The Federal Reserve
by Rene Leon
When thinking of Downtown El Paso, one may conjure up images of certain buildings that reside in the city center. The Camino Real hotel, the Mills and the Cortez buildings are all easily identifiable edifices that are signature to Downtown. But there is one building that sits very unassumingly among these towers that is vital to not only El Paso’s economy but to the nation’s.
Occupying half a block at 301 E. Main, the El Paso Federal Reserve Bank is one of three branches of the Dallas Federal Reserve (the two other branches are in Houston and San Antonio). The Dallas Federal Reserve serves the 11th District of the Federal Reserve system, which includes the entire state of Texas, the southern half of New Mexico and the northern half of Louisiana.
The bank was first housed in a building at 200 S. El Paso St., across from the present-day Camino Real hotel, from 1918 to 1920. It then moved to another location on Myrtle, remaining there from 1921 to 1957, when it was moved to its current location.
Robert W. “Bill” Gilmer, the bank’s Vice President in Charge, says that over the years, the bank has served a number of functions, but it currently operates as a cash distribution center and a research center for border economic issues.
Below the ground level lies the beating heart of the bank’s operations. Immediately next to the passenger elevator is a steel- and glass-encased room that requires an electronic card to enter. Inside that room is a freight elevator used by armored car personnel delivering and receiving deposits and withdrawals.
That room then leads to a counting room, which is usually occupied by wheeled carts (large, 4-foot-by-4-foot carts) used to transport stacks of cash. The cash is stored in bundles made up of 10 individual straps, each of which contains a stack of 100 bills. When these carts are filled with bundles of $100 bills, the total monetary value contained inside is $28 million, which makes them the most expensive shopping carts in the world.
Money from the counting room is then carted to a counting machine that counts and straps the currency and determines whether it is fit for recirculation. The bills rejected by the machine are automatically shredded and collected to be recycled for new money printing.
The cash fit for recirculation is finally stored in the vault, which boasts a door that is several feet thick and has a complex system of locks, bolts and levers. Inside the vault is the unbelievable sight of millions of dollars sitting on crates. For a visual of this, imagine a convenience store filled with oversized boxes of cash— cash that just sits there, bored and restless.
The entire operation may sound like a tempting target to those with an itch to pull a caper, but those thoughts would quickly disappear at the sight of the bank’s security force. In fact, the bank employs more security officers than economists, administrators and researchers combined. Although size does matter, that security force is also very well-trained. On the same floor of the vault and counting rooms is a two-alley shooting range used by the federal officers to train for possible threats and attacks. (So don’t even think about it, OK?)
Sitting on the bank’s third floor (a somewhat less intimidating location) is the cafeteria, where the employees can have a good meal without leaving the premises, though they’re free to eat elsewhere if they choose. The cafeteria is also open to the public. Downtown workers and visitors can have a quick lunch at an unbeatable price since the meals are actually subsidized by the federal government.
So, if you are interested in the inner workings of our financial system (and you’re not planning a heist) or if you simply want a tasty meal in a unique setting, the Federal Reserve is definitely a gem in the heart of Downtown El Paso. 
