May 16, 2007

California Community Reinvestment Corporation President Joins
SF Fed's Economic Advisory Council

Mary F. Kaiser

San Francisco, May 16, 2007—The Federal Reserve Bank of San Francisco announced today that Mary F. Kaiser of California Community Reinvestment Corporation has joined the Bank’s Economic Advisory Council.

Ms. Kaiser is president of California Community Reinvestment Corporation (CCRC), a statewide multi-bank lending consortium, funded by various banks and investors. Ms. Kaiser became CCRC’s president and CEO in 1995, evolving the product lines to meet the increasing needs of membership as well as the low-income communities served.

CCRC provides long-term real estate financing and equity to affordable housing developments throughout California. Since inception, CCRC has approved more than $750 million in affordable housing loans and made 23,000 housing units available to California residents who earn 60% or less of the local area median.

Ms. Kaiser serves on the executive committee of the National Association of Affordable Housing Lenders, board of trustees of the Community Reinvestment Fund, and as a board member of the California Environmental Development Fund, and Pepperdine’s Seaver College Board of Visitors. She is also the past president of the Board of Trustees of the United Way of Ventura County, and past chair of the Board of the Ventura County Leadership Academy. She regularly speaks and writes on topics relating to affordable housing, community development and government housing policy.

The SF Fed’s Economic Advisory Council represents diverse industries and regions in the Fed’s Twelfth District. In her new role on the Economic Advisory Council, Ms. Kaiser will provide her observations and opinions to members of the board of directors and management of the San Francisco Federal Reserve Bank on the present state of the economy, and the current and pending developments in the community development industry. Members generally serve three-year terms at the invitation of the Bank’s president.

“It is an honor and important opportunity to be on the San Francisco Fed's Economic Advisory Council,” said Ms. Kaiser. “Innovative and effective community development is at the core of our economic health and quality of life.”

The balance of the Economic Advisory Council includes: Stephen M. Brophy (chairman), Page Land & Cattle Co., Phoenix, Arizona; Grace Evans Cherashore (vice chairman), Evans Hotels, San Diego, California; John P. Connolly, Actors’ Equity Association, New York City, New York; John H. (Jack) Gleason, ComPlan Advisors LLC, Paradise Valley, Arizona; Cathy Luke, Loyalty Enterprises, Ltd., Honolulu, Hawaii; Vivek Paul, Texas Pacific Group, San Francisco, California; and Roderick C. Wendt, JELD-WEN, inc., Klamath Falls, Oregon.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.

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