Federal Reserve Bank of Cleveland Dedicates New Learning Center and Money Museum

On Thursday, December 8, 2005, the Federal Reserve Bank of Cleveland dedicated its newly completed Learning Center and Money Museum. The Learning Center will open its doors to the public on January 3, 2006.

"We are pleased to be able to provide this great new resource for students and teachers, and the communities that we serve," said Bank President and CEO Sandra Pianalto. "The Learning Center and Money Museum provides visitors of all ages with a unique opportunity to understand what gives money value and how the Federal Reserve helps to maintain that value."

A group of students from Shaker Heights Middle School in Shaker Heights, Ohio, were invited to participate in the dedication ceremony, along with the Bank employees who designed and managed construction of the $2.6 million facility.

The 6,530-square foot Learning Center and Money Museum houses two classrooms and 30 exhibits, including interactive games, videos, and informational displays.

At "Barter Island," visitors can play a video game and experience the challenges of living without money. They can ascend the "Savings Stairs," and see how, through the magic of compound interest, saving a little bit of money can really add up over time. At "You Look Like a Million Bucks," visitors can see their face pictured on a dollar bill. And they can "Ask the Experts" (some of today's leading academic economists) about outsourcing, inflation, or interest rates.

The Learning Center and Money Museum will offer teachers and students guided tours and a choice of educational activities relating to topics such as barter, saving and investing, inflation, and the Federal Reserve. Guided tours are also available for adult groups of 10 or more. All guided tours require advance reservations.

Beginning January 3, 2006, the Learning Center will also offer self-guided tours to the general public, Monday through Thursday (except holidays) between 10:00 a.m. and 2:00 p.m. No reservations are required for self-guided tours for groups of 1-9 individuals. However, groups of 10 or more individuals must make advance reservations.

To make a reservation or to get more information about the Federal Reserve Bank of Cleveland's Learning Center and Money Museum, individuals can visit the Bank's website at www.clevelandfed.org/learningcenter. They can also contact the Bank at Learning.Center@clev.frb.org or at 216/579-3188.

Photos of the Learning Center can be found at http://www.clevelandfed.org/for_the_public/tours/learning_center/learning_center_photos.cfm.

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, supervises certain banks and all bank holding companies, and provides payment services to depository institutions and the U.S. government. Payment services include check clearing, electronic payments, and the distribution and processing of currency and coin.

The Federal Reserve Bank of Cleveland, including its branch offices in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.