Federal Reserve Bank of Cleveland: Difference between revisions

Federal Reserve Bank of Cleveland
	Federal Reserve Seal
	Headquarters
Headquarters	E. 6th St. and Superior Ave. ; Cleveland, Ohio, USA
Coordinates	41°30′6.98″N 81°41′25″W / 41.5019389°N 81.69028°W
Established	May 18, 1914 (110 years ago)
President	Loretta Mester
Central bank of	Fourth District Ohio ; Parts of: ; Kentucky ; Pennsylvania ; West Virginia;
Website	www.ClevelandFed.org
	The Federal Reserve Bank of Cleveland is one of 12 regional banks that make up the Federal Reserve System

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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]

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]

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^[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	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 Medical Center, Cleveland, Ohio	C	2025

References[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]

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

[1] Loretta J. Mester Archived 2017-02-06 at the Wayback Machine at federalreserve.gov

[2] "Federal Reserve Bank Building". Archived from the original on October 24, 2015. Retrieved on 2015-10-16

[3] "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.

[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] "Learning Center and Money Museum: Teach". 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.

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@@ Line 1: / Line 1: @@
+{{Short description|Member Bank of Federal Reserve}}
 {{Infobox central bank
 | name            = Federal Reserve Bank of Cleveland
@@ Line 5: / Line 6: @@
 | image_2 = Federal Reserve Bank — Cleveland, Ohio.jpg
 | image_title_2 = Headquarters
-| headquarters    = E. 6th St. and Superior Ave. <br />[[Cleveland, Ohio|Cleveland]], [[Ohio]], [[United States of America|USA]]
+| headquarters    = E. 6th St. and Superior Ave. <br />[[Cleveland, Ohio]], [[United States of America|USA]]
-| coordinates     = <!-- use {{coord}} -->
+| coordinates     = {{Coord|41|30|6.98|N|81|41|25|W|display=inline,title}}
 | established     = {{Start date and age|p=y|1914|5|18}}
 | ownership       = <!-- Government owned or private co. -->
 | executive_title = President
 | executive       = [[Loretta Mester]]
-| bank_of         = {{Collapsible list |title=Fourth District |{{flag| Ohio}} |Parts of:<br /> |{{flag| Kentucky}}  |{{flag| Pennsylvania}} |{{flag| West Virginia}}}}
+| bank_of         = {{Collapsible list |title=Fourth District |{{flag| Ohio}} |Parts of: |{{flag| Kentucky}}  |{{flag| Pennsylvania}} |{{flag| West Virginia}}}}
 | currency        =
 | currency_iso    = <!-- see [[ISO 4217]] -->
@@ Line 26: / Line 27: @@
 }}
-The '''Federal Reserve Bank of Cleveland''' is the [[Cleveland, Ohio|Cleveland]]-based headquarters of the U.S. [[Federal Reserve System]]'s Fourth [[Federal Reserve Districts|District]]. The district is composed of [[Ohio]], western [[Pennsylvania]], eastern [[Kentucky]], and the [[Northern Panhandle of West Virginia|northern panhandle of West Virginia]]. It has branch offices in [[Cincinnati]] and [[Pittsburgh, Pennsylvania|Pittsburgh]]. The check processing center in [[Columbus, Ohio]], was closed in 2005. The [[chief executive officer]] and [[president (corporate title)|president]] is [[Loretta Mester]].<ref>[https://www.federalreserve.gov/aboutthefed/bios/banks/pres04.htm Loretta J. Mester] at federalreserve.gov</ref>
+The '''Federal Reserve Bank of Cleveland''' is the [[Cleveland, Ohio|Cleveland]]-based headquarters of the U.S. [[Federal Reserve System]]'s Fourth [[Federal Reserve Districts|District]]. The district is composed of [[Ohio]], western [[Pennsylvania]], eastern [[Kentucky]], and the [[Northern Panhandle of West Virginia|northern panhandle of West Virginia]]. It has branch offices in [[Cincinnati]] and [[Pittsburgh, Pennsylvania|Pittsburgh]]. The check processing center in [[Columbus, Ohio]], was closed in 2005. The [[chief executive officer]] and [[president (corporate title)|president]] is [[Loretta Mester]].<ref>[https://www.federalreserve.gov/aboutthefed/bios/banks/pres04.htm Loretta J. Mester] {{Webarchive|url=https://web.archive.org/web/20170206202351/https://www.federalreserve.gov/aboutthefed/bios/banks/pres04.htm |date=2017-02-06 }} at federalreserve.gov</ref>
