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March 15, 2011

Richmond Fed Forms Community Investment Council

Richmond, Va.

The Federal Reserve Bank of Richmond announced the formation of a Community Investment Council and the appointment of members.

The primary purpose of the Council is to inform the Bank about emerging issues and trends in communities across the Fifth Federal Reserve District, including low- and moderate-income neighborhoods and communities. The information gleaned from the Council will be used to help shape Richmond Fed policy decisions and to contribute to the Bank's strategic direction.

Council members are chosen to represent unique perspectives on community investment and local economic growth. This includes leaders from rural and urban communities who understand the challenges to and opportunities for local economic growth, especially with respect to community investment mechanisms and policies.

Members of the Richmond Fed Community Investment Council are:

  • Jane Henderson (Chair), president and CEO, Virginia Community Capital, Christiansburg, Va.
  • Sam Erwin, president and CEO, Palmetto Bank, Greenville, S.C.
  • Mike Franklin, owner, Franklin's Brewery, Hyattsville, Md.
  • Dr. Jonathan Gueverra, CEO, Community College of D.C., Washington, D.C.
  • Chris Kukla, senior counsel for government affairs, Center for Responsible Lending, Durham, N.C.
  • Barbara Lang, president and CEO, D.C. Chamber of Commerce, Washington, D.C.
  • Connie Nyholm, co-owner, Virginia International Raceway, Alton, Va.
  • Marlo Scruggs, vice president, community development specialist, BB&T, Charleston, W.Va.
  • Mark Sissman, president, Healthy Neighborhoods, Baltimore, Md.
  • Clarence Snuggs, deputy secretary, Maryland Department of Housing and Community Development, Crownsville, Md.
  • Gayle Williams, executive director, Babcock Foundation, Winston-Salem, N.C.
  • Scott Woods, president and CEO, South Carolina Federal Credit Union, Charleston, S.C.

Members will serve three-year terms on a rotating basis and may serve two consecutive terms. Three members will be replaced each year.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.


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