Freed-Hardeman University students meet commissioner of state department of financial institutions 

Commissioner Greg Gonzales of the Tennessee Department of Financial Institutions encouraged FHU students to use their unique Christian education to do something positive in their communities. “Tennessee needs you as leaders,” said Gonzales, who quoted Theodore Roosevelt’s “The Man in the Arena,” during his chapel address Tuesday, March 8. “I urge you to enter the arena and give yourself to a great cause.”
Gonzales began his day on FHU’s campus as a guest lecturer in Instructor Michael Prentice’s financial markets and institutions class, where he discussed the importance of community banks, the difference between state monitored and federally monitored institutions and the growth of digital assets and cryptocurrency in the state.
“In Tennessee, $13 million in virtual currency is transacted with $7 billion worth of activity,” Gonzales said. He also offered students the chance to learn more about his department, sharing that his office is actively recruiting.
“To prepare for this work, we’re looking for people in finance, accounting and economics with an understanding of the IT world,” Gonzales said.
Sophomores and finance majors, Will Rivers and David Clayton, thanked Gonzales after class.
“Everything he talked about was interesting,” Clayton said. “I’m thinking about going into financial planning because I want to help people budget better in Mississippi, my home state. Too many people are living paycheck to paycheck and should be saving for retirement.” Rivers, who is interested in becoming a loan officer, said he wants to serve people.
During his chapel lecture, Gonzales shared with the student body that he was inspired by scripture, Romans 13:1, during his childhood to pursue a public service career. “Let everyone be subject to the governing authorities, for there is no authority except that which God has established,” Gonzales said.
He began serving as the 18th commissioner of the Tennessee Department of Financial Institutions in 2005 and has served under three different Tennessee governors. Gonzales has served the department since 1986, and in his current role he is the state’s chief regulatory officer of all state-chartered depository and licensed non-depository financial institutions.
Gonzales spent his lunchtime with local leaders of financial institutions, where he said, “The banking industry is very healthy, and our most recent quarterly report shows, in some respects, that it is as strong as we’ve seen it.”
On his last stop of the day, Gonzales met members of the Freed-Hardeman Investment Team, a $1 million student-managed investment fund. With mostly junior and senior business majors, the student-led, student-managed investment opportunity provides them with real-world experience. Since 2007, it has generated more than $154,000 for the FHU finance program. The finance program uses these funds to strengthen the program.
He watched as the students debated the pros and cons of an investment. “This is a standard day for us,” Associate Vice President of Finance Jay Satterfield explained to Gonzales.
“It’s rapid fire. They know to come prepared for a discussion, be dressed for work and ready to share their knowledge.” Gonzales praised the students’ efforts. “What an impressive group; you all are doing a magnificent job,” he said.