-The bank building is a 13-story 203 foot [[high-rise]], located at Superior Avenue and East 6th Street in [[downtown Cleveland]] was designed by the Cleveland firm of [[Walker and Weeks]] and completed in 1923.<ref>{{cite web|url=http://www.emporis.com/complex/106064/federal-reserve-bank-of-cleveland-cleveland-oh-usa|title=Federal Reserve Bank Building}} Retrieved on 2015-10-16</ref> Its exterior architecture emulates an [[Renaissance architecture|Italian Renaissance]] [[palazzo]], is clad in pink Sienna [[marble]]. An extension to the building designed by [[Hellmuth, Obata and Kassabaum|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 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.<ref>{{cite web|url=http://www.emporis.com/complex/106064/federal-reserve-bank-of-cleveland-cleveland-oh-usa|archive-url=https://web.archive.org/web/20151024043822/http://www.emporis.com/complex/106064/federal-reserve-bank-of-cleveland-cleveland-oh-usa|url-status=dead|archive-date=October 24, 2015|title=Federal Reserve Bank Building}} Retrieved on 2015-10-16</ref> Its exterior architecture emulates an [[Renaissance architecture|Italian Renaissance]] [[palazzo]], and is clad in [[Etowah marble|Georgia pink marble]].  An extension to the building designed by [[Hellmuth, Obata and Kassabaum|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 sculpture]]s by [[Henry Hering]] representing ''Security'' and ''Integrity'' flanking the East Sixth Street entrance, while his ''Energy'' watches the Superior Avenue entry.
-Its original {{convert|100|ST|t}} [[bank vault]] door is the largest in the world. The door casting itself was {{convert|20|ST|t}}.{{Citation needed|reason=Can't find a source for this last number|date=December 2009}} It incorporates the largest hinge ever built. The hinge has an overall height of {{convert|19|ft|m}} and weighs over {{convert|47|ST|t}} fully assembled. The vault's use was discontinued in 1997, though it is preserved intact for posterity.<ref>{{cite web|url=http://www.clevelandfed.org/For_the_Public/Tours/About_the_Cleveland_Fed/Photo_Tour/photo_tour_thirteen.cfm|title=Federal Reserve Bank of Cleveland historical photo tour|publisher=Federal Reserve Bank of Cleveland|access-date=11 December 2009|archive-url=https://web.archive.org/web/20100621010311/http://clevelandfed.org/For_the_Public/Tours/About_the_Cleveland_Fed/Photo_Tour/photo_tour_thirteen.cfm|archive-date=21 June 2010|url-status=dead}}</ref>
+Its original {{convert|100|ST|t}} [[bank vault]] door is the largest in the world and was designed by [[Frederick S. Holmes]]. The door casting itself was {{convert|20|ST|t}}.{{Citation needed|reason=Can't find a source for this last number|date=December 2009}} It incorporates the largest hinge ever built. The hinge has an overall height of {{convert|19|ft|m}} and weighs over {{convert|47|ST|t}} fully assembled. The vault's use was discontinued in 1997, though it is preserved intact for posterity.<ref>{{cite web|url=http://www.clevelandfed.org/For_the_Public/Tours/About_the_Cleveland_Fed/Photo_Tour/photo_tour_thirteen.cfm|title=Federal Reserve Bank of Cleveland historical photo tour|publisher=Federal Reserve Bank of Cleveland|access-date=11 December 2009|archive-url=https://web.archive.org/web/20100621010311/http://clevelandfed.org/For_the_Public/Tours/About_the_Cleveland_Fed/Photo_Tour/photo_tour_thirteen.cfm|archive-date=21 June 2010|url-status=dead}}</ref>
 ==Learning Center and Money Museum==
@@ Line 37: / Line 38: @@
 [[File:Federal Reserve Bank, Cleveland, Ohio LCCN2010630382.tif|thumb|right|Bank entrance on East 6th Street in Downtown Cleveland.]]
 [[File:Cleveland FRB Vault Door.jpg|thumb|right|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 attacks|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.<ref>{{cite web|last1=Ball|first1=Chris|title=Northeast Ohio is home to many museums, from ethnic heritage to politics to financial affairs|url=http://www.cleveland.com/bestofcleveland/index.ssf/2009/04/northeast_ohio_is_home_to_many.html|website=Cleveland.com|access-date=6 September 2015}}</ref>  The museum is open from Monday through Thursday, except for bank holidays, and admission is free.
+In January 2006, the bank opened the '''Learning Center and Money Museum''', replacing the public teller windows vacated after [[September 11, 2001 attacks|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.<ref>{{cite web|last1=Ball|first1=Chris|title=Northeast Ohio is home to many museums, from ethnic heritage to politics to financial affairs|url=http://www.cleveland.com/bestofcleveland/index.ssf/2009/04/northeast_ohio_is_home_to_many.html|website=Cleveland.com|date=17 April 2009 |access-date=6 September 2015}}</ref>  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,<ref>{{Cite web|url=https://www.clevelandfed.org/learningcenter/teach.aspx|title=Learning Center and Money Museum: Teach|website=Federal Reserve Bank of Cleveland|access-date=2018-01-03}}</ref> 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.<ref>{{Cite web|url=https://www.clevelandfed.org/learningcenter/panic-of-1907.aspx|title=Panic of 1907|website=Cleveland Federal Reserve Bank|access-date=2018-01-03}}</ref>
