Federal Reserve Bank of Richmond Baltimore Branch facts for kids
The Federal Reserve Bank of Richmond Baltimore Branch Office is like a local office for the Federal Reserve Bank of Richmond. It helps manage money and financial services in Maryland, the Washington D.C. area, Northern Virginia, and parts of West Virginia. This office is part of a larger area called the Fifth District.
The Baltimore branch started in March 1918. It helps banks get coins and paper money. It also works to keep the financial system stable. Plus, it partners with local groups to support fair housing efforts. The current head of the branch is William R. Roberts.
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What is the Federal Reserve?
The Federal Reserve is the central bank of the United States. It helps keep the country's economy healthy. Each main Federal Reserve Bank has smaller branch offices, like the one in Baltimore.
How the Branch is Led
Each branch of the Federal Reserve has a group of leaders called a board of directors. This board usually has five or seven members. Most of these directors are chosen by the main Federal Reserve Bank in Richmond. The rest are chosen by the Board of Governors of the Federal Reserve System.
These directors serve for three years. One director is chosen each year to be the chairman of the board for that branch.
Visiting the Baltimore Branch
The Baltimore branch offers tours for schools and private groups. You can visit with up to 30 people if you make a reservation. Just remember, you can't bring cell phones or cameras inside the building.
The branch also helps with the annual Fed Challenge. This is a competition that helps students learn about the nation's central bank and how it affects the economy.
Awards and Recognition
The Federal Reserve Bank of Richmond's Baltimore Branch has won awards for its work. In 1997, it received the silver U.S. Senate Productivity and Maryland Quality Award. In 2008, a person named Dorothy Voorhees won an award from the branch for her great achievements in studying economics.
Changes in Services
In 2009, the Baltimore branch stopped processing checks. Banks that used to send their checks there now send them to the main office of the Federal Reserve Bank of Philadelphia.
Historic Building
Quick facts for kids |
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Federal Reserve Bank of Richmond, Baltimore Branch
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 Location in Baltimore
Location in Maryland
Location in the United States
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| Location | 114 E. Lexington St., Baltimore, Maryland |
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| Area | 0.3 acres (0.12 ha) |
| Built | 1926 |
| Architect | Taylor & Fisher |
| Architectural style | Late 19th And 20th Century Revivals, 2nd Renaissance Revival |
| NRHP reference No. | 83002933 |
| Added to NRHP | January 27, 1983 |
The old Baltimore Federal Reserve Branch Bank building is a very old and important bank building. It was built in 1926. It has ten stories and is made of stone and steel. The building was designed in a style called Second Renaissance Revival.
The outside of the building has rough limestone walls. It also has fancy carvings and huge arched windows on the first floor. Inside, the main banking room is very grand. It has polished marble floors, teller stations, and tall Corinthian columns. The building was made bigger in 1956. Today, it is an apartment building called the Lenore Apartments.
This historic building was added to the National Register of Historic Places in 1983. It is also part of the Baltimore National Heritage Area.
Working at the Branch
People who work at the Federal Reserve Bank of Richmond Baltimore Branch Office are not government employees. This means they don't get the same benefits as federal workers, like certain healthcare plans or government pensions. Their pay comes from the expenses of the Reserve Bank itself.
The branch has offered paid internships for college students. These internships are for junior and senior students. Students usually work between 16 and 24 hours a week and need to move to Baltimore, Maryland for the internship.
