Federal Reserve Bank of Cleveland

Federal Reserve Bank Of Cleveland

Cleveland Federal Reserve
Location E. 6th St. and Superior Ave., Cleveland, Ohio
Coordinates 41°30′6″N 81°41′26″W / 41.50167°N 81.69056°W / 41.50167; -81.69056Coordinates: 41°30′6″N 81°41′26″W / 41.50167°N 81.69056°W / 41.50167; -81.69056
Area 1 acre (0.40 ha)
Built 1923
Architectural style Late 19th And 20th Century Revivals, Other, Second Renaissance Revival
NRHP Reference # 76001392[1]
Added to NRHP October 8, 1976
Map of the Fourth District

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.[2]

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.[3] Its exterior architecture emulates an Italian Renaissance palazzo, is clad in pink Sienna 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. The hinge has an overall height of 19 feet (5.8 m) and weighs over 47 short tons (43 t) fully assembled. The door casting itself was 20 short tons (18 t). It incorporates the largest hinge ever built. The vault's use was discontinued in 1997, though it is preserved intact for posterity.[4]

The door sealing the original primary vault inside the Bank's basement.

Learning Center and Money Museum

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.[5] The museum is open from Monday through Thursday, except for bank holidays, and admission is free.

Current Board of Directors

The following people are on the board of directors as of 2013:[6]

Class A

Class A
Name Title Term Expires
Paul G. Greig Chairman, President and Chief Executive Officer
FirstMerit Corp.
Akron, Ohio		 2013
Todd A. Mason President and Chief Executive Officer
First National Bank of Pandora
Pandora, Ohio		 2014
Claude E. Davis President and Chief Executive Officer
First Financial Bancorp
Cincinnati, Ohio		 2015

Class B

Class B
Name Title Term Expires
Harold Keller President
Ohio Capital Corporation for Housing
Columbus, Ohio		 2013
Tilmon F. Brown President and Chief Executive Officer
New Horizons Baking Company
Norwalk, Ohio		 2014
Susan Tomasky Retired President
AEP Transmission
Columbus, Ohio		 2015

Class C

Class C
Name Title Term Expires
Christopher M. Conner

(Deputy Chair)

 Chairman and Chief Executive Officer
The Sherwin-Williams Company
Cleveland, Ohio		 2013
Alfred M. Rankin, Jr. Chairman, President and Chief Executive Officer
NACCO Industries, Inc.
Cleveland, Ohio		 2014
Richard K. Smucker

(Chair)

 Chief Executive Officer
The J.M. Smucker Company
Orrville, Ohio		 2015

See also

References

  1. ↑ National Park Service (2010-07-09). "National Register Information System". National Register of Historic Places. National Park Service.
  2. ↑ http://www.clevelandfed.org/about_us/officers_and_boards/mester/index.cfm
  3. ↑ "Federal Reserve Bank Building". Retrieved on 2015-10-16
  4. ↑ "Federal Reserve Bank of Cleveland historical photo tour". Federal Reserve Bank of Cleveland. Retrieved 11 December 2009.
  5. ↑ Ball, Chris. "Northeast Ohio is home to many museums, from ethnic heritage to politics to financial affairs". Cleveland.com. Retrieved 6 September 2015.
  6. ↑ "Directors of Federal Reserve Banks and Branches". The Federal Reserve. Dec 6, 2013.
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