 |  Thought you'd like to know -- this was in our newspaper this morning. Carl was thrilled to be reappointed. He loves this work and enjoys working with the other people on the board. It's given me the opportunity to travel with Carl a few times a year too which is just added bonus for me.
Carl tells me that the Federal Home Loan Bank System was formed in 1932 to help maintain the flow of money to banks in order for them to provide individual real estate mortgages. The Great Depression dried up most of the money.
The Federal Home Loan Banking System has grown to over $1.3-trillion in assets, is one of the largest banks in the world, is the single largest wholesale bank in the world (loans are made to member banks, not individuals) & is the single largest issuer of debt in the world.
I think this is pretty cool ... Kay
---
Dayton appointee returns to federal bank board
Dayton Daily News, Wednesday, October 31, 2007
CINCINNATI — Carl Wick, a retired NCR Corp. executive, and Cleveland banker Charles Koch have been appointed to the board of directors of the Federal Home Loan Bank of Cincinnati.
Each will serve a three-year term beginning on Jan. 1, 2008.
The Federal Housing Finance Board appointed Wick and Koch as public-interest directors, selected from nominees who represent consumer or community interest organizations involved in banking services, credit needs, housing or financial consumer protections.
Wick is currently chairman of the Federal Home Loan Bank of Cincinnati, but his term is ending. He has been a member of Ohio's State Board of Education since 2001. He retired from Dayton-based NCR in 1994 after 28 years with the company.
Koch is a longtime Ohio banking executive who retired in 2004 as chairman of Charter One Bank, N.A., of Cleveland.
| |