Federal Reserve Bank of Chicago Money Museum, Chicago

(300+ reviews on the web)
Specialty Museum Museum
The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.ResponsibilitiesAs one of the Reserve Banks that make up the Federal Reserve System, the Chicago Fed is responsible for: Helping to formulate national monetary policy. The Chicago Fed's CEO, Charles L. Evans, helps formulate monetary policy by taking part and voting in meetings of the Federal Open Market Committee (FOMC).Providing financial services such as cash, check clearing and electronic payment processing. Each day the Federal Reserve System processes millions of payments in the form of both paper checks and electronic transfers. These payments services are offered to institutions in the Seventh District on a fee basis. Because of a nationwide reduction in the use of checking instruments, the Chicago Fed and most other Reserve Banks ceased processing paper checks on November 17, 2009 and electronic checks in 2010. Items previously routed to this facility are now routed to the Federal Reserve Bank of Cleveland or to the Federal Reserve Bank of Atlanta. Supervising and regulating state-chartered banks that are members of the Federal Reserve System, bank holding companies, and financial holding companies. These organizations are located within the Seventh Federal Reserve District.
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Reviews
TripAdvisor
  • I never been to this musuem before, Im glad that step out on a leap of faith and dare to do something different. The museums is free and informative. It is a hidden jewel.  more »
  • My son and I really enjoyed visiting here. It took about an hour. Zero wait, zero cost. We both learned a lot. The exhibits are very well done. Great for kids but also informative for adults. You can ...  more »
  • We stopped in here on a cold day and were surprised at how much we enjoyed it. Very informative and quite a bit of fun. Good for all ages.  more »
Google
  • A great piece of financial history & staff were extremely professional. A must see for anyone visiting the downtown loop area. It's only a few blocks away from the Willis Tower & next door to the Board of Trade.
  • Great little museum. Very educational. Small, so it's not one you'll spend hours at, but you can definitely spend an hour there, if you read a lot of what is shown on the exhibits. There's not much hands-on, but the giant 4x4x4 glass cube of dollar bills (one million) is worth standing next to and getting your picture taken. Might be the only time you will ever get that close to a million! It's a great place to educate yourself on the birth and history of money and it's evolution in America as well as the birth of the Federal Reserve Bank and it's role in American history. You need to check it out.
  • Very small museum Great staff and security Museums entry is free This museum is great for all ages This could be only one time in your life you get so close to see and touch one million dollar
  • When in the Loop you should make time to stop at the Chicago Fed Money Museum off the lobby of the Federal Reserve Bank of Chicago! This museum is great for all ages with lots of activities and learning opportunities and so much history its worth the visit. Be sure to have a valid government issued ID for gaining access to the museum. There's airport type security to get into the museum as well. You have a chance to see different types of current and old currency. You can have your photo take with $1,000,000.00 in a briefcase as well while in the museum. It's always a fun trip to take to check this museum out.
  • Defiantly something to see at least once in your life, thought it might be boring but found it quite interesting!