Archive for category: Advocacy

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Community Advocate Spotlight: Independence State Bank President and CEO Thomas L. Jensen

Thomas L. Jensen

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Independence State Bank President and CEO Thomas L. Jensen.

Rose: How did you first get into the banking industry?
Tom: As college graduation approached at Beloit College, I began a search for a career in the finance industry. I approached John Eldred (president/CEO) for an interview about entry level positions at the 1st National Bank of Beloit. Dennis Staaland (EVP) was also asked to join the “interview.” I soon learned that there were no positions available, but Dennis pulled me aside and explained that a solid foundation in financial services could be as a National Bank Examiner with the Comptroller of the Currency (as he had done). He provided me with employment brochures, names, and phone numbers of previous colleagues and encouraged me to apply. Later that summer (1986), I was assigned to a training crew in Milwaukee, Wis. and started my banking career with the OCC.

What is your favorite aspect of your role at the bank?
I am surrounded by an exceptional team and Board of Directors at the bank. My trust in the team affords me the flexibility to serve my community in ways that don’t necessarily require me to be at the bank. I have been a volunteer firefighter for over 30 years, and our team understands that there may be times that the pager goes off and I have to respond. The same is true for community events (Lions Club, Water and Sewer Commission, church events, etc.). There is nothing more satisfying than actively serving your community and making a difference.

What do you wish the general public understood about the banking industry?
I wish the general public understood how heavily regulated the banking industry is. I learned early in my career of the sheer magnitude of rules, regulations, and guidance that bankers are expected to understand and comply with. This can be a daunting task and can sometimes be perceived by the public as being difficult to work with. Banking is not the same as it was 60 years ago. This is especially true for smaller community banks who are generally expected to comply with the same regulations as the largest banks in the country.

Where do you believe the industry’s greatest challenges are in the next three to five years?
Artificial intelligence (AI). The cyber risk associated with AI is obvious. However, while predictive modeling, automated loan approval, and optimal deposit gathering could all benefit from AI, I believe consumers will still demand meaningful business relationships and human interaction well into the future. Automated processes are great in a perfect world; unfortunately we don’t live in a perfect world. AI can’t make judgment calls, and humans are able to identify specific situations and critical calls that AI may not be able to. It might be difficult to explain cost over-runs, a death in the family, or strategic direction of a family-owned business to an AI Bot.

Please describe your current role at your bank and share with us one of your more rewarding experiences.
My current role at the bank is president/CEO. We pride ourselves in being a community bank. This may sound corny, but each and every day in a community bank is rewarding. We hope to be worthy stewards of our customers’ financial assets, providing quality products and services in a thoughtful and protective manner. I frequently remind our team that it isn’t so much what we have to offer, it’s what we give back to the community that is most important.

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Executive Letter: A Commitment to Investing in the Future Prosperity of Our Industry

By Rose Oswald Poels

Even though votes are still being counted in several uncalled U.S. House of Representatives races as of this morning, Republicans have now reached 218 seats in the House of Representatives so will have full control (with narrow margins) of the federal government with the trifecta of the White House, Senate, and House of Representatives.

Regardless of your party affiliation, without the non-stop barrage of election-related texts, calls, emails, and political ads, we can now move forward with clarity and a continued commitment to advocate for the industry with one voice to promote a healthy environment that allows your bank, customers, and your communities to prosper. WBA’s government relations team remains dedicated to continuing to work with legislators on both sides of the aisle.

This past biennium, WBA, working alongside many engaged bankers, achieved numerous positive bi-partisan legislative results for the industry. WBA will continue its impact in the new biennium, focusing on the legislative priorities established by our Government Relations Committee and Board of Directors.

The industry’s active political involvement is also critical to ensure our voice is heard. I want to thank many of you who have already personally contributed to WBA’s political action committee or conduit account this year; however, we still need more contributions to reach our goal.

