Treasurer Rachael Eubanks

Treasurer Rachael Eubanks Photo

Rachael Eubanks was appointed as Michigan's 47th State Treasurer by Governor Gretchen Whitmer in January of 2019. She welcomes the opportunity to bring creativity, collaboration and commitment to identify and implement solutions to some of Michigan’s greatest challenges. She will do this while also building upon Treasury’s culture of service to Michiganders, through continuous improvement and employee engagement.​

In 2016 she was appointed by Governor Rick Snyder (and reappointed in 2017) to serve on the Michigan Public Service Commission (MPSC) as a utility regulatory commissioner. In that capacity she reviewed and voted on hundreds of orders that helped shape Michigan’s energy future.  In particular, the Commission had regulatory oversight over the implementation of two comprehensive energy law changes during her tenure.  She served on several national organizations, including being elected as Vice President to the Organization of PJM States, Inc., and was on the Board of Directors of the National Association of Regulatory Utility Commissioners, where she was Chair of the Supplier and Workforce Diversity Subcommittee.  

​Prior to that role, Treasurer Eubanks structured more than $25 billion in bond financings for public entities–primarily the state of Michigan, State Building Authority, Michigan Finance Authority and the Michigan Strategic Fund. Treasurer Eubanks also served as point of contact for credit rating agencies on state credit matters for 10 years. 

Treasurer Eubanks serves on the National Association of State Treasurers’ State Debt Management Network and Legislative Committees.  She was on the Board of Michigan Women in Finance from 2008-2013 and was elected Treasurer and President.

She obtained her bachelor’s in economics from the University of Michigan.

The State Treasurer is also a member of the following boards and commissions: 

Michigan Education Trust, Chair

Michigan State Finance Authority, Chair

Michigan State Housing Development Authority, Chair

Local Emergency Financial Assistance Loan Board 

Michigan Early Stage Venture Investment Corporation Board 

Michigan Economic Development Corporation Corporate Board 

Michigan Strategic Fund 

State of Michigan Investment Board

State of Michigan Retirement Board 

Michigan State Police Retirement Board 

State Administrative Board

Detroit Financial Review Commission

Michigan Land Bank