Headquarters | E. 6th St. and Superior Ave. Cleveland, Ohio, USA |
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Coordinates | 41°30′6.98″N81°41′25″W / 41.5019389°N 81.69028°W |
Established | May 18, 1914 |
President | Loretta Mester |
Central bank of | Fourth District
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Website | www.ClevelandFed.org |
The Federal Reserve Bank of Cleveland is one of 12 regional banks that make up the Federal Reserve System |
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]
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]
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]
Director | Title | Director Class | Term Expires |
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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 |
Cleveland, officially the City of Cleveland, is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located in Northeast Ohio along the southern shore of Lake Erie, it is situated across the U.S. maritime border with Canada and lies approximately 60 miles (97 km) west of Pennsylvania. Cleveland ranks as the most populous city on Lake Erie, the second-most populous city in Ohio, and the 54th-most populous city in the U.S. with a 2020 population of 372,624. The city anchors the Cleveland metropolitan area, the 33rd-largest in the U.S. at 2.18 million residents, as well as the larger Cleveland–Akron–Canton combined statistical area, the most populous in Ohio and the 17th-largest in the country with a population of 3.63 million in 2020.
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