So far, WBA has raised 80% of our $300,000 goal for 2024. With less than 50 days left in the year, we need your help now to achieve this critical investment in the industry’s advocacy future. I know that the economy remains challenging and that asking your management team and board for personal contributions for political purposes can be difficult; however, without meaningful political contributions, WBA is limited in our abilities to succeed on your behalf.

Every year, I personally contribute between $4,000 and $5,000 to WBA’s political accounts because it is crucial to me to support the industry that has given me so much opportunity during my career. I encourage you to consider giving at least $1,000 which qualifies you for the Silver Triangle Club, or $3,000 or more which qualifies you for the Leadership Circle.

Currently there are 13 Leadership Circle members, 89 Silver Triangle members, 36 Gold Triangle members, and 37 BIGG Award Recipients.

Thank you to so many of you who have engaged in our grassroots calls-to-action throughout this year, by contributing to our political funds, joining us in Madison for Capitol Day (save the date: May 6, 2025) or in Washington, D.C. during our annual advocacy trips. This year the inaugural Milford Hills Outing, a sporting clays event, was held in October and will likely grow in popularity and impact. Without your engagement, we truly are not as effective as we need to be to achieve our priorities. Direct involvement from bankers is critical to helping the WBA advocacy team achieve success for the banking industry. It is our goal to provide bankers like you with a seat at the table to positively shape and influence legislation and rules impacting the industry.

To learn more about WBA’s advocacy efforts and to contribute to one or both of our political accounts, please visit wisbank.com/advocacy. If you would like to schedule an advocacy presentation for your bank, please contact a member of our Government Relations team. If there is someone on your team who would be interested in an Advocacy Officer role, please encourage their participation.

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Executive Letter: Advocacy in Action – Meetings with Regulator Leadership

By Rose Oswald Poels

Last week, 10 bankers joined WBA’s Heather MacKinnon, VP – legal, and me in Washington, D.C. for our annual trip to meet with regulators. This trip is always a productive one, resulting in impactful advocacy and conversations given the small group size. In the span of only two half-days, our group was able to meet with senior officials from the FDIC, OCC, Federal Reserve, and CFPB. The topics we covered in detail included FDIC signage rules, brokered deposits, mergers/credit unions, cannabis banking, BASEL III, banking as a service and working with FinTechs/AI, Section 1071, and other top examination concerns.

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Our conversation with FDIC Vice Chairman Travis Hill focused on concerns over proposed amendments to the brokered deposit rule which would unravel necessary and helpful changes made in 2020. We also stressed the need for the withdrawal of BASEL III given how the proposed capital levels are unnecessary and will negatively impact the ability of banks to meet the needs of their communities. In sharing a specific example, we recommended FDIC review how they consider allowing banking as a service when banks seek to work with FinTechs to permit greater collaboration and ingenuity.

We encouraged FDIC to more closely scrutinize merger transactions involving credit unions purchasing banks as these can pose risk to communities given branch closures, inadequate oversight by NCUA, and the loss of having to comply with CRA. Finally, we expressed our appreciation for the delay of the mandatory compliance date for Part 328 as the additional time is necessary to review and test new disclosure content and placements by vendors.

“Attending the WBA Regulatory trip is a very good use of any banker’s time as you are meeting with regulators to discuss real-time challenges that we face every day. Sharing such information and real-life stories of the impact their regulations have on our clients, communities, and shareholders can be eye-opening to the regulators. I have experienced positive changes with my own local regulator as a direct result of these meetings. I strongly encourage all bankers to take part in this trip.” – Ryan T. Kamphuis, President & CEO, Bristol Morgan Bank

The focus of our conversation with OCC Acting Comptroller Michael Hsu was on preemption and cannabis banking. I was able to share our involvement in an amicus curie (“friend of the court”) filing related to preemption by a national bank from a Wisconsin Consumer Act requirement and expressed appreciation of OCC filing to defend preemption in the Illinois interchange case. Stories were shared of credit unions being allowed to work with cannabis banking customers, and the group requested greater flexibility by the OCC and other bank regulators to allow the banking of legal cannabis businesses.

