Plagge Named Chair of Chicago Federal Reserve

Jeff Plagge, president and CEO of Northwest Financial Corp in Arnolds Park, IA has been named as Chair of the Chicago Federal Reserve Banks Community Depository Institutions Advisory Council (CDIAC).  The purpose of the Council is to promote communications between the Chicago Fed and representatives from the community depository institutions in the Seventh District.

As the Chairman of the Chicago Federal Reserve Banks CDIAC Council, he also becomes a member of the Board of Governors CDIAC Council in Washington, DC, along with the Chairs of the other Federal Reserve District Banks CDIAC Councils.  The Council provides first-hand input to the Board of Governors on the economy, lending conditions, and other issues.

Plagge is the immediate past Chairman of the American Bankers Association (ABA) and has served on many local, state and national boards, committees and task forces.  He currently serves on the ABA Board of Directors, is a board member of the ABA Mutual Insurance Board, serves on the Delta Dental of Iowa Board of Directors and is a member of the Iowa Agriculture Secretary Northey’s Strategic Advisory Board. He is a former Board Member of the Federal Reserve Bank of Chicago.

Northwest Financial Corp. is a two bank, privately owned financial services holding company.  The banks include Northwest Bank of Spencer, IA and First National Bank of Creston, IA. The two banks collectively hold $1.6 billion in assets and have 30 offices throughout Iowa and eastern Nebraska. Other entities within Northwest Financial Corp. include Northwest Wealth Management, LLC and Northwest Commercial Credit Corporation.