Katherine Davalos Ortega

Charles

It’s a long career path from bank teller to Treasurer of the United States .

Katherine Davalos Ortega was Treasurer of the United States during the administrations of Presidents Ronald Reagan and George Bush, (1983-1989) As Treasurer, Davalos Ortega’s signature appeared on millions of dollars of U.S. currency. But her first job in finance was as a teller at the community bank in her rural hometown of Tularosa, New Mexico .

While in high school, Davalos Ortega worked at Otero County State Bank to earn money for college. This bank, where the future Treasurer of the United States began her career, became a part of Wells Fargo in 1999. While in school, Davalos Ortega aspired to become a teacher, but she learned she likely would not be hired for a teaching position. In those years, prior to the huge movement for Civil Rights , routine discrimination plauged women and minorities. Davalos Ortega entered the accounting field instead, climbing steadily in accounting and financial services firms. In 1975 she became chief executive of Santa Ana State Bank, and the first woman bank president in California.

As her influence expanded, Davalos Ortega had become active in politics. She served on several federal commissions and advisory councils, and in 1983, was nominated as Treasurer by President Reagan. Davalos Ortega was the tenth woman and second Latina to hold the post. As Treasurer of the United States, Ortega oversaw production of coins and currency and the United States Savings Bond program. She also raised $40 million, through commemorative coin sales, to restore the Statue of Liberty and Ellis Island. Davalos Ortega gave the keynote speech at the 1984 Republican National Convention, the first woman of Hispanic descent to deliver a keynote at a national political convention.

Treasurer Davalos Ortega left her post, and Washington, in 1989. She returned to her family’s financial business in New Mexico, where she served on several corporate boards. In recognition of her lifetime achievements and rise from humble beginnings to the highest levels of public service, she received the Horatio Alger Award  in 2002.

Treasurer Davalos Ortega acknowledged her heritage at her swearing-in  in 1983. "And so," she said, "it is with a deep sense of honor and pride that I shall serve as our country's 38th Treasurer. And following the Hispanic tradition, I have chosen to have my name appear on our currency as Katherine Davalos Ortega. For in doing so, I will be honoring my father as well as my mother. Thank you."