We began our conversation with Fed Governor Miki Bowman by first thanking the Governor for the efforts of her team to investigate the retroactive nature of exam findings involving charging representments fees. After bringing the issue to her attention in last year’s regulatory visit, the Fed changed its retroactive approach in examinations. This is just one example of how discussions during the Regulatory Trip have a direct impact on Wisconsin banks. Our conversation also focused on encouraging the Fed to withdraw its proposal to reduce the interchange fee collected by banks to which Governor Bowman encouraged banks to provide more specific data regarding interchange and fraud-prevention costs.

With senior officials from CFPB, our conversation focused on Section 1071 implementation. We encouraged CFPB to create consumer-facing resources explaining why certain data is being collected and its use, similar to resources created by FinCEN for beneficial ownership information reporting. We also expressed frustration and caution for when CFPB issues a circular, blog, or other “opinion” as the releases are being irresponsibly misused by plaintiff attorneys in attempts to create class-action lawsuits on theories found within these releases that are not law or regulation.

“Attending the WBA Washington Regulatory Trip provided invaluable insights and direct engagement with prudential regulators and the American Bankers Association. The opportunity to discuss key regulatory issues and share real-world experiences with senior officials was instrumental in understanding the evolving regulatory landscape and advocating for our industry’s needs.” – Theresa Wiese, CRCM, Managing Director of Compliance and Risk Management, First Business Bank

PARTICIPATE – Be an Advocate in Action! 

Each year WBA has three Washington, D.C. fly-ins, two in the Spring and one in the Fall. The Spring trips involve meetings with Wisconsin’s Congressional delegation. The Fall trip focuses on meeting with regulators. As stated above, these meetings are impactful as bankers are able to speak directly with decision makers and influencers regarding banking issues. Changes in policy and greater issue awareness do occur as a result of these meetings and I highly encourage you to consider attending either our Hill visits or next year’s regulatory trip!

I would like to thank the following bankers for joining WBA this year: Al Araque, Johnson Financial Group, Adam Bellmer, Johnson Financial Group; Kristen Gagliano, North Shore Bank; Corey Hoze, Associated Bank; Ryan Kamphuis, Bristol Morgan Bank; Gary Kuter, Capitol Bank; Heather Nelson, Spring Bank; Timothy Schneider, Bank Five Nine; John Udvare, The Equitable Bank; and Theresa Wiese, First Business Bank.

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Advocacy Update: Strengthening Our Industry Through Grassroots Advocacy and Financial Giving

By Lorenzo Cruz

Members of the Wisconsin Bankers Association are at a critical point in our industry. Amid the backdrop of the fall elections, the financial landscape is rapidly changing with new regulations, technological advancements, and economic challenges that impact our day-to day operations. Now more than ever, it is crucial that bankers not only stay informed, but also actively participate in the shaping of our industry’s future.

The Power of Grassroots Advocacy
Grassroots is the cornerstone of our efforts to influence legislation and regulatory decisions that affect our industry. By engaging with policymakers at all levels of government, we can ensure that our voices are heard, and that the unique viewpoints of our industry are considered.

But advocacy is not just about lobbying or talking with elected officials. It is about building relationships and educating them on the real-world effects of their decisions. When we work together as a community to advocate for reasonable regulation and policies that promote growth, we empower ourselves to create a stronger, more resilient financial sector.

Why Your Involvement Matters
Each one of us has a role to play in this process. Whether you are managing a small community bank or leading a large institution, your perspectives and experiences are invaluable. Policymakers need to hear from those who are on the front lines, collaborating directly with customers and understanding the complexity of financial services.

