Chicago City Treasurer Melissa Conyears-Ervin is focusing on several key initiatives as she plans for 2025 and beyond. Having served nearly six years in the role, Conyears-Ervin oversees an office that manages nearly $14 billion in trading volume.
The Treasurer’s Office is responsible for maintaining records and accounts related to the city's operating funds and escrow accounts with various trustee banks. It also manages Chicago's investment portfolio, conducts educational programs, provides counseling, shares financial education information, and supports small businesses. Additionally, it serves as the banker, investor, and custodian of public funds for Chicago and its four employee pension funds.
Melissa Conyears-Ervin shared her background: "I was born in the Englewood neighborhood on the South Side and raised on the West Side in Austin by a single mother, and every day I work to keep taxpayers informed about what investments fall under my office."
Conyears-Ervin's priorities include driving economic growth, increasing business with local brokerage firms, and addressing Chicago’s $37 billion pension debt. She acknowledged the challenges posed by underfunded city pension funds: "The can has been kicked down the road for so long in the past...it is going to take more than making minimum payments (set by state legislation) to get caught up."
Her office collaborates with banks and brokerage firms to ensure financial stability through investments in bonds, money markets, mortgage- and asset-backed securities. The trading volume managed by her office grew from a little over $9 billion when she was elected in 2019 to over $13 billion today.
In supporting community development and economic growth, Conyears-Ervin highlighted programs such as the Building Wealth Today for Tomorrow Summit aimed at building generational wealth. The Money Matters Institute offers free money management and financial wellness programs.
Reflecting on her career trajectory, she stated: "I love being able to change lives...to help others have the opportunity to work wherever they desire."
This article was written by Wendell Hutson – Staff Reporter at Chicago Business Journal.