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Local 1245 Leader Elected to The Fed

January/February 2001 IBEW Journal

The Federal Reserve Bank of San Francisco announced in December the election of Business Manager (and newly elected IEC Chairman) Jack McNally of Local 1245, Walnut Creek, California, to its board of directors. He was elected by the Feds largest member banks to represent non-banking interests in the districts nine western states.

Brother McNally, a native Californian, has served as Local 1245s business manager since 1980. He became a business representative at the local in 1968 and served as assistant business manager starting in 1976. A member of numerous boards and advisory groups, McNally is chairman of the California Coalition of Utility Employees and a Vice President and Executive Committee Member of the California Labor Federation, AFL-CIO. Local 1245 is the largest utility local in the IBEW, with some 19,000 members, primarily working for Pacific Gas & Electric, but also in the outside construction trade.

The Federal Reserve Bank of San Francisco provides wholesale banking services to financial institutions in nine western states. As the nations central bank, the Federal Reserve System formulates monetary policy, serves as bank regulator, administers consumer protection laws and is fiscal agent for the U.S. government.