Your involvement in grassroots advocacy can take many forms:
•   Contacting your elected officials is one way. Share your experiences and concerns via email or a phone call and educate them on the impact of proposed legislation on business and customers.
•   A second way is to attend public hearings. Show up where decisions are being determined and express your opinions by providing testimony or registering a position.
•   Participating in Capitol Days and federal delegation trips is another approach. Join bankers in organized visits to policymakers to collectively advocate for the legislative priorities that matter most to our industry.

Supporting WBA’s Fundraising
In addition to your personal engagement, financial donations to WBA’s Political Action Committee (PAC) and conduit account are vital. These funds allow our association to support candidates who understand and prioritize the banking industry’s concerns. By combining our resources, we can ensure that our industry’s voice is heard in the hallways of the capitol.

Why your contribution matters:
•   It amplifies our influence. Financial contributions enable us to support lawmakers who align with our industry’s goals, ensuring they have the resources to campaign effectively.
•   It protects our interests. By contributing to PACs and conduit accounts, you help safeguard our industry from potentially damaging legislation.
•   It promotes informed decision making. With strong financial support, we can continue to provide valuable information to policymakers, helping them make decisions based on solid data and industry expertise.

A Call to Action
We urge every WBA member to get more involved in overall grassroots advocacy (BIGG) and financial giving at the individual level (Leadership Circle or Silver Triangle) and at the bank level (Gold Triangle). Act now to help us meet our 2024 fundraising goal of $300,000 by contributing securely online via credit card at wisbank.com/advocacy or mailing a check payable to Wisbankpac or to Alliance of Bankers for Wisconsin to WBA.

Whether it is donating financially, reaching out to a legislator, or participating in an advocacy event, every effort counts. Together, we can ensure that the banking industry remains a vital, vibrant part of our economy. Your voice, your engagement, and your contributions make all the difference. Let us commit to being proactive advocates for our industry, today and in the future.

Thank you for your continued commitment to the success of our association and the banking industry.

Cruz is WBA vice president – government relations.

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Chair’s Column: Amplifying the Impact of Advocacy

By Al Araque

I recently met with WBA President and CEO Rose Oswald Poels, WBA Vice President – Government Relations (GR) Lorenzo Cruz and my fellow Officers to discuss legislative priorities for the Association and how Board members like me and senior management/leadership at member banks can get more engaged in advocacy. That critical need for engagement and participation extends beyond C-suite leaders to employees at every phase in their careers.

The more I see WBA’s Government Relations team, which also includes Executive Vice President and Chief of Staff Daryll Lund and Director – Government Relations Tyler Foti, in action it becomes clear that the staff/member dynamic is truly symbiotic in nature. As a member, I rely on the insights and expertise of WBA’s seasoned GR professionals as they represent banks in Wisconsin, but they in turn rely on the grassroots efforts, financial contributions, and valuable perspectives from WBA members. Without the engagement of members, there is only so much that our GR pros can do. Legislators need to hear from you and candidates need to know that WBA has the financial support of its members.

As I shared in my introductory column this summer, my focus is on amplifying the impact of WBA, and there are many ways that WBA’s advocacy work can be amplified.

Generosity in Sharing Stories from the Frontline to the Board Room
You have your finger on the pulse of what is happening in your community and can speak convincingly to legislators about the public policy issues impacting your customers, employees, and local economy. Providing testimony, whether it is in person at hearings or written, can help legislators get clarity on a complex industry-related issue.

Attending Capitol Day on May 6, 2025: Attendance at this annual event is incredibly important. If you have never been before, make 2025 the year that you connect directly with legislators and network with other bankers. Members are briefed on the issues and guided through the legislative visits. The larger the group, the more impactful the Association is. I’ve heard that Capitol Day can often be a tipping point for members who end up becoming really engaged and interested in advocacy after witnessing the combined impact of WBA members.

Having a WBA Advocacy Officer from your bank: This volunteer position coordinates regulatory, legislative, and community advocacy efforts for your bank by teaming up with WBA. Advocacy Officers often work with other banks, WBA staff, legislators, and community leaders. The time commitment
is low, especially when considering the impact officers make.

