Federal Reserve Bank of Cleveland

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Federal Reserve Bank Of Cleveland
Federal Reserve Bank, Cleveland, Ohio LCCN2010630382.tif
Cleveland Federal Reserve
Federal Reserve Bank of Cleveland is located in Cleveland
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Cleveland is located in Ohio
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Cleveland is located in the US
Federal Reserve Bank of Cleveland
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).[citation needed] 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[edit]

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.

Board of directors[edit]

The following people are listed as on the board of directors as of 2017. 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 expire on December 31 of the year.[6]

Members of Board of Directors
Director Title Director
Class
Term
Expires
Todd A. Mason President and CEO, First National Bank of Pandora, Pandora, Ohio A 2017
Claude E. Davis CEO, First Financial Bancorp, Cincinnati, Ohio A 2018
Stephen D. Steinour Chairman, President, and Chief Executive Officer of Huntington Bancshares Incorporated Columbus, Ohio A 2019
Charles H. Brown Vice President and Secretary, Toyota Motor Engineering & Manufacturing, North America, Erlanger, Kentucky B 2017
George S. Barrett Chairman and CEO, Cardinal Health, Inc., Dublin, Ohio B 2018
David Megenhardt Executive Director, United Labor Agency, Cleveland, Ohio B 2019
John P. Surma (Chair) Retired Chairman and CEO, United States Steel Corporation, Pittsburgh, Pennsylvania C 2017
Dawne S. Hickton (Deputy Chair) Former President and CEO, RTI International Metals, Inc, Pittsburgh, Pennsylvania C 2018
Dwight Eric Smith President and Chief Executive Officer, Sophisticated Systems, Inc., Columbus, Ohio C 2019

See also[edit]

References[edit]

  1. ^ National Park Service (2010-07-09). "National Register Information System". National Register of Historic Places. National Park Service. 
  2. ^ Loretta J. Mester at federalreserve.gov
  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 Bank of Cleveland". The Federal Reserve. 5 August 2017. 

External links[edit]