The Federal Reserve System was established in 1913 in order to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Fed sets the nation’s monetary policy, serves as the fiscal agent for the United States Treasury and supervises banking institutions, ensuring their stability and compliance with banking regulations. In addition, the Fed is also the banker’s bank, distributing currency and coin, transferring funds, as well as processing checks for financial institutions.
The Twelfth District of the Federal Reserve is headquartered in San Francisco, California, serving the largest geographic district within the Federal Reserve System. With branch offices in Los Angeles, Seattle, Portland, and Salt Lake City, and a cash processing center in Phoenix, we provide banking services to nine western states, as well as Guam, American Samoa, and the Northern Marianas.
The Federal Reserve Bank of San Francisco employs nearly 2000 people and our diverse work force comes from a variety of backgrounds, including accounting, economics, finance, operations, and computer science.
A career with the Federal Reserve Bank of San Francisco provides a unique perspective on the financial community, one you would not find anywhere else. The Fed itself is distinctive, and we believe that the individuals who work for us have an exceptional talent to perform at a level that sets them apart from their peers in other organizations. Our standards require the utmost in professional performance. In return, we offer career challenges that extend beyond supporting the bottom line, and your contributions make the difference. The picture is clear –– you belong at the Federal Reserve Bank of San Francisco.
MissionThe purpose of the Consumer Affairs Website is to provide assistance in resolving complaints against financial institutions. We also provide the public with information regarding their rights under the Federal consumer banking laws and regulations by responding to inquiries concerning issues related to consumer bank laws, and by making available various pamphlets designed to help consumers understand the provisions of the consumer banking laws and regulations.
San Francisco is the headquarters of the Twelfth Federal Reserve District, which includes the nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. Branch offices are located in Los Angeles, Portland, Salt Lake City, and Seattle, with a cash processing center in Phoenix. The data presented in this document do not include the District's island territories.
Geography and Demographics
Of the Twelve Federal Reserve Districts, the Twelfth District is the largest, covering about 1.3 million square miles, or 35 percent of the nation's area.
- The District's estimated 61.8 million people accounted for 20 percent of the total U.S. population in 2007.
The District also ranks first in the size of its economy:
- Its 26.6 million workers accounted for about 19 percent of the nation's total nonfarm employment and they earned around 21 percent of the nation's total personal income in 2007.
- Altogether, District states accounted for approximately 22 percent of the nation's exports of manufactured goods in 2007.
- In broad terms, the District's industry mix mirrors that of the rest of the nation.
- However, the District employs a slightly higher share of workers in the following major sectors: construction, information, professional and business services, and leisure and hospitality.
- Several of the nation's leading information technology (IT) centers are located in the District. As a percentage of total nonfarm workers, the District employs a considerably larger share of IT workers than the rest of the nation. Moreover, these District workers on average earn more in annual wages than their counterparts in the rest of the nation.
CultureAbout Us The Federal Reserve's Community Development Department gives financial institutions, community based organizations and government entities the tools they need to effectively address community development issues affecting low- and moderate-income individuals and communities. Mission The mission of the Community Development function of the Federal Reserve System is to support the economic growth objectives of the Federal Reserve Act by promoting community development and fair and equal access to credit. To this end, the Community Development department seeks to promote: • The active engagement of depository institutions in traditionally underserved markets for credit and other banking services;
- Cooperation between community organizations and financial institutions to their mutual benefit;
- Greater public understanding of financial services products, their intrinsic benefits and risks, and the consumer's rights and responsibilities as expressed in pertinent regulations;
- A better understanding, on the part of policymakers, community leaders, and private decision-makers, of the process of community development, the factors critical to success, and best practice models of community development programs; and
- A better understanding of the effect of Federal Reserve policies on the less advantaged segments of the economy.