I realize not everyone is immediately comfortable with these kinds of grassroots activities. It may seem daunting initially, but I know that GR staff is always willing to share talking points, bring members up to speed on the issues, and facilitate communications with legislators. The goal of the GR staff is to make your grassroots involvement easy!

Generosity with Financial Contributions
Not everyone has a clear picture of how to support WBA’s political initiatives.

Wispankpac is the registered political action committee of the WBA and supports pro-banking candidates throughout Wisconsin by pooling individual banker contributions to maximize their overall impact in the political process.

Alliance of Bankers for Wisconsin (ABW) is the registered conduit of the WBA and allows an individual banker (like you) to direct contributions to the candidate(s) of your choosing and receive individual credit for your contribution.

Finally, WBA also works with other business coalition partners on issue advocacy initiatives. Corporate contributions to WBA for issue advocacy purposes are permitted under the law.

So, the amplification of WBA’s influence can come from individuals as well as banks. WBA also has several programs to acknowledge the generosity of individuals and banks.
•   Silver Triangle Club recognition is given to individuals who personally donate at least $1000 to ABW, Wisbankpac, and/or the WBA issue advocacy fund. For Leadership Circle recognition, individual bankers must contribute at least $3,000 to any combination of Wisbankpac or the ABW conduit.
•   Gold Triangle recognition is achieved by banks whose officers, directors, and employees aggregately contribute a minimum amount to the ABW political conduit or Wisbankpac. Banks may also make corporate contributions to WBA’s issue advocacy fund.
•   The BIGG (Bankers Involved with Grassroots and Government) Award is the Association’s highest level of recognition for advocacy by our member banks. To receive this award, banks must complete five out of seven criteria described in WBA’s Advocacy Toolkit.

As the November 5 election approaches and brings with it some polarizing viewpoints, I’m reminded of a quote from Rose that I think can be helpful when you talk to staff about the need for grassroots advocacy and contributions, “Funds raised by WBA are used to help support pro-banking political candidates who are not ‘D’ or ‘R’, but rather ‘B’ for the ‘Banking’ Party.” Speaking of the election, WBA has partnered with ABA for a Get out the Vote initiative, which has lots of useful information to share with staff.

Araque is SVP, director of consumer, private, and business banking with Johnson Financial Group, Racine, and the 2024–2025 WBA Chair.

 

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Executive Letter: WBA’s Regulatory Advocacy Through Comment Letters

By Rose Oswald Poels

One of WBA’s primary roles is to advocate for the banking industry. Much of the focus of staff and bankers is on our collective legislative advocacy. In addition to legislative advocacy, WBA also works hard to advocate for the industry through our involvement in court cases by filing an amicus curiae brief, and through our comment letter writing and meetings with regulators. Given the number of regulations the banking industry must manage, regulatory advocacy is critical. In the last few months, WBA has been busy on that front on several key issues affecting the industry.

Comment letters are an excellent mechanism for federal agencies to hear about the impact their regulations have on the banking industry. WBA’s legal team has been busy ensuring that federal banking regulators understand the impact their proposed rules have on Wisconsin’s banks. One of the recent comment letters filed by WBA was with the Consumer Financial Protection Bureau (CFPB), responding to CFPB’s request for information regarding fees imposed in residential mortgage transactions. CFPB’s request arose in response to recent studies, and claims that “junk fees” are driving up housing costs.

In our comment letter, WBA expressed concerns with CFPB’s characterization of mortgage fees and commented that CFPB should not inappropriately prejudge and inaccurately categorize legitimate and necessary fees as junk fees. WBA emphasized that Wisconsin banks don’t add fees to loan costs other than necessary fees and provided numerous and specific examples of loan costs.

WBA also filed comments on CFPB’s interim final rule to extend the compliance dates for its 2023 small business lending rule (1071 rule). The interim final rule extends the 1071 compliance dates 290 days to compensate for the period that was stayed by court order (July 31, 2023 to May 16, 2024). WBA expressed that we still hold significant concerns regarding the scope and negative impact of the 1071 rule but appreciate CFPB’s prompt issuance of clear time periods clarifying the new compliance dates.

