Meet the Staff: Alex Gale

WHAT DREW YOU TO ORIGIN SC ORIGINALLY? AND HOW HAS THE ORGANIZATION CHANGED SINCE?

I was first drawn to Origin after seeing how important the work that we do is, particularly the Representative Payee program. My mother has worked for the company for a long time, and I have always been impressed by how hard everyone works for their clients. Since I haven’t been here that long, the company hasn’t changed much. However, I have been here for the rebranding from Family Services Inc to Origin SC and I cannot tell you enough times how great I think the rebranding has gone! I love our name, the new colors schemes, and our saying: Your Path to Home Starts Here!

What has surprised you the most about working at Origin SC?

What has surprised me the most about working at Origin is how much I have learned so quickly. Everyone that I have worked with is exceptionally knowledgeable about their programs and the services that we provide. I still feel like I learn something new every day! I was also surprised at how many of our services that we offer for free. Thanks to all of the grants and professional working relationships that we have developed over the year, we are able to provide very important services to those in need without them needing to pay a dime, such as our Victims of Domestic Abuse programs. 

What is an experience that has really shaped who you are? 

I would have to say the experience that has most shaped who I am was my time at Hampshire College. I was exposed to new ideas that I had never even thought about before. The diversity of the school really forces students to face what they don’t know, what they may not be comfortable with, and to have conversations with people that you might never have had otherwise. For instance, I became friends with two individuals at the school. The first, names Anas, was a 20 year old Palestinian man who had been shot by Israeli soldiers when he was 14 because he and his friends were throwing rocks at them. The other was Noah, a 22 year old Israeli man who spent 9 months in a Palestinian prison camp after getting captured during his mandatory military term. To my enormous surprise, these two were great friends! They helped establish a program at the school to bring together people from opposing viewpoints to share their themselves and their ideas, with the inevitable eventuality of realizing that we aren’t nearly as different from each other as we would sometimes like to think we are.

How has Origin SC helped you in your career development?

Origin has been invaluable to my career development in ways I never thought possible. The standards of practice and quality of our services, not to mention the wide range of services that we offer, continues to impress me as I learn more about the company. The experience that I have had so far, and specifically the opportunity to work with experienced and passionate professionals, has really inspired me to think bigger, work harder, and challenge myself to grow as an individual.

What is the one thing in this world you are most proud of?

I am most proud of the work I have done on the LIFT program. It has been an honor to assist our clients, individuals and families, to find a house to call home! Many of these clients are achieving homeownership for the first time, and many of them have been working up to this point for several years. It is a special kind of feeling when you hear the overwhelming joy in someone’s voice as they watch their dreams come to life before their very eyes. It is a humbling experience and I’m so glad to be able to be a part of it. 

Fa-la-la-la-Financial Stress!

It shouldn't be a surprise that consumer credit counseling agencies see a spike in the number of people seeking help come the first of every year. Every January and February, the there is a 25 percent increase in consumer credit counseling clients across the nation - most seeking assistance recovering from their holiday spending. Robert Manning, senior research fellow at the University of Houston and author of Credit Card Nation: The Consequences of America’s Addiction to Credit, says that the country’s ethics regarding credit have completely changed. Now, not only is debt accepted, but it is encouraged through rewards programs and easy access to substantial credit.

To make sure you start the New Year off on a good financial foot, there are two ways to combat holiday debt: preventative measures and practical repayment.


Preventative Measures:

1.  Only spend what you have.

Too many people make the huge mistake of using credit as income. Approval for $1,000 more on your credit limit does not equal a $1,000 a month raise in pay! You should only charge items on your credit card that you would be able to pay for in cash. Think of credit cards as a step in the transfer of money, not as a loan until payday.

2. Leave your card at home.

If you are not going out with the intention of making purchases, why not avoid the temptation altogether? If you plan to go to the store and buy a gallon of milk with cash, then, you have no reason to even take your credit card into the store. If you can’t resist the urge to spend, eliminate it!

3. Buy gifts year round.

Breaking news: Christmas comes every single year at the exact same time. That’s right! From Christmas of this year, you have exactly 364 days to prepare for the next round of merry madness. If you know who you are going to buy for year after year, then take advantage of deals throughout the year when they happen. By the next Christmas, you will have saved time, money, and the stress of having so many extra expenditures at one time.