+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,<ref>{{Cite web|url=https://www.clevelandfed.org/learningcenter/teach.aspx|title=Learning Center and Money Museum: Teach|website=Federal Reserve Bank of Cleveland|access-date=2018-01-03|archive-date=2020-06-01|archive-url=https://web.archive.org/web/20200601145030/https://www.clevelandfed.org/learningcenter/teach.aspx|url-status=dead}}</ref> 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.<ref>{{Cite web|url=https://www.clevelandfed.org/learningcenter/panic-of-1907.aspx|title=Panic of 1907|website=Cleveland Federal Reserve Bank|access-date=2018-01-03}}</ref>
 ==Board of directors==
+The following people are listed as on the board of directors {{As of|2021|lc=yes}}.  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.<ref>{{cite web|url=https://www.federalreserve.gov/aboutthefed/federal-reserve-system-cleveland.htm |title=Directors of Federal Reserve Bank of Cleveland |date=5 August 2017 |publisher=[[The Federal Reserve]]}}</ref>
-{{Update|section|updated=5 August 2017|date=July 2020}}
-The following people are listed as on the board of directors {{As of|2017|lc=yes}}.  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.<ref>{{cite web|url=https://www.federalreserve.gov/aboutthefed/federal-reserve-system-cleveland.htm |title=Directors of Federal Reserve Bank of Cleveland |date=5 August 2017 |publisher=[[The Federal Reserve]]}}</ref>
 {| class="wikitable sortable"
@@ Line 51: / Line 51: @@
 ! Director<br/>Class
 ! Term<br/>Expires
+|-align="center"
+!Dean J. Miller
+|President and Chief Executive Officer, [[First National Bank of Bellevue]], [[Bellevue, Ohio]]
+|A
+|2023
+|-
 |- align="center"
 !Eddie L. Steiner
 |President and Chief Executive Officer, [[CSB Bancorp, Inc]], [[Millersburg, Ohio]]
 |A
+|2024
-|2021
 |-align="center"
+!Helga Houston
-!Amy G. Brady
+|Senior Executive Vice President and Chief Risk Officer, [[Huntington Bancshares Inc.]], [[Columbus, Ohio]]
-|Chief Information Officer, Executive Vice President
-[[KeyBank]], [[Cleveland, Ohio]]
 |A
+|2025
-|2022
 |-align="center"
+!Darrell McNair
-!Stephen D. Steinour
-|President and Chief Executive Officer
+|President, [[MVP Plastics, Inc.]], [[Middlefield, Ohio]]
+|B
-,[[First National Bank of Bellevue]]
-[[Bellevue, Ohio]]
-|A
 |2023
 |-align="center"
+!Jacqueline Gamblin
-!Dean J. Miller
+|Chief Executive Officer, [[JYG Innovations]], [[Dayton, Ohio]]
-|Controller and Treasurer, Group Vice President-Company Transition Leader
-[[Procter & Gamble|The Procter & Gamble Company]]
-[[Cincinnati|Cincinnati, Ohio]]
 |B
+|2024
-|2021
 |-align="center"
+!Holly B. Wiedemann
-!David Megenhardt
+|Founder, [[AU Associates, Inc.]], [[Lexington, Kentucky]]
-|Executive Director, United Labor Agency, [[Cleveland, Ohio]]
 |B
+|2025
-|2022
 |-align="center"
+!Doris Carson Williams
-!Heidi L. Gartland
+(Chair)
-|Chief Government and Community Relations Officer, [[University Hospitals Cleveland Medical Center|University Hospitals]], Cleveland, Ohio
+|President and Chief Executive Officer, [[African American Chamber of Commerce of Western Pennsylvania]], [[Pittsburgh|Pittsburgh, Pennsylvania]]
-|B
+|C
 |2023
 |-align="center"
+!colspan="2"|''Vacant''
-!Cain A. Hayes
-|President and Chief Executive Officer
-[[Gateway Health]], [[Pittsburgh|Pittsburgh, Pennsylvania]]
 |C
+|2024
-|2021
 |-align="center"
-!Dwight E. Smith
+!Heidi L. Gartland
-(Chair)
+''(Vice Chair)''
-|President and Chief Executive Officer, [[Sophisticated Systems, Inc.]], [[Columbus, Ohio]]
+|Chief Government and Community Relations Officer, [[University Hospitals Cleveland Medical Center]], [[Cleveland, Ohio]]
 |C
+|2025
-|2022
-|-align="center"
-!Doris Carson Williams
-''(Deputy Chair)''
-|President and Chief Executive Officer
-African American Chamber of Commerce of Western Pennsylvania, [[Pittsburgh|Pittsburgh, Pennsylvania]]
-|C
-|2023
 |}
@@ Line 146: / Line 137: @@
 [[Category:1923 establishments in Ohio]]
 [[Category:Downtown Cleveland]]
-[[Category:Numismatic museums in the United States]]