WBA also encourages bankers to get involved in our regulatory advocacy work through writing comment letters or attending meetings with regulators. Every October, I take a small group of bankers with me to Washington, D.C. for the purpose of meeting with federal banking regulators. The dates this year are October 21–22, 2024. While we are still in the process of scheduling the meetings, I am hoping to meet with senior officials from the FDIC, Federal Reserve, OCC, CFPB, FHFA, and SBA. If you are interested in joining me on this year’s trip, or would like to learn more, please contact me at your earliest convenience as I limit our group size to around 12 bankers. As with our legislative and judicial advocacy, WBA will continue to fight for the industry through our ongoing active regulatory advocacy as well.

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WBA Files Reply Comments on FCC Weiss Bank Safety Rating Requirement

Earlier this week, WBA filed a second comment letter with FCC regarding the agency’s requirement that a bank obtain a Weiss bank safety rating in order to be eligible to provide a letter of credit (LOC) to recipients of FCC’s Rural Digital Opportunity Fund. This second letter was a reply comment letter in which WBA responded to other comments filed with FCC regarding the matter.  

In reviewing the record of filed comments with the FCC, nearly all are in support of eliminating the Weiss bank safety rating requirement altogether. It is the consensus of the majority of commenters that the Weiss bank safety rating is one that can no longer be relied upon. Indeed, WBA along with 74 other banking associations, the ABA and ICBA, noted the lack of transparency and questionable research as two concerns among others in continuing to rely on the Weiss organization.  

WBA also pointed out that there is nothing substantive in the letter filed by the Weiss organization that was responsive to the concerns raised by many regarding the ongoing use of the rating. Furthermore, there is nothing in the statement filed by Weiss to provide any insight into how they arrive at their bank safety ratings. Instead, the letter confuses and misdirects readers citing decades-old unrelated research and events. 

In the reply letter, WBA repeated the recommendation that FCC discontinue any further use of any Weiss bank safety rating requirements. WBA restated its belief that existing bank regulatory structure and supervision of banks provides FCC with strong assurance that banks that issue a LOC do not present risk of failure. WBA also repeated its alternative suggestion that if FCC insists on retaining some verification method as part of its bank eligibility rules, FCC should allow banks to qualify in one of two ways: have a rating issued by a nationally recognized statistical rating organization that is equivalent to a BBB- or better rating by Standard & Poor’s, or provide an affidavit signed by an officer of the issuing bank stating that the bank is “adequately capitalized” or “well capitalized” as of the date the LOC is issued, along with a representation that the bank officer will promptly notify the telco provider customer if the bank’s capital ratio changes such that it is less than “adequately capitalized.” 

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From the Fields: A Legacy of Agricultural Excellence

By Nicholas Felder

As agricultural lenders in Wisconsin, we all play a crucial role in supporting the backbone of our state’s economy. Agriculture is not just a primary contributor; it is a way of life, deeply rooted in tradition yet constantly evolving to keep up with opportunities and threats.

As we all know Wisconsin’s agricultural sector is diverse, ranging from dairy farming to crop production to cattle and poultry and beyond. The state of Wisconsin is heralded for its dairy industry, leading the nation in cheese production and near the top in milk production. Additionally, Wisconsin farmers grow a variety of crops including corn, soybeans, cranberries, vegetables like potatoes and green beans, contributing significantly to the state’s economy.

However, like many agricultural regions across the country, farmers in Wisconsin have encountered numerous challenges in recent years. Fluctuating commodity prices, adverse weather conditions, increasing input and equipment costs, and regulatory pressures have strained cash flows for many operations. These challenges, compounded by global market dynamics and shift in consumer preferences, underscores the need for adaptive financial strategies and robust support from agricultural lenders.