Practical Repayment:

1. Make more than the minimum payment.

Most credit card statements have some indicator of how long it will take you to pay back off your card if you only make minimum payments. When you chose to make only the minimum payments on your credit card bill, your payment is mostly going to interest that has been accrued and not the actual charges that you have made. Making only the minimum payment can lead to a false sense of security and a hole that is only growing deeper and deeper.

2. Focus on the cards with the higher interest rate first.

If you have multiple credit cards with outrageous balances on them, after the minimum payment is made on each card, focus on the cards with the highest interest rate. After that card has been paid off, move on to the card with the next highest interest rate. This method will help you save on accruing interest. If possible, transfer the balance on your higher interest cards to your lower interest cards.

3. Overwhelmed? Speak with an Origin credit counselor!

Here at Origin, we have a team of licensed credit counselors who are here to help you get out of debt and manage you credit score. We will give you expert advice on the best payment methods for your specific situation to get you out of debt faster and on a path toward financial freedom. And, if eligible, you can enter our Debt Management Program to pay off your debts in five years or less.

To learn more about our Debt Management Program, click here or call 843-735-7802!

Gifts that Count Without Counting Dollars

Spreading holiday cheer doesn't have to break your budget. Giving your time, talent, or just a smile or kind word can lift another person's spirit without costing you a penny. Here are some ways to give this season without spending a lot of money:


Give Blood

On average, we all have about a gallon and a half of blood in our bodies—so why not roll up a sleeve and donate a pint that will go to save up to three lives. In the United States alone, approximately 32,000 pints of blood are used each day and 4.5 million Americans undergo blood transfusions each year. Winter is an especially difficult time for blood banks as drives are cancelled across the nation due to inclement weather. This holiday, donate your life-saving blood without paying a penny. You might even get a free pop and T-Shirt from your donation site! To learn about the local Red Cross Blood Donation Centers, click here.

Adopt a Grandparent

As our population of older Americans continues to grow, so does our need for programs to help these people lead full, productive lives. Both seniors living alone and within senior homes can use someone to share stories with, run errands with, and feel invested in. According to the University of California, 18% of senior citizens live alone and about 43% of these seniors report that they feel lonely on a regular basis. Socialization is a key factor in seniors’ health and can slow the progression of physical and cognitive illnesses.

Love, Inc. is a local nonprofit that provides senior services and programs within area assisted living homes. Click here to learn more.

Volunteer Time at a Local Nonprofit

From local soup kitchens, to churches, to children’s programs, nonprofits are always begging for volunteers to give their time and talent to help the community. You might be able to share your expertise in areas such as business development or tax preparation or simply help out by sorting donations or reading to kids. Find your volunteer niche and reap the benefits of giving while meeting new people! For volunteer opportunities in the Charleston area, click here.

Origin SC is always looking for volunteers! To learn about opportunities to volunteer at Origin SC, click here.

Help a Neighbor with Chores

Have an elderly neighbor or know someone who might have some health issues that prevent him or her from getting around easily? Offer to mow their lawn, rake their leaves, or drive them to the store! This will take a huge burden off of that individual as well as their families.

Shop at a Local Thrift Store

Many thrift stores such as Goodwill, the Salvation Army, and Habitat for Humanity ReStore shops not only have great finds for rock bottom prices, but give the money that they make through their stores to do other good in the community. Goodwill Industries provide job training and employment placement services. Proceeds from ReStore sales support Habitat for Humanity’s mission to make sure everyone in the world has a decent place to live. To learn more about Palmetto Goodwill, click here. To learn more about Habitat for Humanity ReStore, click here.

Babysit for a Single Parent

According to a 2015 study by Child Care Aware, There were over 186,000 single parent families in South Carolina. Even more alarming, the cost of adequate child care makes up 31% of the income for a single mother. Got nothing to do on a Friday night? Why not give a single parent the night off and spend the evening playing dress-up, tea parties, or power rangers?  He or she will be glad to catch a break!

Be a Pet Foster Parent

Pet foster parent program allow cats and dogs to receive more personalized care and attention as they wait for adoption. Often victims of abuse or neglect, these furry ones can be difficult to care for in a shelter environment with limited one-on-one attention. Foster pet programs give these animals a temporary home where they can better adjust while waiting to be adopted. The Charleston Animal Society has a foster animal program. Learn more about it here.

