The Federal Reserve Bank of Kansas City relies on members of its various advisory councils to offer unique perspectives and provide important contributions that help the Federal Reserve in its consideration of key policy issues. Each advisory council comprises members from various community and regional business and organizational entities that are important to the Tenth Federal Reserve District and national economies.
“It is important for the Fed to form and maintain advisory councils because it provides a forum for the Fed leadership to obtain additional input from various stakeholder members of the effect of current lending, the flow of goods and trade, as well as the impact of economic assumptions,” said Michael Collins, who is president and CEO of Port KC, the port authority district for Kansas City, and a member of the Kansas City Fed’s Economic Advisory Council.
Economic Advisory Council (EAC) members represent business and labor from the Tenth District and meet twice a year with Kansas City Fed staff to offer insight on the regional economy.
“The Fed has access to so much data, big data,” said Katherine Gold, who is president and CEO of Goldbug, the largest children’s accessory designer and distributor in the United States, based in Colorado. “I think the EAC helps the Fed focus on economic activity and risks that big data may mask or marginalize. We bring economic realities to life.”
Gold had no background in either monetary policy or economics when she joined the EAC eight years ago. She says the council has been a two-way learning experience—she learns about monetary policy and economics from the Kansas City Fed and council members provide their knowledge of business to
“I really care about our customers, parents and their children,” she said. “Moves by the Fed really affect Main Street USA.”
The Bank’s Community Development Advisory Council (CDAC) also meets twice a year with Kansas City Fed staff. Members come from financial institutions, nonprofits and businesses to offer insight on economic and community development issues in the region.
“My hope is to share the perspective of the community to raise concerns facing the region and to discuss and share best practices,” said Shelley Marquez, who has been a member of the CDAC since 2010. “I also want to understand how the community development needs are being addressed in other markets and is there an opportunity to collaborate.”
Marquez is a 34-year veteran of banking and the senior vice president community development manager for a team of professionals across 17 states.
“I believe it is important to share trends, needs and issues facing the Tenth District and the impact the Federal Reserve Bank can have with key decisions and how they respond to those needs.”
Other Bank advisory councils include the Community Depository Institutions Advisory Council (CDIAC), whose members represent banks, thrift institutions and credit unions in the Tenth District. They meet twice a year to provide perspective on lending issues, the economy and other issues of interest to community depository institutions. One of its members each year represents the Tenth District at a CDIAC meeting with the Board of Governors in Washington, D.C.
Members of the Payments Advisory Group represent financial institutions in the Tenth District. They meet periodically to provide insight on developments in the U.S. payments system and advise on actions the Federal Reserve might take to ensure the system’s safety and efficiency while providing broad access. There also is the Community Advisory Council, which meets with Federal Reserve Board in Washington, D.C. Members represent various sectors of the nation’s regional economies and offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on low- and moderate-income populations. Three of the CAC members are from the Tenth District.
“Advisory councils provide tremendous insight and advice as the Federal Reserve creates and maintains key policies that promote stability and confidence in our local, regional and national economies,” said Esther George, president of the Federal Reserve Bank of Kansas City.
Advisory Council Members
Economic Advisory Council
(Established in 1985)
Michael Collins, president and chief executive officer, Port KC, Kansas City, Mo.
Katherine Gold, President, Goldbug, Inc., Aurora, Colo.
Ken Lackey, chairman of the board, Nordam, Tulsa, Okla.
John Latenser, owner, Neff Packaging Systems, Kansas City, Kan.
Steve Martin, president and chief executive officer, Blue Cross Blue Shield, Omaha, Neb.
Caleb McCaleb, owner and president, McCaleb Homes, Edmond, Okla.
Taylor Merritt, chief executive officer, Merritt Aluminum Products Company, Fort Lupton, Colo.
Jim D. Neiman, president and chief executive officer, Neiman Enterprises, Inc., Hulett, Wyo.
Emil Ramirez, director, United Steelworkers District II, Independence, Mo.
