www.mybaycity.com
October 8, 2006
Rotary Article 1306
Rotarians Hear Presentation on Federal Home Loan Bank System
October 8, 2006
By: Stephen Kent
PROGRAM THIS WEEK: Auction of Rob Clark's Desk returns. This year Rob says that he may get some stuff from other people's desks as well. He reminded the club of how this works. He takes valuable items from his desk and puts them in plain brown paper sacks. Clues are given to the contents and the club is ask to bid. The club raises a nice little pot of cash for its programs and members get to take home items of great sentimental and historic value.
Oct. 17: Dr. Jerry Decker on Alternative Energy and Windmills
Club Announcements
International Night is this Thursday! The annual fund raiser look set to be one of the best yet. Over $27,000 has been received in sponsorships. The theme is Celebrating our Heritage and will feature foods from the various ethnic populations that built Bay City into the place it is today.
Kathy Czerwinski presented a Paul Harris Plus Five to member Carl Lockwood. Thanks Carl, we're all proud of you and all the Paul Harris Fellows in the club.
Congratulations to Griff Acker on being presented with the Jerome Yantz Excellence in Education Award. Griff is known for his work on Rotary's annual Career Days, but he has done much more in the area of education and is deserving of this distinction.
Cindy Chadwick shared a hard luck buck with the club saying that she was scheduled to go wine shopping with Rob Clark for the bucket of fun raffel. Members may remember the report of Cindy's last shopping trip with Rob. Cindy likes to get in, fill the list, and get out. Rob tends to change his mind a lot and exchange items. We look forward to the report on this trip.
Group Study Exchange - Outbound. Bay City's Connie Schweitzer has been selected as team leader to West Africa. Applications are being taken for non-Rotarians between the ages of 25 and 40 who would like to be join the team.
For a self described "hay seed from Pigeon", Paul Clabuesch has done pretty well. The third in line from a family of bankers from Pigeon, Paul is now both President of Thumb National Bank & Trust Co. as well as Chairman of the Federal Home Loan Bank in Indianapolis. He's also a past president of the Pigeon Rotary Club, a school teacher and a school football coach.
The Federal Home Loan Bank is one of three large government sponsored banking institutions, the other two being Fannie May and Freddy Mac. Founded just before the depression, the FHLB was designed to help Americans become home owners by providing money to Savings and Loan Banks.
Today the FHLBanks are the largest source of residential mortgage and community development credit in the United States. They and the other Federal banking institutions also attract investment funds from around the world.
The FHLB is composed of twelve banks, each with its own president and board of directors, located in cities around the country. The system has some 8,100 member banks that lend to the public. The system has over a trillion dollars in loans and has never lost a penny. "People just seem to want to make their house payments," said Clabuesch.
In his role as president of Thumb National, Clabuesch was pleased to report on the bank's acquisition of the former Bay County main branch library on Center Ave. The building is being remodeled at this time and will house the bank and a number of other tenants when it opens next year.
"We have enough marble in that building to pave Center Avenue", said Clabuesch. One option for that marble may be to incorporate it into the renovation of the Pier Marquette Depot as that project gets moving.
RotaryBayCity.org Rotary Club of Bay City Web Site
eClub-One:
Members with internet connections are encouragedto visit eClub-One monthly for a makeup. To get makeup credit you need to fill out the makeup form on that site. Print the acknowledgement for you receive and turn it in to receive credit. Be sure to enter our club's district number (6310) on that form.
Click this link to open eClubOne in a new window:
www.rotaryeclubone.org.
The Bay City Rotary Club meets at Noon each Tuesday at the Lumber Barons resturant on the West Side.
Rotary Club of Bay City Web Site
District 6310 meeting schedule
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