Invite a Friend Over for Dinner

The easiest way to make conversation and get to know one another is over a nice hot meal. Invite a friend over who may be going through a difficult time and enjoy a home cooked meal together. They will appreciate your hospitality and the opportunity to relax and have a stress-free meal will help take their mind off of whatever it is their dealing with. This will also keep that leftovers plate from sitting in the back of the fridge, forgotten.

Be a Mentor

You don’t have to be a teacher, a coach, or a counselor to be a positive role model for a student. Adolescence is an important period of development and young people need knowledge from experience, advice, and encouragement from people outside of direct authoritative roles such as parents and teachers. 59% of mentored teens earn better grades. 27% are less likely to begin using alcohol. Mentored youth have greater likelihoods of going to college, improved self-esteem, and increased socioemotional development. A few great mentoring organizations here in Charleston include Big Brothers Big Sisters, Be a Mentor, and Reading Partners!

Leave Positive Reviews

With the number of people rushing to the internet with the slightest bad experience, it is nice for businesses to get a positive public comment or review. This can really make a difference in a potential new customer using their product or service. If you have used a company and are satisfied with what you received, let people know about it! 88% of consumers trust online reviews as much as recommendations from friends. Sites such as Yelp, Yahoo, Angie’s List and Facebook all allow you to share business reviews.

Donate Rewards

Many credit cards and business rewards programs allow members to donate points to a nonprofit of their choice. American Express has the Members Give program allowing cardholders to donate $10 for every 1,000 points to any non-profit registered with their program. Southwest Airlines also has a list of charities that points can be donated to. Rather than leaving those points to expire before you can use them, put them to good use through these point donation programs.

Double Your Donation

In the spirit of corporate philanthropy and employee belongingness, many companies will match charitable gifts made by their employees, sometimes up all the way up to 100%. Our local corporation, Boeing, matches donations up to 100% up to $6,000! Find out if your employer participates in a gift matching program and stretch your dollar even further!

To donate to Origin SC, click here! 

Community Events- November 2016

Exhibit "When Visions Become Paintings":
Location: Real Estate Studio
214 King Street
Charleston, SC 29403
Days: Mondays thru Saturdays until December 6th
Time: 10 AM - 6 PM, Daily

Susanne Frenzel and Faye Sullivan host this FREE fine art exhibit. This exhibit is a collection of the diverse, abstract, and representational work the two have creaed in the past year.

Bike Rodeo and Safety Fair:

Location: John L. Dart Library
1067 King Street
Charleston, SC 29403
Days: Saturday, November 12th
Time: 10:30 AM - 12:30 PM

Take part in a free bicycle safety course and check out more than 20 interactive community exchibits for both parents and kids!

Success Stories: Paul and Louise

One of the greatest motivations at Origin SC are the stories of clients, who have gone through our programs, and found themselves in a better place than where they began. These are the stories of Paul and Louise, both clients from our Homelessness Prevention Department.

Paul

Paul Kulp, a client of the Housing Stability department, was experiencing homelessness with nowhere to go. He lived in Pennsylvania before returning to South Carolina where he eventually slept anywhere he could. This led to him staying with some people who took advantage of him. Origin stepped in and worked to get him into One80 Place, but he was unable to stay due to having personal issues with another resident at the shelter. We placed him in a hotel to prevent him from sleeping outdoors, then, we used the Emergency Solutions Grant to place him in his own apartment and gave him a few months of assistance to help him get on his feet. Paul has now been stably housed since August 2016 and is very happy with his place.

Louise

Louise McCray was one of the first people to be taken out of tent city by Origin SC. She experienced homelessness for several years with no income to support herself; she was the perfect candidate for Lease on Life, a program that provides permanent supportive housing to chronically homeless individuals. She has been stably housed since February 2016 and has been approved for her supplemental security income benefits so that she is now able to contribute towards her rent and utilities. She is very happy with her apartment, and she is doing extremely well since being housed. She is truly a success story!

Sponsor Louise, Paul, and others in the Housing Stability program this Fall! Donations made here will go directly to helping our clients this Holiday season! We will also be accepting gifts of unopened hygiene and home essential items for Paul and Louise. Please email Katie to coordinate.

You can also personally wish Paul and Louise a Happy Holidays by submitting your Holiday wishes for them via a 30-second video. Video submissions should be in .MP4 or .MOV file format and emailed to

Gabri-EL with the subject: “Holiday Wishes!”

Please complete this form prior to submitting videos. Submissions will be accepted until December 16th.

