After being sworn in as treasurer, Mike Frerichs vowed to increase financial literacy programs to help Illinois citizens save for their retirement and their children's educations.
The Democrat said he will also use his office to increase access to financial institutions and provide more opportunities for investment.
"I am ready to lace up my boots, to put on my work gloves. I am ready to work to join the people of Illinois in rebuilding the American dream."
Frerichs was a state legislator before running for treasurer. He narrowly beat his Republican opponent Tom Cross in November.