The Wisconsin Bankers Association will undertake a major remodeling of its building in Madison, WBA President and CEO Rose Oswald Poels told bankers at the association’s Executives Conference earlier this month.

“We moved into the building 20 years ago June, and we need an update. Everything in the building is original,” Oswald Poels said, referring to worn carpeting, cubicles, and office fixtures. WBA purchased the building in 1998.

The 20,000-square-foot, two-story brick office building has an assessed value of $3.1 million, according to Dane County tax records. Oswald Poels said WBA will spend up to $1.5 million on building improvements throughout 2019. WBA, which has more than $4 million in cash reserves, owns the building free and clear, Oswald Poels told bankers.

Poels said the association’s space needs have changed over the years. Space devoted to a print shop, for example, is no longer needed. Part of the renovation will involve building an on-site training center. The renovation will create more collaborative space for work teams to meet.

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