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Nov. 23, 2015

Board Members Elected to Federal Reserve Bank of Richmond

Richmond, Va.

The Fifth Federal Reserve District member banks elected the following individuals to the Board of Directors of the Federal Reserve Bank of Richmond for three-year terms effective January 1, 2016:

Susan K. Still — President and Chief Executive Officer, HomeTown Bankshares Corporation and HomeTown Bank, Roanoke, Virginia — was elected as a Class A director.

Catherine A. Meloy — President and Chief Executive Officer, Goodwill of Greater Washington/Goodwill Excel Center, Washington, D.C. — was elected as a Class B director.

Each Federal Reserve Bank has a nine-member Board of Directors. Three Class A and three Class B directors are elected to three-year terms by the stockholding member banks, and three Class C directors are appointed to three-year terms by the Board of Governors of the Federal Reserve System. Class A directors represent the stockholding member banks in each Federal Reserve District. Class B and Class C directors represent the public and are chosen with due consideration to the interests of agriculture, commerce, industry, services, labor and consumers.

As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.


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