Fact or Fiction

Most veterans have received treatment from the U.S. Department of Veteran Affairs. Fiction

According to its own estimates, the VA will only reach slightly more than 40% of America’s homeless veterans.

Veterans who are not homeless are living in stability. Fiction

About 1.5 million other veterans are considered at risk of homelessness due to poverty, lack of support networks, and dismal living conditions in overcrowded or substandard housing.

Homeless veterans tend to experience homelessness longer than their non-veteran peers. Fact

Veterans spend an average of nearly six years homeless, compared to four years reported among non-veterans.

Penny Pinchin' Cuisines

Cooking on a budget doesn’t have to be a chore. Check out these low cost recipes that the entire family will enjoy!

Juicy Whole Turkey

Ingredients:

• 16 lb. turkey, thawed, inside packets removed

Brine:

• 1 gallon buttermilk
• 8 tablespoons kosher salt
• 2 tablespoons poultry seasoning
• 1 table spoon black pepper
• 6 cloves garlic, crushed
• 1 white onion, chopped

Inside Cavity:

• 1 teaspoon salt
• 1 teaspoon pepper
• 1 apple
• 1 orange

Seasoned Butter:

• 1 stick butter
• 2 tablespoons olive oil
• 1 tablespoon Cajun seasoning
• 1 tablespoon poultry seasoning
• 1 teaspoon oregano
• 1 teaspoon basil
• ½ teaspoon thyme
• ½ teaspoon garlic flakes
• ½ teaspoon paprika

Instructions:

1. Combine the brine ingredients in a large bowl.
2. Line a large bowl, pot or bucket with an oven roasting bag.
3. Place the turkey into the bag and pour in the brine.
4. Tie the bag, making sure all the air is out and the buttermilk brine is completely surrounding the turkey.
5. Refrigerate overnight.
6. Preheat oven to 325 degrees.
7. Rinse the brine off completely.
8. Dry the turkey with paper towels until completely dry.
9. Combine the salt and pepper and rub inside of the turkey cavity.
10. Stuff the cavity with an apple and orange.
11. Combine all of the seasoned butter ingredients.
12. Brush this butter mixture generously onto the turkey, until covered with butter. Reserve some of the butter if desired.
13. Place turkey in a roasting pan, breast side up.
14. Place on the lower rack in the oven and back uncovered for 3 hours and 45 minutes to 4 hours.
15.  Cover with foil for the last 45 minutes (if you are content with the browning) and also remove the apple and orange at this point.
16. Remove from oven when done.
17. Let rest for 20 minutes.
18. Enjoy!

Tips: Feel free to stuff the turkey with fresh herbs, onions, garlic, etc. Don't brine past 24 hours. Don't overcook. Use the thermometer and cooking guide. (Oven temperatures can vary.)

Homemade Cranberry Sauce

Ingredients:

• 12 oz. fresh cranberries
• ¾ cup sugar (can add more or less)
• ½ cup fresh orange juice (juice of 2-3 oranges)
• ½ cup 100% pomegranate juice

Instructions:

1. In a saucepan over medium heat, add cranberries, sugar, orange juice and pomegranate juice.
2. Stir to dissolve sugar.
3. Let simmer over medium heat until almost all of the cranberries have popped.
4. Stir occasionally and continue until sauce has thickened and most of the liquid has evaporated.
5. Pour into a serving dish.
6. Sauce will thicken and set as it cools and gets better the next day.
7. Serve.

Tips: Replace the pomegranate juice with cranberry or apple juice or water, if desired. This gets better as it sits so make it ahead. It will also thicken and set as it cools. Don’t skip the fresh orange juice. 

Meet the Staff: Elizabeth Wincenciak

WHAT DREW YOU TO ORIGIN SC ORIGINALLY? AND HOW HAS THE ORGANIZATION CHANGED SINCE?

My good friend (Kristin Bastian) worked here before I did, and when there was a position available that I was interested in, I applied and got it. I started out as a rep payee counselor and really enjoyed working with the clients; it was an eye opening experience that taught me a lot. 

What has surprised you the most about working at Origin SC?

I don’t think anything surprises me anymore. I have dealt with a lot of interesting scenarios over the past 4 years. I enjoy helping our clients through difficult situations and helping them towards success and stability. 

What is an experience that has really shaped who you are? 

