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First Community’s Barks Serves on National Federal Reserve Council

A Missouri credit union leader is sharing the credit union perspective on a national level with the Federal Reserve.

Glenn Barks, president/CEO of First Community Credit Union (Chesterfield), was selected for the Federal Reserve Board’s 2013 Community Depository Institutions Advisory Council (CDIAC).  He is one of only two credit union representatives serving on the 12-person council.

Only one representative from each of the 12 Federal Reserve’s local advisory councils is selected to participate in the CDIAC.  Barks represents the 8th District.  He will serve on both the national and regional councils through 2016.

“It is an interesting group of individuals and it is great to represent the credit union industry,” states Barks. “I am happy that the Fed realizes that credit unions have an impact on the financial situation of many Americans in the U.S.   This puts us on a level footing with the banks and I am proud to represent First Community and the credit union industry.”

The other credit union representative on the CDIAC is Michael Castellana, president/CEO of SEFCU in Albany, New York.

“I would like to congratulate both Michael and Glenn on this prestigious and important assignment,” stated Credit Union National Association President/CEO Bill Cheney.

The CDIAC provides input to the Fed on the economy, lending conditions, and other issues.  Members meet with the Fed in Washington, D.C. twice a year.  For a complete list of the CDIAC participants, click here.