ALBUQUERQUE, N.M. (12/28/15)--Robert Chavez, president/CEO, Sandia Laboratory FCU, Albuquerque, N.M., has been appointed to the Federal Reserve Bank of Kansas City’s Community Depository Institutions Advisory Council (CDIAC).
Chavez was nominated by Paul Stull, president/CEO of the Credit Union Association of New Mexico, and told Albuquerque Business First that the appointment was a year in the making and a surprise (Dec. 23).
The 12-member advisory council supports a federal-level council in the effort to convey the overall condition of the U.S. economy to the Federal Reserve.
“The idea is to provide input to the Federal Reserve about the economy, regulations here, (and) lending conditions,” said Chavez, who will serve as the only representative on the council from New Mexico. The Federal Reserve Bank of Kansas City oversees seven states, including Colorado, Kansas, Nebraska, Oklahoma, Wyoming, parts of Missouri and New Mexico.
Sandia can pair this victory with the growth it has experienced in 2015, as the credit union has seen memberships climb 7% on an annualized basis, according to Albuquerque Business First.
Earlier this year, Michael J. Castellana, president/CEO of SEFCU, Albany, N.Y., was named president of the federal-level CDIAC for 2016.
Castellana previously served as vice president of the council.