About the City Treasurer
Madam Treasurer Nichole R. Armstead
Richmond City Treasurer Nichole Richardson Armstead, also referred to as, Madam Treasurer has been recognized by the City’s Administration as their Official Financial Empowerment Ambassador. This title includes working in direct partnership with the city’s Office of Community Wealth Building (OCWB) where she is spearheading the effort to build wealth which supports the OCWB’s Stability Measures Ladder. To date she has been instrumental in providing financial literacy offerings, financial opportunity programming, online literacy information, and outreach events to empower Richmond residents to beat the odds and take the first steps to rewrite the narrative for their family and begin to build generational wealth.
After being re-elected to her second term Madam Treasurer continues to focus on providing more resources and tools to empower Richmond City residents. With nearly two decades in the banking industry (Federal Reserve Bank and Virginia Credit Union), a heart for her community and management experience have equipped her to serve the Richmond city residents with tools and resources to support them in their journey to remain and become more self-sufficient. Under her leadership the city launched the Financial Navigators program in January 2021 in response to the financial impacts of COVID and continue to offer it to day which currently assists residents in obtaining resources during financial hardship.
Our City Treasurer is a true Richmond Native who was born on March 11th at Richmond Memorial Hospital formerly located on Westwood Avenue in Richmond, Virginia. She attended Richmond Public Schools (John B. Cary, Albert H. Hill, Thomas Jefferson) and graduated from Virginia Commonwealth University with a major in Mass Communications and minor in Political Science.
Our Madam Treasurer also has a background in community service as a volunteer at Richmond Public Schools, as well as Junior Achievement (a program that promotes education and financial literacy in school age children). Her commitment to community and public service was “caught” through her upbringing as the daughter of former Richmond City Councilman Henry W. "Chuck" Richardson who served the city for 19 consecutive years.
She is an active member of multiple organizations including the Treasurers Association of Virginia, Richmond Crusade for Voters, Richmond City Democratic Committee, and the Virginia Association of Local Elected Constitutional Officers (VALECO). As a Project Management Professional (PMP) she has experience leading various projects in the private and public sector.
She is the wife of 18 plus years to Stafford L. Armstead of Create One, Inc. and mother of three school-aged children. She enjoys spending time with her family, being outdoors, listening to motivational podcasts, playing the guitar, singing, and occasionally performing or recording jazz. Beyond counting the dollars and cents, Madam Treasurer is working to make good sense in helping adults and children overcome obstacles and achieve their highest potential.