Dan Solomon, chief risk officer, Koch Industries, Inc., Wichita, Kan.
Pat Vincent-Collawn, chairman, president and chief executive officer, PNM Resources, Albuquerque, N.M.
Bridgette Williams, deputy director, Heavy Constructors Association of Greater Kansas City, Kansas City, Mo.
Community Development Advisory Council
(Established in 2002)
Darla LaPointe, chairwoman, Winnebago Tribe of Nebraska, Winnebago, Neb.
Marie Longserre, president and chief operating officer, Santa Fe Business Incubator, Santa Fe, N.M.
Shelley Marquez, senior vice president and community development manager, Wells Fargo Bank, Denver, Colo.
Clyde McQueen, president and chief executive officer, Full Employment Council, Kansas City, Mo.
Susan Plumb, executive vice president and director, Bank of Cherokee County, Tahlequah, Okla.
Steve Radley, president and chief executive officer, NetWork Kansas, Wichita, Kan.
John Santner, Midwest regional director, NeighborWorks America, Kansas City, Mo.
Craig Showalter, president and chief executive officer, Wyoming Community Foundation, Laramie, Wyo.
Katrina Washington, broker/owner, Stratos Realty Group LLC, Oklahoma City, Okla.
Community Depository Institutions Advisory Council
(Established in 2011)
Lyne Andrich, executive vice president and chief financial officer, CoBiz Financial, Denver, Colo.
Deron Burr, president and chief executive officer, People’s Bank of Seneca, Seneca, Mo.
David Burrage, president and chief executive officer, FirstBank, Atoka, Okla.
Robert Chavez, President and chief executive officer, Sandia Laboratory Federal Credit Union, Albuquerque, N.M.
John J. Coyne, III, president and chief executive officer, Big Horn Federal Savings Bank, Greybull, Wyo.
Hebert Hardwick, chairman of the board, Merit Bank, Overland Park, Kan.
Kyle Heckman, president and chief executive officer, Flatirons Bank, Boulder, Colo.
Kevin Larson, president, CharterWest Bank, West Point, Neb.
Patricia (Trish) Minard, president and chief executive officer, Southwest National Bank, Wichita, Kan.
Leo Schumacher, chief executive officer, Lincoln Federal Savings Bank, Lincoln, Neb.
Kim Withers, president and chief executive officer, Meridian Trust Federal Credit Union, Cheyenne, Wyo.
David Wright, president, AMG National Trust Bank, Englewood, Colo.
Payments Advisory Group
(Established in 1995)
Scott Copeland, executive vice president, BancFirst, Oklahoma City, Okla.
Alan Fosler, senior vice president and cashier, Union Bank & Trust Company, Lincoln, Neb.
Mark Frank, executive vice president, CoBiz Bank, Denver, Colo.
Jane E. Haskin, president and chief executive officer, First Bethany Bank & Trust Co., Bethany, Okla.
Janet Howe, executive vice president, ANB Bank, Colorado Springs, Colo.
Steve Lindgren, executive vice president and chief operating officer, Cornhusker Bank, Lincoln, Neb.
Tim Lyons, president, TTCU The Credit Union, Broken Arrow, Okla.
Russell Oatman, senior vice president, First National Bank of Omaha, Omaha, Neb.
Suchitra Padmanabhan, president, CBW Bank, Weir, Kan.
Jim Reuter, president, FirstBank Data Corporation, Lakewood, Colo.
Bob Thurman, chief executive officer, Credit Union of America, Wichita, Kan.
Tamara Vande Velde, first vice president and chief information officer, Capitol Federal Savings, Topeka, Kan.
Community Advisory Council
(Established in 2015)
Patrick Dujakovich, president, Greater Kansas City AFL-CIO, Kansas City, Mo.
Adrienne Smith, president and chief executive officers, New Mexico Direct Caregivers Coalition, Placitas, N.M.
Catherine Wilson, professor, University of Nebrask-Lincoln College of Law, Lincoln, Neb.