Wauwatosa, Wis. — 4/9/2019 — WaterStone President and CEO Doug Gordon has been appointed to chairman of the Federal Reserve Bank of Chicago’s Community Depository Institutions Advisory Council.
Gordon began his two year chair term on March 1, 2019.
“I am honored to represent Wisconsin, and the four other states in the seventh district, in meeting with the Fed Governors to aid in their strategic initiatives. We meet with Chairman Powell, and other Fed Governors, to give them a current perspective on our local economic and banking conditions to supplement their economic data,” said Gordon.
“The Community Depository Institutions Advisory Council (CDIAC) was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions,” according to the Federal Reserve Board’s website. “Unlike the Federal Advisory Council, CDIAC is not a statutory body, but it performs a parallel function in providing first-hand input to the Board on the economy, lending conditions, and other issues. Members are selected from representatives of banks, thrift institutions, and credit unions serving on newly created local advisory councils at the twelve Federal Reserve Banks. One member of each of the Reserve Bank councils is selected to serve on the CDIAC, which will meet twice a year with the Board in Washington.”
Gordon began his three year term with the Federal Reserve Bank of Chicago’s Community Depository Institutions Advisory Council on March 2, 2018.
About WaterStone Bank
WaterStone Bank, established in 1921, offers a full suite of personal and business banking products. The community bank has branches in Wauwatosa, Brookfield, Fox Point/North Shore, Franklin/Hales Corners, Germantown/Menomonee Falls, Greenfield, Oak Creek, Oconomowoc/Lake Country, Pewaukee, Waukesha/Brookfield and West Allis, Wisconsin along with a commercial lending branch in Minneapolis, Minnesota. WaterStone Bank is the parent company to Waterstone Mortgage, which offers mortgage banking offices in 25 states. For more information about WaterStone Bank, go to https://www.wsbonline.com. Follow WaterStone Bank on Facebook, Twitter, LinkedIn, and YouTube.
About the Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation’s central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.
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