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VCC President Becomes Chair of Richmond Fed’s New Community Investment Council


Richmond Fed Press Release

March 15, 2011


Richmond Fed Forms Community Investment Council

Richmond, Va.


The Federal Reserve Bank of Richmond announced the formation of a Community Investment Council and the appointment of members.

The primary purpose of the Council is to inform the Bank about emerging issues and trends in communities across the Fifth Federal Reserve District, including low- and moderate-income neighborhoods and communities. The information gleaned from the Council will be used to help shape Richmond Fed policy decisions and to contribute to the Bank's strategic direction.

Council members are chosen to represent unique perspectives on community investment and local economic growth. This includes leaders from rural and urban communities who understand the challenges to and opportunities for local economic growth, especially with respect to community investment mechanisms and policies.

Members of the Richmond Fed Community Investment Council are:

  • Jane Henderson (Chair), president and CEO, Virginia Community Capital, Christiansburg, Va.
  • Sam Erwin, president and CEO, Palmetto Bank, Greenville, S.C.
  • Mike Franklin, owner, Franklin's Brewery, Hyattsville, Md.
  • Dr. Jonathan Gueverra, CEO, Community College of D.C., Washington, D.C.
  • Chris Kukla, senior counsel for government affairs, Center for Responsible Lending, Durham, N.C.
  • Barbara Lang, president and CEO, D.C. Chamber of Commerce, Washington, D.C.
  • Connie Nyholm, co-owner, Virginia International Raceway, Alton, Va.
  • Marlo Scruggs, vice president, community development specialist, BB&T, Charleston, W.Va.
  • Mark Sissman, president, Healthy Neighborhoods, Baltimore, Md.
  • Clarence Snuggs, deputy secretary, Maryland Department of Housing and Community Development, Crownsville, Md.
  • Gayle Williams, executive director, Babcock Foundation, Winston-Salem, N.C.
  • Scott Woods, president and CEO, South Carolina Federal Credit Union, Charleston, S.C.

Members will serve three-year terms on a rotating basis and may serve two consecutive terms. Three members will be replaced each year.

The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Richmond Fed serves the Fifth Federal Reserve District, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.


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About Virginia Community Capital:
With offices in Christiansburg, Richmond, and Springfield, Virginia Community Capital (VCC) is dedicated to the prospect of building wealth for all through our lending, deposits, and advisory services. As a community development financial institution (CDFI), our mission is to offer innovative, flexible financial products designed to support housing and community development ventures, increase jobs, and encourage sustainable communities. In partnership with our for-profit bank, Community Capital Bank of Virginia (CCB), the non-profit VCC offers loan capital broader and more flexible than bank lending in low-to-moderate income communities in underserved geographies and markets. Learn more at  vacommunitycapital.org.