The Federal Reserve Bank of St. Louis has appointed five new members to its Community Development Advisory Council, three of which are from Arkansas. The council meets twice a year to inform St. Louis Fed President James Bullard and Community Development staff about relevant issues and development efforts in the Eighth Federal Reserve District.
Headquartered in St. Louis, with branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the states that comprise the Federal Reserve’s Eighth District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation’s central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, provides payment services to financial institutions and the U.S. government, and promotes financial literacy, economic education, and community development.
Council members are executives representing nonprofit organizations, financial institutions, universities, government and foundations from across the Eighth District, which includes the state of Arkansas, and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. Council members serve staggered terms.
Appointed to three-year terms ending in 2024:
- Kim Davis, senior advisor at Home Region Program, Walton Family Foundation in Bentonville;
- Martie North, senior vice president and director of Community Development/Community Reinvestment Act at Simmons Bank in Little Rock;
- Candace Williams, executive director of Rural Community Alliance in Little Rock;
- Rory Thomas, president of Memphis Medical District Collaborative in Memphis; and
- Trisha Finnegan, senior vice president and chief strategy officer at Community Foundation of Louisville in Louisville.
Other CDAC members serving in 2021:
- Mervin Jebaraj, director of Center for Business and Economic Research at Sam M. Walton College of Business, University of Arkansas in Fayetteville;
- Tracy Hall, president of Southwest Tennessee Community College in Memphis
- Adam Hall, vice president and community and economic development manager at Fifth Third Bank in Louisville;
- Robyn Heidger, senior vice president of Enterprise Bank and Trust in Clayton, Mo.;
- Jessica Love, executive director of Prosperity Indiana in Indianapolis;
- Bridget McDermott Flood, executive director of Incarnate Word Foundation in St. Louis;
- Sara McGibany, executive director of Alton Main Street in Alton, Ill.; and
- Clifton Williams, community development officer at Guaranty Bank & Trust Company in Belzoni, Miss.