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News Now

Washington
CU reps named to new Fed advisory panel
WASHINGTON (2/17/11)—Tinker FCU President/CEO Michael Kloiber and Randolph-Brooks FCU President/CEO Randy Smith will represent the interests of credit unions on the Federal Reserve’s Community Depository Institutions Advisory Council (CDIAC) when it meets for the first time later this year. Tinker FCU is based in Oklahoma City, Oklahoma. Universal City, Texas’s Randolph-Brooks FCU currently holds $3.7 billion in assets. The Fed announced the establishment of the CDIAC in October. The CDIAC, which will include credit union, bank and thrift representatives, "will provide input to the (Fed) on the economy, lending conditions, and other issues." The Fed has selected one member from each of its 12 Fed local advisory councils to serve on the CDIAC. The CDIAC replaces the Thrift Institutions Advisory Council, which was established by the Fed in 1980 and advised the Fed on thrift institutions, mortgage finance, and regulations. Both Kloiber and Smith were TIAC members. For the full Fed release, use the resource link.
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