As we navigate through 2024, uncertainty over the political landscape will be a point of discussion and possible contention around many dinner tables as we steam ahead into the fall Presidential election. This also includes discussion around the expired farm bill. The farm bill, typically renewed every five years to provide some stability and support to farmers across the country, is a cornerstone of U.S. agricultural policy. However, the expiration of the 2018 farm bill has left the agricultural community in limbo as we await congressional collaboration to pass a new bill or extend existing provisions.

This farm bill has, and will likely again, include provisions of: Income Support Programs, Conservation and Environmental Programs, Rural Development and Infrastructure; and Trade and Export Promotion. All of these provide support and opportunities for Wisconsin producers and rural economies to grow food, fiber, and fuel at affordable prices which are used locally, nationally, or exported for distribution worldwide.

In its absence, agricultural lenders here in Wisconsin should proactively engage with clients to assess risk exposure and explore strategies to mitigate market volatility. This should lead to conversations about cash flow management and repayment capabilities. We should be informed and ready to utilize the buffet of lending and treasury management options to put our producers in the best position to succeed as possible. We also need to stay informed of developments in the farm bill process and guide producers to resources as well as advocate for policies that support the long-term viability of agriculture in Wisconsin. Please engage with the WBA, local policymakers, and community leaders including engaged customers to voice concerns and influence policy outcomes.

Your role in navigating uncertainty is pivotal in supporting the resilience and prosperity of our farming communities. By staying informed, proactive, and adaptive in your approach to your clients can assist in mitigating risk, allow for capturing of opportunities, and foster sustainable growth amidst a historically challenging environment. As always, while the path forward may be uncertain, your commitment to serving the needs of Wisconsin producers and communities remains steadfast. Together, we can weather the storm and continue to uphold the legacy of agricultural excellence in our state.

Felder is vice president – commercial and agricultural banking at MidWestOne Bank in Lancaster. Felder also serves as Vice Chair on the 2024–2025 WBA Agricultural Bankers Section Board of Directors.

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Community Advocate Spotlight: Steve Peotter, One Community Bank

Steve Peotter

The following is a brief interview between WBA President and CEO Rose Oswald Poels and One Community Bank President and CEO Steve Peotter.

Rose: How did you first get into the banking industry?

Steve: From a young age, I’ve known that my career path would be centered towards helping others, alongside a strong interest in finance. My career began in consumer finance, which provided a foundation to explore other areas including mortgage lending, retail banking, and commercial lending. It’s been rewarding to experience all aspects of banking and ultimately lead to my current role in community banking. Being involved in my community has always been a passion of mine. Currently being in community banking is the best approach for me and it allows me to continue assisting others while investing in communities.

What is your favorite aspect of your role at the bank?

Supporting colleagues in their professional journey is something I truly enjoy. From promotions to new roles, or simply enhancing existing responsibilities, the support we provide for each other is inspiring. Witnessing the growth and joy of our team members at One Community Bank is my favorite aspect of our work culture.

What do you wish the general public understood about the banking industry?

Main Street community banks are different than Wall Street banks. Community banks are here to focus on clients, whether that be local small business owners, first time homebuyers, high school graduates, or other members of the community. We specialize in serving clients, supporting colleagues, and investing in our communities. Multinational banks headquartered on Wall Street have a different focus, which may not center on their clients. With the current growth of digital banking, community banks can deliver the same online banking experience that multinational banks do. As locally owned institutions, community banks are committed to surpassing expectations and providing outstanding service.

Where do you believe the industry’s greatest challenges are in the next three to five years?

I believe the industry’s greatest challenge in the next three to five years will be bringing in young professionals. Community banks strive to provide work life balance for colleagues and have the ability for a rapid career progression if you desire it. We have a great ability to provide purposeful work while continuing to grow and evolve in our industry. To young individuals considering their next career steps, I highly recommend looking into community banking. It’s a highly rewarding and exciting field.

