NEW MEMBERS NAMED TO MINNEAPOLIS FED ADVISORY COUNCIL MEMBERS OFFER INSIGHT ON COMMUNITY BANKING AND THE REGIONS ECONOMY

The following information was released by the Federal Reserve Bank of Minneapolis:

Three community bank experts were appointed to an advisory council this spring by Federal Reserve Bank of Minneapolis President and CEO Neel Kashkari.

The Community Depository Institutions Advisory Council(CDIAC) provides information, advice, and recommendations to the Minneapolis Fed president from the perspective of thrifts, credit unions, and banks in the Ninth Federal Reserve District with total assets of less than $10 billion. The chair of the Ninth District CDIAC represents the district at meetings of the Board of Governors national CDIAC in Washington, D.C.

Appointed to the council in 2026:

Jack Hopkins

President and CEO, CorTrust Bank

Mitchell, South Dakota

Colleen Murphy

Chief Operating Officer, Whitefish Credit Union

Whitefish, Montana

Mark Oldenberg

President and CEO, Security Financial Bank

Durand, Wisconsin

Hopkins, Murphy, and Oldenberg will join seven returning members on the council.

The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nations central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin, and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.