Your Fed, Your Voice: Luanne Cundiff
[MUSIC]
I'm Luanne Cundiff. I am president and CEO of First State Bank of St. Charles, Missouri, and I serve as the chair of the Community Depository Institutions Advisory Council for the St. Louis Fed, also known as the CDIAC.
The St. Louis Fed benefits from our CDIAC because it's the communication tool that they need to understand what's happening in real time in our local communities.
When we have our CDIAC meetings, we talk about a variety of different topics. We always start with our local economies and what is working and what is not.
They may see the data one way and we may see it a different way. And an important piece of that data is the conversations they have with all of us.
We can't have those that make monetary policy decisions living in a bubble. And the St. Louis Fed is the voice of Main Street because they solicit, actively, feedback from every area of the district that they serve. And it's not just sitting with bankers. It's sitting with the health care industry. It's sitting with the auto dealers. It's sitting with everyone that has an impact in economic prosperity in their communities.
Luanne Cundiff, President and CEO, First State Bank of St. Charles
Cundiff serves as the chair of the St. Louis Fed's Community Depository Institutions Advisory Council (CDIAC). This group advises the St. Louis Fed president on credit, banking and economic conditions facing their institutions and local communities in the Eighth Federal Reserve District. Here, Cundiff discusses the importance of sharing feedback with the St. Louis Fed about the state of the local economy. These conversations inform the Fed about the conditions of council members’ respective business areas and communities and provide valuable context to the economic data the Fed analyzes as it works to promote a strong and resilient economy for all.