Please describe your current role at your bank and share with us one of your more rewarding experiences (e.g., A time you had to go above and beyond to help a customer, a memorable customer interaction, stepping in to help the local community after a disaster, or something more personal, etc.).

Throughout my career, I’ve had many rewarding experiences. One that comes to mind took place back in 2020. The pandemic was just beginning and happened to overlap with Girl Scout cookie season. I encountered a group of Girl Scouts selling cookies in person at the entrance to a grocery store near one of our bank locations. In talking with the troop leader, her anxiety around being in person with her troop interacting with the general public was apparent. She had the desire to support the girls’ cookie sales goal, but also keeping them safe in what at the time was an unknown and very scary environment.

In that moment, I decided Team OCB would purchase all the boxes of cookies the troop had with them. This decision wasn’t about the cookies; it was about enabling the troop to hit their goal for the Girls Scouts and allowing the troop to head home safely. Bringing those cookies back to OCB and sharing them with my colleagues was another opportunity to spread kindness and a reminder of the impact of supporting our community.

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Advocacy in Action

By Lorenzo Cruz

It has been a tremendously successful biennial session for WBA’s Government Relations team. We passed and signed into law all our budget and legislative priorities: an income tax exemption (tax parity), financial institutions modernization, trust code update, and elder fraud protection.

The income tax exemption on commercial loans of $5 million or less is estimated to save the industry almost $60 million over a biennium. Wisconsin is the first state to have this type of groundbreaking law, blazing a trail for other states to follow. We also defeated or neutralized legislation harmful to the industry: environmental, social governance (ESG), merchant category code (MCC), interchange, and privacy.

Our advocacy efforts have grown significantly, with over 180 advocacy officers and record attendance at WBA’s Capitol Day in Madison, where 210 attendees joined us. It was great to see Governor Evers (D-WI) addressing a filled room of bankers for the first time on Capitol Day. Following his address, members met with legislators and staff at the capitol to discuss WBA’s top priorities.

With the legislative session over and legislators now on the campaign trail, the WBA Government Relations team is focusing on monitoring developments in the fall races, engaging members on advocacy efforts, attending fundraisers, and planning for the next legislative session. Wisconsin remains a key battleground state for the upcoming state and federal races. The new Supreme Court’s liberal majority ruled the GOP-drawn legislative maps were unconstitutional, forcing the GOP-controlled legislature to pass the Governor’s version of the maps. The new legislative district maps have paired incumbents in primaries, forced legislators to run in new districts, or run for a different legislative body, and spurred on retirements.

Currently the GOP has a supermajority in the state senate (22–11) and a majority in the state assembly (64–35), two seats short of a supermajority. With the new maps, GOP majorities in both houses will shrink. Four seats in the state senate and a dozen in the state assembly are in play. The GOP is likely to remain in control but a big margin of victory at the top of the ticket could have an effect down ballot as could a single issue moving voters. It’s too early to tell what undecided voters will do. Wisconsin remains ground zero for elections and will continue to see hundreds of millions spent for control of the state legislature and Congress.

Highlighted is a Get out the Vote link provided in partnership with the American Bankers Association; you can learn more about the candidates and the fall elections. Your vote and engagement with pro-banking legislators at a grassroots level can significantly impact future legislative decisions affecting the banking industry.

As we plan for the next session, we welcome any legislative ideas from members. This fall, we will meet with WBA’s Government Relations Committee to identify key budget and legislative priorities for the next session. Please contact Tyler or me with your suggestions.

Thank you again for supporting WBA’s advocacy efforts. It makes a difference and amplifies our unified voice.

Get out the Vote!
Visit the American Bankers Association’s site, secureamericanopportunity.com, click ‘Vote 2024,’ and select WI.
• See if you are registered to vote.
• See which candidates will be on your ballot.
• Find your polling locations.

You will find a toolkit for banks to share with employees to promote voter participation.

Cruz is WBA vice president – government relations.

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608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

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