Madeline McWhinney Dale (March 11, 1922 – June 19, 2020) was an American economist and banker. She was the first female officer of the

Federal Reserve Bank A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve A ...

and the bank's first female vice-president. She was also the first woman candidate, and first female trustee, for the board of trustees of the Federal Retirement System.

Early life

Born Madeline McWhinney in

Denver, Colorado Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...

, the eldest of seven children. Her father, Leroy McWhinney, founded the

Graland Country Day School Denver () is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States#State capital, capital, and List of municipalities in Colorado#, most populous city of th ...

she attended. He was a lawyer and president of the Worldwide Belief Firm. Her mother, Alice McWhinney (née Barse), was a Smith College graduate with a degree in economics. She then went on to Sandia School in

Albuquerque, New Mexico Albuquerque ( ; ), ; kee, Arawageeki; tow, Vakêêke; zun, Alo:ke:k'ya; apj, Gołgéeki'yé. abbreviated ABQ, is the most populous city in the U.S. state of New Mexico. Its nicknames, The Duke City and Burque, both reference its founding in ...

. She earned her undergraduate degree in economics from

Smith College Smith College is a Private university, private Liberal arts colleges in the United States, liberal arts Women's colleges in the United States, women's college in Northampton, Massachusetts. It was chartered in 1871 by Sophia Smith (Smith College ...

and an MBA from

NYU New York University (NYU) is a private university, private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-United States Secretary of the Treasu ...

in 1947. She did some work toward a PhD at NYU, and spoke as a visiting lecturer, member of the advisory board and president of the alumni association.

Career

In 1943 Dale was hired as an economist for the Federal Reserve. In 1955 she ran for election to be on the board of trustees of the Retirement System of the Reserve. In 1960, she became the bank's first female officer as chief of the newly created Market Statistics Department. She also served as the bank’s first female vice president. In the 1970s, she was president of the First Women's Bank, founded by

Betty Friedan Betty Friedan ( February 4, 1921 – February 4, 2006) was an American feminist writer and activist. A leading figure in the women's movement in the United States, her 1963 book ''The Feminine Mystique'' is often credited with sparking the se ...

. Dale served as the vice president of Phi Beta Kappa Associates, and was chosen to serve on the first New Jersey Casino Control Commission in 1980. She then joined the board of Atlantic Energy Corporation where she served for 10 years and became a member of the Advisory Committee on Professional Ethics of the New Jersey Supreme Court. In 1983 she joined the

Whitney Museum of American Art The Whitney Museum of American Art, known informally as "The Whitney", is an art museum in the Meatpacking District and West Village neighborhoods of Manhattan in New York City. It was founded in 1930 by Gertrude Vanderbilt Whitney (1875–1942), ...

as its chief financial officer. She served as a board member of the Carnegie Corporation, as trustee and chairwoman of the Kettering Foundation, and life trustee and treasurer of the Institute for International Education.

Recognition and awards

Dale was awarded the Smith College Medal in 1971. She received the Meritorious Alumni Award from NYU in 1962 and was named "Man of the Year" in 1971. In 2007 she was awarded the Nancy Nye Priest Alumni Award.

Personal life

She was married to John D. Dale Jr. From 1977–1994 she was the president of her husband's consulting firm.

References

External links

* Interview
Woman; Women's Banks and Credit Unions
1976-01-20, National Records and Archives Administration, American Archive of Public Broadcasting {{DEFAULTSORT:Dale, Madeline McWhinney 1922 births 2020 deaths Federal Reserve economists Businesspeople from Denver Smith College alumni New York University alumni