Katherine D. Ortega facts for kids

Quick facts for kids Katherine Ortega
Ortega in 1987
38th Treasurer of the United States
In office September 26, 1983 – July 1, 1989
President	Ronald Reagan George H. W. Bush
Preceded by	Bay Buchanan
Succeeded by	Cathi Vásquez Villalpando
Personal details
Born	(1934-07-16) July 16, 1934 (age 91) Tularosa, New Mexico, U.S.
Political party	Republican
Spouse	Lloyd Derrickson
Education	Eastern New Mexico University (BA)
Signature

Katherine Dávalos Ortega (born July 16, 1934) is a former American politician. She served as the 38th Treasurer of the United States. This important role meant she was in charge of the country's money. She worked under Presidents Ronald Reagan and George H. W. Bush. Katherine Ortega also made history as the first woman to lead a bank in California.

Early Life and Education

Katherine Ortega was born in Tularosa, New Mexico. Her parents were Donaciano Ortega and Catarina Dávalos. She was one of nine children in her family. Her family had lived in New Mexico for a long time. Her great-grandfather was one of the first people to settle in Tularosa in 1862.

Katherine's father owned a blacksmith shop. Later, he opened a small restaurant with a dance hall. The whole family worked there. Katherine started working at the restaurant when she was just 10 years old. She learned to operate the cash register. At home, she spoke only Spanish. She learned English when she started elementary school.

As a teenager, Katherine worked as a teller at a bank. She saved money to go to college. She attended Eastern New Mexico University. In 1957, she graduated with high honors. She earned a degree in Business and Economics. She first wanted to be a teacher. But she faced some challenges. So, she decided to open an accounting firm. She started it with her sister in Alamogordo.

Banking Career and Success

In 1968, Katherine Ortega moved to Los Angeles. There, she became a certified public accountant (CPA). She joined a big accounting firm. She also worked at Pan American National Bank. This bank was started by Romana Acosta Bañuelos.

Katherine became the bank's vice president in 1971. That same year, Romana Bañuelos became the U.S. Treasurer. In 1975, Katherine Ortega became the president of Santa Ana State Bank. This made her the first woman to lead a bank in California.

In 1977, Katherine returned to New Mexico. She helped run her family's accounting firm. Under her leadership, the company grew a lot. It became the Otero Savings and Loan Association. By 1983, it was worth $20 million. During this time, she received many awards for her business skills.

Joining the Government

Katherine Ortega was interested in politics from a young age. She often said her father, a lifelong Republican, inspired her. She started by helping the Republican Party in New Mexico. She worked with women and Hispanic groups.

After returning to New Mexico, she helped with Senator Pete Domenici's re-election campaign in 1978. Senator Domenici became an important supporter for her. In 1982, President Ronald Reagan asked her to join a committee. This committee advised on small and minority businesses. Later, she was appointed to lead the Copyright Royal Commission. This group set fees for cable TV and music.

In 1983, Senator Domenici suggested Katherine Ortega for U.S. Treasurer. President Reagan officially nominated her on September 12, 1983.

Serving as U.S. Treasurer

Katherine Ortega was sworn in as U.S. Treasurer on October 3, 1983. She was the tenth woman to hold this job. She was also the second Hispanic person to be Treasurer. At her ceremony, three past U.S. Treasurers were there.

As Treasurer, Katherine Ortega managed a large budget. She helped raise $40 million to restore the Statue of Liberty. She also helped design new money to prevent fake bills. She worked to make the West Point Mint an official United States Mint.

Katherine Ortega was known for her excellent public speaking skills. She was chosen to be the main speaker at the 1984 Republican National Convention. She was the first Hispanic woman to give the lead speech at a national political convention.

She was the highest-ranking Hispanic person in the government at that time. She was also one of the few high-profile women. The White House often asked her to connect with Hispanic communities and women's groups. In 1984, she traveled almost 60,000 miles for these appearances.

In 1986, she studied the idea of changing the colors of $50 and $100 bills. This was to make it harder for criminals to use fake money. Parts of her ideas were later used in U.S. currency. After President Reagan left office, President George H. W. Bush asked her to stay on. She retired from the role in July 1989. She then returned to her family business in New Mexico.

Life After the Treasury

After her time as Treasurer, Katherine Ortega went back to private business. She also stayed involved in public service. In 1990, President Bush appointed her to represent the U.S. at the United Nations General Assembly. She also advised the National Park Service. She worked with Executive Women in Government, a non-profit group.

Katherine Ortega served on the boards of several large companies. These included Ralston-Purina and Kroger. She continued to support women in business. She worked with Catalyst, a business advisory firm. She has received honorary degrees from several universities.

In 2002, Katherine Ortega received the Horatio Alger Award. This award recognized her achievements. It honored her journey from humble beginnings to a successful career.

Personal Life

Katherine Ortega often says her family inspired her. She believes her family taught her about hard work and determination. She especially credits her father. She said he taught her that "we were as good as anybody else, that we could accomplish anything we wanted."

Katherine Ortega was briefly married in the late 1970s. In 1989, she married Lloyd J. Derrickson. He was a lawyer for Merrill Lynch. She does not have any children.