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Press Releases


For immediate release March 5, 2001

ATLANTA FED RECOGNIZES CHAFIN, FEDAK AND SMITH WITH PRESIDENT’S AWARD

The Federal Reserve Bank of Atlanta has awarded the annual President’s Award for Excellence to V.W. Chafin, Kay Fedak and Shirley Smith. The awards were presented by Jack Guynn, president and chief executive officer of the Atlanta Fed, in a recent ceremony. The President's Award recognizes select individuals from throughout the Sixth Federal Reserve District who have distinguished themselves by their outstanding performances.

Chafin is a section manager in cash services with a 34-year record of excellent service. For the majority of his career, he has worked in the cash paying unit, where his performance has consistently been rated outstanding. He also has an exemplary attendance record — perfect for 14 consecutive years. Throughout his tenure with the bank, Chafin has been instrumental in the success of several key initiatives, including the implementation of the unfit currency destruction process at the Miami Branch in 1972 and the one-way flow concept in Atlanta in 1976. In 1996 he was a member of the Cash Services Olympic Committee that analyzed volume trends and coordinated workflow internally and with carrier staff.

Fedak is a manager of the payment services administration and settlements units in the Nashville Branch of the Atlanta Fed. She has a record of consistently exemplary performance. Throughout her 24-year career, she has worked in service, accounting and payment services. She is recognized throughout the District as a valuable technical resource on many issues. Fedak served on a three-member team responsible for rewriting the credit float standard operating procedures for the System. She is often called upon to support Branch, District and System initiatives.

Smith is a section manger in the accounting department. She has been with the Atlanta Fed for 31 years. Smith has a reputation for strict attention to detail and careful adherence to appropriate controls and policies that govern her job. During her career Smith has brought favorable recognition to the Bank by achieving high standards of excellence in accounting.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia and sections of Louisiana, Mississippi and Tennessee. As part of the nation’s central banking system, the Atlanta Fed participates in setting national monetary policy, supervises numerous commercial banks and provides a variety of financial services to depository institutions and the U.S. government.

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