NewsLink - 2011
2011 News Releases
New York Federal Reserve VIPs Visit Crystal Windows: Bank Executives Tour Factory, Meet with Employees
FLUSHING, NY, March 14, 2011 C Crystal Window & Door Systems hosted New York Federal Reserve Bank Executive Vice President Joseph Tracy and other bank executives for a visit of the Crystal facility and headquarters in Queens, NY on Friday, March 11, 2011. As part of its outreach efforts, the New York Federal Reserve Bank met that day with businesses and trade associations in Queens to discuss economic issues. As one of the largest manufacturers in New York, Crystal was a top destination in Queens.
We were very excited that Mr. Tracy and the New York Federal Reserve visited Crystal, toured our operations here and talked with our employees, said Steve Chen, Crystal?s Executive Vice President. Our business is directly tied to the economy of the region in terms of construction and real estate, especially in the residential and commercial sectors. This meeting was a great opportunity to discuss critical economic issues such as credit availability and interest rates with this prominent policymaking institution. Steve Chen is a member of the New York Federal Reserve Bank?s Advisory Council on Small Business and Agriculture.
Mr. Tracy and other members of the New York Federal Reserve Bank toured Crystal?s 225,000-ft2 headquarters and main factory, and viewed the fabrication and assembly of Crystal?s insulated glass units and aluminum and vinyl windows, including Energy Star? and advanced R-5 products. Following the tour, Mr. Tracy met with a diverse cross-section of Crystal employees to discuss a variety of topics including the economy, interest rates, business and consumer credit, tax incentives, the real estate market and Federal Reserve activities.
The New York Federal Reserve Bank is part of the Federal Reserve System and is the largest of the 12 regional banks in the system in terms of assets and volume of activity. The Federal Reserve Banks are responsible for setting monetary policy, supervising and regulating member banks, and facilitating the financial operations of the Federal government. In addition the New York Federal Reserve Bank is responsible for relations with foreign central banks, providing financial and foreign exchange services, investment transactions and annual reviews of operations. The New York Federal Reserve Bank stores the largest repository of gold reserves in the nation, and provides vault facilities for foreign central banks as well.
Crystal Window & Door Systems is one of the top 50 manufacturers in North America of replacement and new construction vinyl and aluminum window and door products and high-end fenestration systems. Crystal offers a full product line, rapid order-to-delivery times, quality workmanship, innovative product features and outstanding value. Crystal operates branches, subsidiaries and affiliates in Pennsylvania, Ohio, Missouri, Connecticut, New Jersey, Illinois, and Massachusetts. Crystal is dedicated to practicing green environmental initiatives in all aspects of corporate activities. For further information about Crystal and its products, call 718-961-7300, or visit the website at www.crystalwindows.com.