was discontinued in 1997 though it is preserved intact for posterity 3 Contents 1 Learning Center and Money Museum 2 Board of directors 3 See also 4 References 5 External linksLearning Center and Money Museum edit nbsp Map of the Fourth District nbsp Bank entrance on East 6th Street in Downtown Cleveland nbsp The door sealing the original primary vault inside the Bank s basement In January 2006 the bank opened the Learning Center and Money Museum replacing the public teller windows vacated after September 11 2001 Over 30 hands on exhibits focus on the history of money its effects on societies and cultures and its central role in peoples lives 4 The museum is open from Monday through Thursday except for bank holidays and admission is free The museum includes a variety of activities and multi media experiences to educate visitors including computerized games about trading writing contests crayon rubbings videos speeches films and virtual tours 5 One recent addition to the Learning Center and Money Museum is the documentary titled The Panic of 1907 which details how the panic led to the creation of the Federal Reserve System This film was produced by Joseph G Haubrich and the Federal Reserve Bank of Cleveland 6 Board of directors editThe following people are listed as on the board of directors as of 2021 update Class A directors are elected by member banks to represent member banks Class B directors are elected by member banks to represent the public Class C directors are appointed by the Board of Governors to represent the public Terms always expire on December 31 of their final year on the board 7 Members of Board of Directors Director Title DirectorClass TermExpiresDean J Miller President and Chief Executive Officer First National Bank of Bellevue Bellevue Ohio A 2023Eddie L Steiner President and Chief Executive Officer CSB Bancorp Inc Millersburg Ohio A 2024Helga Houston Senior Executive Vice President and Chief Risk Officer Huntington Bancshares Inc Columbus Ohio A 2025Darrell McNair President MVP Plastics Inc Middlefield Ohio B 2023Jacqueline Gamblin Chief Executive Officer JYG Innovations Dayton Ohio B 2024Holly B Wiedemann Founder AU Associates Inc Lexington Kentucky B 2025Doris Carson Williams Chair President and Chief Executive Officer African American Chamber of Commerce of Western Pennsylvania Pittsburgh Pennsylvania C 2023Vacant C 2024Heidi L Gartland Vice Chair Chief Government and Community Relations Officer University Hospitals Cleveland Ohio C 2025See also edit nbsp Banks portalFederal Reserve Act Federal Reserve Bank of Cleveland Cincinnati Branch Office Federal Reserve Bank of Cleveland Pittsburgh Branch Office Federal Reserve System Federal Reserve Districts Federal Reserve Branches Structure of the Federal Reserve SystemReferences edit Loretta J Mester Archived 2017 02 06 at the Wayback Machine at federalreserve gov Federal Reserve Bank Building Archived from the original on October 24 2015 Retrieved on 2015 10 16 Federal Reserve Bank of Cleveland historical photo tour Federal Reserve Bank of Cleveland Archived from the original on 21 June 2010 Retrieved 11 December 2009 Ball Chris 17 April 2009 Northeast Ohio is home to many museums from ethnic heritage to politics to financial affairs Cleveland com Retrieved 6 September 2015 Learning Center and Money Museum Teach Federal Reserve Bank of Cleveland Archived from the original on 2020 06 01 Retrieved 2018 01 03 Panic of 1907 Cleveland Federal Reserve Bank Retrieved 2018 01 03 Directors of Federal Reserve Bank of Cleveland The Federal Reserve 5 August 2017 External links edit nbsp Wikimedia Commons has media related to Federal Reserve Bank of Cleveland Official website Images and architectural information Historical resources by and about the Federal Reserve Bank of Cleveland including annual reports back to 1916 Retrieved from https en wikipedia org w index php title Federal Reserve Bank of Cleveland amp oldid 1177331377, wikipedia, wiki, book, books, library,

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