|For immediate release|
The Federal Reserve Board on Wednesday announced the names of seven new members of its Thrift Institutions Advisory Council (TIAC) and designated a new President and Vice President of the Council for 2003.
The Council is an advisory group made up of twelve representatives from thrift institutions. The panel was established by the Board in 1980 and includes savings and loan, savings bank, and credit union representatives. The Council meets three times each year with the Board of Governors to discuss developments relating to thrift institutions, the housing industry, mortgage finance, and certain regulatory issues.
The new President of the Council for 2003 is Karen L. McCormick, President and CEO, First Federal Savings and Loan Association, Port Angeles, Washington. The new Vice President is William J. Small, Chairman and CEO, First Federal Bank, Defiance, Ohio.
The seven new members, named for two-year terms beginning January 1, 2003 are: