MADISON, Wis.— Kim Sponem, CEO of $2.1-billion Summit CU here, has been named to a panel that offers input to the Federal Reserve on economic conditions.
Sponem has been appointed to a three-year term to represent the credit union industry on the Community Depository Institutions Advisory Council, which reports to the Chicago Federal Reserve System. The council includes representatives from credit unions, thrifts and banks in Wisconsin, Illinois, Iowa, Michigan and Indiana.
Sponem will meet with other council members twice a year to provide views on current business and financial conditions to the president and other senior officials of the Chicago Fed. Their contributions help the Federal Reserve System formulate national monetary policies.