Chicago City Treasurer Melissa Conyears-Ervin (Photo Credit: Chicago City Treasurer’s Office)
BHM MoveMakers: Black Chicagoans Doing Big Things – Stories highlighting individuals in our city who are driving change.
What does financial literacy mean to you? Do you understand what that phrase involves? What about generational wealth? As Black History Month ends and we move into Women’s History Month, there’s a significant sense of reflection and gratitude for the leaders who have dedicated their lives to ensuring that the Black community has access to free resources, providing a strong foundation in life, even when the starting point may be unsure.
Recently, Chicago City Treasurer Melissa Conyears-Ervin, and I discussed financial literacy, honoring the women in our lives, and the ongoing, upcoming events for economic empowerment in underserved communities that are free.
Marshelle Sanders: How’s your Black History Month going so far?
Melissa Conyears-Ervin: It’s going wonderfully! Black History Month is always a special time for reflection and celebration. This year has been no exception. My team and I have been involved in several events this month, and it’s been heartwarming to see so many people come together to acknowledge and honor our history. It’s been busy but very fulfilling.
Sanders: With Women’s History Month coming up in March, how are you preparing for that?
Conyears-Ervin: I love Women’s History Month; it’s another great time to highlight women’s achievements and contributions. At our office, we always do something special, whether a webinar or an event.
We’ve got some exciting things planned. One is “Wealth Wednesdays,” which I’m incredibly proud of. It’s a series where we bring in notable women in finance and entrepreneurship. This year, we’re lucky to have Suzanne Yoon joining us. She’s a powerhouse in the investment world, and her insights are invaluable, particularly for women entrepreneurs looking to build wealth.
Sanders: Speaking of influential women, who’s your most inspirational woman?
Conyears-Ervin: Without a doubt, it’s my mother. She’s everything to me. She didn’t have a college degree when I was growing up, but after I earned mine, she went back to school and earned hers. Her strength and resilience have always inspired me.
Even without a formal education then, she was the most brilliant woman I knew—she could overcome any challenge and showed me how to fight for what matters. She taught me the importance of hard work and perseverance. My mother didn’t just provide for me and my sisters; she established a foundation for generational wealth, which continues to bless our family. She could guide you through anything; she’s my inspiration every day.
Sanders: You’ve hosted several impactful events like the “Building Wealth Today for Tomorrow” Summit. What inspired you to create that, and what has been one of its most memorable moments?
Conyears-Ervin: The “Building Wealth Today for Tomorrow” Summit we last held in October is close to my heart. I grew up in Englewood and on the West Side of Chicago, raised by a single mother who was a union worker. Watching her fight for workers’ rights in the union halls, often without proper childcare for us, left a lasting impact. She didn’t know it then, but built generational wealth for our family when she bought our home.
I’m passionate about helping others, particularly those in underrepresented communities, understand how to build wealth. The summit brings experts, influencers, and celebrities who teach people how to save, invest, buy homes and start businesses.
One of the most memorable moments was when we brought Beyoncé’s father, business executive Matthew Knowles. He shared some advice that stuck with me: “If my kids wanted to be doctors, I’d have bought them a hospital.” That mindset of investing in your children’s future is something we need to bring into our communities. We must teach the next generation to focus on their financial future, not just on consuming.
Sanders: What is the most critical step we can take toward closing the wealth gap in underrepresented communities like Chicago’s?
Conyears-Ervin: The first step is financial education. We must teach people the importance of savings, investing and business ownership. We must shift from being consumers to owners. We also need to support small businesses and provide equitable access to banking services. By championing these efforts, we can empower individuals and communities to grow wealth and create economic opportunities for future generations.
Sanders: Let’s talk about youth financial education. How are you ensuring long-term sustainability in addressing the financial literacy gap?
Conyears-Ervin: I am deeply passionate about youth investment because they are the future. We’ve started an internship program in our office to expose young people from underserved communities to the financial services industry. We also provide scholarships to help them pursue higher education without worrying about financial barriers.
At our “Building Wealth Today for Tomorrow” Summit, we host a “Youth Corner,” where influencers and experts talk to young people about entrepreneurship, money management and how to invest in themselves. We’re seeing Gen Z take more interest in non-traditional career paths like social media influence and content creation. We must ensure they understand how to manage and invest the wealth they generate from these platforms. Financial education for youth is crucial, and we’re committed to fostering it.
Sanders: How does your office advance equity in banking and financial services?
Conyears-Ervin: One of the defining moments in advancing equity was the creation of the “Advancing Equity in Banking Commission” during the height of the pandemic, sparked by the tragic death of George Floyd.
A report revealed that one predominantly white neighborhood in Chicago received more mortgage loans than all the Black communities combined.
That was unacceptable. We formed a commission to address racial disparities in finance and ensure more equitable opportunities. We’ve also implemented a “Diversity Scorecard” in our office, which evaluates organizations that want to do Business with us. It’s not just about performance; we look at their commitment to diversity, equity and inclusion as part of the process. This ensures that businesses prioritizing equity have a seat at the table.
Sanders: Lastly, as the first elected African-American woman to serve as Chicago’s City Treasurer, how do you view your role in breaking down barriers for other women of color?
Conyears-Ervin: It’s an honor, but I also see it as a responsibility. My journey wasn’t easy.
I became the first in my family to attend college. I fought my way into corporate America and then into politics. As a treasurer, I want to be an example I never had growing up. For other women of color, especially those in leadership positions, I want to show that anything is possible with hard work and perseverance.
We must never let anyone tell us what we can’t do. Representation matters.
My daughter inspires me, and I always remind myself, “If not me, then who?” We need to show young girls that there’s a place for them in leadership roles, finance and any other field they aspire to. We’ve got to be the change we want to see.
For More Information
The 5th Annual Building Wealth Today for Tomorrow (BWTT) Financial Empowerment Summit will be held at the UIC Forum on Oct. 4.
Attendees can participate in expert-led workshops on financial planning, homeownership, entrepreneurship, credit and money management, retirement planning, investing, growing an online brand and much more. Celebrity keynote speakers will inspire and empower attendees to take control of their financial future.
The summit promises to be an incredible opportunity to build wealth, with resources and knowledge available to help attendees on their financial journeys.
It’s a “free” event. There will also be sessions on securing the best interest rates and a “Real Estate Mogul 101” workshop aimed at helping attendees build wealth through real estate. With so many opportunities packed into one day, the summit is designed to equip individuals with the tools to secure their financial future.
For more information and to register, visit “Building Wealth Today for Tomorrow” at www.chicagocitytreasurer.com/bwtt/.
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