The Village of Richton Park, located in Chicago’s Southland region, is committed to providing a safe, business friendly environment supported by fiscally responsible governance. The Village focuses on long term financial stability while creating an atmosphere that supports residents, businesses, and future growth.
Wasiu Fashina, Assistant Village Manager and Director of Finance, plays a key role in guiding the Village’s financial strategy. In his position, he helps oversee financial operations
and ensures that public funds are managed responsibly to support both short-term needs and long-term planning.
The Village was introduced to IMET through the South Suburban Mayors and Managers Association (SSMMA). After being introduced to IMET, Richton Park evaluated its investment options to ensure safety and competitive returns. . “We decided to invest with IMET because it could provide a competitive rate of return while maintaining the safety of our investments compared to similar investments,” Wasiu explained. A key objective at the time was to diversify the Village’s investments while maintaining safety and liquidity.
Today, Richton Park primarily uses its IMET investments as reserve funds, supporting the Village’s broader financial framework. IMET has helped the Village generate investment income while prioritizing the safety of principal, aligning closely with Richton Park’s prudent and disciplined approach to public funds management.
When reflecting on his experience working with IMET, Wasiu highlighted the responsiveness and communication of the IMET team, led by Executive Director Sofia Anastopoulos and Associate Director Ethan Lord. He noted the prompt responses to inquiries, as well as pleasant and effective communication, as meaningful aspects of the partnership. Wasiu also noted that the IMET newsletters have also served as a valuable resource, helping the Village stay informed on market conditions and investment trends relevant to public agencies.
For other public agencies considering IMET, Wasiu offered practical advice. “IMET is a solid investment tool for both the long term and the short-term," he shared. He also emphasized the importance of remaining aware of market volatility and staying informed as conditions change.
To learn more about the Village of Richton Park, visit www.richtonpark.org.
To learn more about IMET, visit IMET.com.