I think a lot of the clients and families that I have helped have shaped me in some way. Everybody’s story is humbling, and it makes me realize that we all need to be grateful for the things that we have, even if we don’t have much. 

How has Origin SC helped you in your career development?

I kind of fell into my current position here at Origin SC in December 2013, and I think that it is the right fit for me. I enjoy what I do very much. Origin SC has always been very supportive of me, and I appreciate that. 

What is the one thing in this world you are most proud of?

I am very proud of all of the individuals that I have helped get into their own place or helped to stay in their own place. Everyone needs a little bit of help sometimes, and the fact that I played a role in helping these individuals is a great feeling. 

Beyond Combat: The Hidden Story Behind the Homeless Veteran

We know that homelessness among veterans is a pressing issue, but how are men and women going from successful positions in the armed forces to life on the streets back at home? Here are some of the root causes of why America’s Finest are unable to meet their basic needs upon leaving the service.

Mental Illness
Studies show that approximately half of all veterans suffer from some sort of mental illness. Many veterans are victims of chronic depression that may have begun before their time of service or may have worsened or developed from Post-Traumatic Stress Disorder (PTSD). Other mental illnesses that can result from PTSD include Obsessive-Compulsive Disorder (OCD), Anxiety Disorders, Social Phobia, and Schizophrenia. Often times, these illnesses are left untreated or the medications to combat them lead to further health issues and unwanted side effects.

Substance Abuse
Approximately two-thirds of veterans deal with substance abuse issues. Many of these individuals are also victims of mental illness. Often times, such tendencies began before a person’s time of service and was only temporarily resolved because of the military’s strict policies on drug and alcohol usage. Without the constant regulation on those habits, many veterans quickly slip back into their old ways or develop new bad habits as a way to cope with mental illness.

Employment Disadvantage
Though our military takes pride in its advanced training, many of the jobs and skills within the military are not transferable to civilian life. A soldier might have been the best machine gunner or tank pilot in his or her unit and received great acclamation for that accomplishment; however, there is little to no need for such positions in the everyday world. Some skills such as teamwork and strategic planning are transferable, but unfortunately they are not always recognized by employers as equal to civilian work experience. Effects of mental illness and substance abuse also complicate the ability of veterans to get or maintain employment.

Social Marginalization
Many veterans were marginal individuals before their time of service and had difficulties coping in normal social situations. Upon return, many simply fall back into their former status in society with minimal support from friends or family. Others were fine in the civilian world before, but have a difficult time readjusting. Much of this marginalization is a result from mental illnesses, substance abuse, and disadvantages in employment. During their service, veterans are surrounded by people who share similar experiences with them. Some find it difficult to relate to others and maintain relationships once they return home.

Limited Capacity of Assistance Organizations
Many organizations are committed to helping veterans, but there is not enough assistance capacity to reach all of the veterans who are in need. The VA can serve approximately 92,000 veterans a year—making a laudable dent. However, there is an estimated 500,000 veterans living on the street an any given time during the year. Another drawback is the fact that many veterans are hesitant to seek help. Many do not want to seek help with substance abuse issues because of the fear of criminal punishment. Others simply have been mentally conditioned to not seek help as it is a sign of weakness.

If you know a veteran who is struggling, encourage him or her to get help right away! Refer him to our Veterans Services Department by emailing Elizabeth Winceniak or calling 843-735-5512.

One Less Homeless Vet: Mission Accomplished

Here at Origin SC, we help hundreds of veterans each year who either need homes or need assistance in keeping the housing that they have. One of our most beloved stories from our One Less Homeless Vet program is “Don”. Don is 68 years old, and he served during the Vietnam War. He suffered from macular degeneration, a disease that causes an individual to gradually become blind. As he slowly lost his sight, he was not able to keep up with his neighborhood homeowner’s association obligations. Although Don was current on his monthly mortgage payments, he did not realize that his HOA dues had gone unpaid for nearly eight years.

Don’s HOA filed foreclosure with a remaining debt of $35,600 due to excessive fees, administrative costs, etc. At the foreclosure hearing, the judge was outraged with the excessive administrative and attorney fees, so he made the default equal to $5,000 for Don. Since the veteran lived in Charleston, Origin SC was able to provide a National Fair Housing Alliance (NFHA) grant of $5,000, and the foreclosure was dismissed. Upon attending an income verification session with Origin SC, it was determined that both the HOA dues and monthly mortgage payments were affordable for Don. Thanks to NFHA assistance, Don is able to keep up with his payments and stay in the home that he has loved for years.