v t e Federal Reserve Banks
The Federal Reserve Banks of Boston and Philadelphia have no branches.
New York branches	Buffalo (closed) East Rutherford Operations Center
Cleveland branches	Cincinnati Pittsburgh
Richmond branches	Baltimore Charlotte
Atlanta branches	Birmingham Jacksonville Miami Nashville New Orleans
Chicago branches	Detroit
St. Louis branches	Little Rock Louisville Memphis
Minneapolis branches	Helena
Kansas City branches	Denver Oklahoma City Omaha
Dallas branches	El Paso Houston San Antonio
San Francisco branches	Los Angeles Portland Salt Lake City Seattle

v t e National Register of Historic Places in Ohio
Lists by county	Adams Allen Ashland Ashtabula Athens Auglaize Belmont Brown Butler Carroll Champaign Clark Clermont Clinton Columbiana Coshocton Crawford Cuyahoga Darke Defiance Delaware Erie Fairfield Fayette Franklin Fulton Gallia Geauga Greene Guernsey Hamilton Hancock Hardin Harrison Henry Highland Hocking Holmes Huron Jackson Jefferson Knox Lake Lawrence Licking Logan Lorain Lucas Madison Mahoning Marion Medina Meigs Mercer Miami Monroe Montgomery Morgan Morrow Muskingum Noble Ottawa Paulding Perry Pickaway Pike Portage Preble Putnam Richland Ross Sandusky Scioto Seneca Shelby Stark Summit Trumbull Tuscarawas Union Van Wert Vinton Warren Washington Wayne Williams Wood Wyandot
Lists by city	Akron Cincinnati Cleveland Columbus Dayton Sandusky
Other lists	Bridges Cuyahoga Valley National Park National Historic Landmarks
Keeper of the Register History of the National Register of Historic Places Property types Historic district Contributing property

Authority control databases
International	ISNI VIAF
National	Israel United States Czech Republic

Latest revision as of 14:27, 17 April 2024

Learning Center and Money Museum[edit]

Board of directors[edit]

See also[edit]

References[edit]

External links[edit]