Katherine Dávalos Ortega (born July 16, 1934) is a former politician who was the 38th Treasurer of the United States. She served from September 26, 1983 to July 1, 1989 under Presidents Ronald Reagan and then George H. W. Bush. Ortega also has the distinction of being the first female bank president in the state of California.

Early life

Ortega was born in Tularosa, New Mexico to Donaciano Ortega and Catarina Dávalos. She was one of nine children. Her family had originally come to New Mexico when the area still comprised a territory. Ortega's paternal grandfather arrived from Texas in the 1880s while on her mother's side, her great-grandfather Luciano had been one of the original settlers of Tularosa in 1862.

Ortega's father, a former Justice of the Peace in nearby Bent, opened a blacksmith shop in Tularosa in 1928. By the 1940s, he owned a small restaurant with a dance hall attached in which the entire family worked. Ortega began to work in the restaurant at age 10, operating the cash register. Originally, Ortega grew up speaking only Spanish. She later learned English when she entered the local elementary school.

As a teenager, Ortega worked as a teller at Otero County State Bank in order to earn enough money for college. She attended Eastern New Mexico University and graduated with honors in 1957 with a bachelor's degree in Business and Economics. Initially wanting to become a teacher, Ortega was dismayed by repeated instances of discrimination and, instead, opened a small accounting firm in Alamogordo with one of her sisters, a certified public accountant.

Ortega returned to New Mexico in 1977 in order to help run the family accounting firm. Under her stewardship, the company grew into the Otero Savings and Loan Association and, by 1983, had assets of $20 million. During this time, Ortega garnered numerous academic and business accolades for her efforts. She often credited her father, a lifelong Republican, with her decision to join the Party. She was the tenth consecutive woman and the second-ever Hispanic to hold the office. At her swearing-in ceremony, three previous U.S. Treasurers attended: Francine Irving Neff, Bañuelos, and her immediate predecessor, Bay Buchanan. This was done in part to counter the selection of prominent New York governor Mario Cuomo at the Democratic National Convention.

After Reagan left office, Ortega was retained by the George H. W. Bush administration and reappointed to her post on January 20, 1989. Ortega has received honorary degrees from Kean University, Villanova University, and her alma mater, Eastern New Mexico.

Family life

Ortega has cited her family upbringing as her chief inspiration in life:

<blockquote>I am the product of a heritage that teaches strong family devotion, a commitment to earning a livelihood by hard work, patience, determination and . She has no children.

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