Position of Power: What You Need to Know About the Federal Reserve

Last month, Atlanta Federal Reserve Bank President Dennis Lockhart announced that he will be leaving office on February 28, 2017.  At that time, Lockhart will have served as Fed President for 10 years, the maximum term that the position allows. 

There is a lot of debate right now of who should be Lockharts successor. Many groups are calling for more diversity among Federal Reserve Bank Presidents. Perhaps you are wondering, well how does this affect me? The Federal Reserve has a large influence on the health of the economy. The price of goods, the strength of the American dollar, and the rate of unemployment, are all partially controlled by decisions made by the Federal Reserve.  Here is a short breakdown of what the Federal Reserve is, what they do, and how it directly affects your personal financial situation.

What is the Fed?

The Federal Reserve was founded by Congress in 1913 in response to the financial panic of 1907.  At this time, banks were running out of money, and Congress agreed that there needed to be a system of larger banks helping smaller banks to keep adequate amounts of money in the economy.

The Fed is made up of twelve Federal Reserve District Banks that each serve a district area. Each district bank is responsible for obtaining economic data on their region and hearing out the needs of businesspeople. Eight times a year, the presidents of each district bank meet with the Federal Reserve’s Board of Governors to discuss options for policy change that would best benefit the public. The Federal Open Market Committee (FOMC) is the policymaking body that is comprised of the seven members of the Board of Governors and five of the twelve District Bank Presidents.

The next FOMC meeting will be held November 1-2 in Washington D.C. 

What do they do?

The Federal Reserve Act was amended in 1977 to state that the objectives of the Fed’s monetary policy are to promote “employment, stable prices, and moderate long-term interest rates.” This is often referred to as dual mandate.

The primary function of the Federal Reserve is to loan money to smaller, private banks. Banks make money by loaning money to customers with interest. Because of this, at a given time, most of a bank’s assets are in the form of receivables. Meaning they have money that belongs to them but it is currently owed to them—therefore not on-hand, available for use. The Fed fills that gap by loaning money to banks so that they have cash on hand to continue writing loans for everyday people like you and me. 

Just as private banks loan money to customers with interest, the Fed also charges interest for private banks to borrow money from them. By setting this rate of interest, the Fed can control how easy or how difficult it is for private banks to get these loans. When the Fed sets their interest rates high, it is difficult for private banks to obtain money, therefore they cannot turn around and loan money to customers as easily. When the Fed sets their interest rates low, it is easy for private banks to obtain money and they can give out many more loans at lower rates.

How does it affect me?

When the economy is slow—prices are high and people do not have the money to do everything that they would like to do—the Federal Reserve will purposely lower interest rates. In doing so, private banks can get more money, and the public will have more money to spend. The increased spending will boost the health of the economy.

When the economy is doing well and there is a large amount of spending by the public, the Fed will increase rates so that private banks do not have as much to distribute to the public. This will decrease spending and control inflation.

Inflation is the rate at which the general prices for goods and services is increasing. Essentially, when there is a large amount of money available to the public, there is also a high amount of spending (high demand of goods and services). Such high levels of spending will allow businesses to charge higher prices for their products. If so many people want the item, it is likely they will not mind paying a higher price for it. To keep this from happening, the Fed will increase interest rates, therefore decreasing consumer spending, and prices. 

Demand: a consumer’s desire and willingness to pay a price for a specific good or service

Dual Mandate: the objectives monetary policy as set by Congress. They are maximum employment, stable prices, and fair interest rates

Inflation: the general increase in prices and fall in the purchasing value of money

Interest: money paid at a particular rate for the use of money lent or for delaying the repayment of a debt

Federal Open Market Committee: policymaking body of the Federal Reserve that is composed of the seven members of Federal Reserve Board of Governors and five of the seven District Reserve Bank presidents

Federal Reserve: the central bank of the United States; created by, but acting separately from Congress

Federal Reserve Act: 1913 Congressional act establishing the Federal Reserve System, amended in 1977 to include the provisions of dual mandate

Federal Reserve Board of Governors: comprised of seven members that are nominated by the President and confirmed by the Senate

Federal Reserve District Banks: represent the twelve Federal Reserve Districts and are responsible for carrying out the day-to-day operations of the Federal Reserve System