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FDIC Chairman Signs Statement of Support for FDIC Employees Who are Members of National Guard and Reserve Units

PR-55-2005 (6-23-2005)
Media Contact:
Clyde Reid (202-898-3533)

FDIC Chairman Donald E. Powell today signed a declaration of support for FDIC employees who are members of the National Guard and Reserve units at a ceremony at FDIC headquarters in Washington, D.C. In attendance was Bob Hollingsworth, Executive Director of the National Committee for Employer Support of the Guard and Reserve, an agency of the Department of Defense.

Chairman Powell spoke proudly of the FDIC’s support of employees serving their country through the National Guard and Reserve. “The FDIC has a long tradition of supporting its many employees who serve their country not only through their fine work with the FDIC, but who go ‘above and beyond’ in their service to America as members of the Guard and Reserve,” said Chairman Powell.

The FDIC has more than 50 employees serving as Reservists in the U.S. military. About 20 of those employees are currently on active duty, and many of them have been called to serve in the most troubled areas, including Iraq.

“As a matter of FDIC policy, those brave men and women can carry out their duties secure in the knowledge that their jobs will be waiting for them when they return and that any difference between their military salary and their FDIC pay will be made up by the Corporation,” said Chairman Powell.

Hollingsworth noted, “A Statement of Support serves two very vital functions: First, it demonstrates the strong level of support for our Guard and Reserve, which is important during this critical time. Secondly, it sends a clear message to the service members that while they’re serving their country, they do not have to worry about their civilian jobs.” He added, “Today’s declaration of support is a significant event not only for the FDIC, but for all Federal Civil Service Employees who witness this outstanding example.”

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system. The FDIC insures deposits at the nation’s 8,930 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at, by subscription electronically (go to and may also be obtained through the FDIC’s Public Information Center (877-275-3342 or (703) 562-2200).

Last Updated 6/23/2005

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