A panel session titled “AI in Action” captured the attention of bankers from across the state at our 2025 WBA Bank Executives Conference on February 6 in Milwaukee. The panel was facilitated by Eric Cook, Chief Digital Strategist with WSI Digital and faculty member of the GSB Digital Banking School and WBA School of Bank Management. Panelists included:
- Sheri Dick, Forward Bank
- Chris Nichols, SouthState Bank
- Kathy Strasser, IncredibleBank
- Cyrene Wilke, Horicon Bank
Cook used an AI note-taker tool to record the panel discussion, which provided the following recap details.
Overview
Introductions
- Eric Cook is the panel moderator, a former banker, and a speaker at WBA and GSB Digital Banking School. He is leading a panel discussion on AI in the banking industry.
- Kathy Strasser is from Incredible Bank, a $2 billion organization based in Wausau, Wisconsin. She is responsible for people, technology, operations, and marketing.
- Sheri Dick is the Chief Operating Officer at Forward Bank in Marshfield, Wisconsin, which has over $1 billion in assets.
- Cyrene Wilke is the Chief Information and Operations Officer at Horicon Bank, which has $1.6 billion in assets and 20 locations in south Wisconsin.
- Chris Nichols is from South State Bank, which has 375 locations and $65 billion in assets. He has been involved in the bank’s AI journey for about two and a half years.
- The panel discussion involves multiple speakers discussing the integration and impact of AI in banking. Key topics include the importance of having a champion for AI initiatives, training programs, overcoming fears of AI replacing jobs, and practical use cases of AI in banking operations. The discussion also covers the role of AI in enhancing productivity, employee empowerment, and its implications for hiring and retention.
- The panel discussion involves multiple speakers discussing the integration and impact of AI in banking, particularly focusing on partnerships with technology providers. Panelist highlight the use of AI in customer service chat tools, emphasizing the incorporation of their company’s culture into AI responses. The discussion also covers the use of AI for productivity, employee engagement, and regulatory considerations.
- The panel discussion focuses on the use of AI in business settings, particularly in banking and personal life. The speakers discuss the adoption of AI tools like Viva Insights and Copilot, ethical considerations, and practical applications. They share insights on how AI can enhance efficiency, strategic planning, and personal tasks.
Takeaways
- AI does not require technical expertise to use; it can be interacted with using natural language.
- AI policies can be integrated into existing acceptable use and information security policies, with governance through an IT steering committee.
- AI is not necessarily a threat to jobs but a tool that can lead to more hiring by increasing efficiency and creating new opportunities.
- The use of AI in banking is akin to the adoption of the internet and email; it is becoming an indispensable tool for daily operations.
- Integrating AI with a company’s cultural playbook can significantly enhance customer interactions by providing responses that align with the company’s values and communication style.
- AI adoption can lead to a culture multiplier effect, aligning employees during mergers and enhancing organizational cohesion.
- AI encourages organizations to reassess their processes, potentially leading to improvements that do not necessarily involve AI solutions.
- AI tools like Copilot can simplify tasks such as drafting letters, making them more efficient and less error-prone.
- Hackathons and collaborative projects can reveal innovative AI applications, even from non-technical employees.
- Disclosing AI usage in communications can transform what was once seen as embarrassing into a badge of honor, increasing AI adoption.
- Using AI for personal tasks can demonstrate its power and encourage experimentation without the fear of breaking rules.
Insights
- AI in banking involves traditional AI, generative AI, and engenic AI (the intelligent agents that are built on both gen AI and traditional AI), which are now being integrated for more effective use.
- Establishing a governance framework, including a steering committee, policy, and charter, is crucial for safely integrating AI in banking.
- Common misconceptions about AI include regulatory disapproval, irrelevance to current operations, and fear of job replacement.
- Having a champion for AI initiatives within the bank is crucial for successful implementation and adoption.
- AI can enhance customer service by integrating company culture into automated responses, improving both customer and employee experiences.
- Sharing AI success stories within teams can inspire others to explore AI solutions for their tasks.
- AI can significantly increase productivity and efficiency in banking, potentially making banks 20% more productive in a few years.
- AI use in banking not only boosts productivity but also increases employee confidence and serves as a coaching tool.
- Using AI tools like Copilot can save time and increase efficiency, and disclosing AI usage can encourage adoption.
- Creating a prompt library and sharing AI agents can lead to a geometric increase in AI usage and efficiency.
- Running Monte Carlo simulations with AI can enhance strategic planning by providing a range of possible outcomes.
- AI is becoming a critical factor in hiring, as new employees expect access to AI tools and training.
- AI should not be seen as a universal solution; it is important to evaluate existing processes and determine if AI is the appropriate tool.
- AI can be used for personal tasks, such as planning vacations or creating recipes, which helps users understand its potential without compliance concerns.
- AI can save significant time and resources in marketing and business intelligence by automating content creation and demographic analysis.
- Employee engagement with AI can be fostered by setting goals for quick wins and encouraging staff to propose AI use cases.
- Microsoft’s Copilot is a powerful tool for enhancing productivity through features like intelligent meeting recaps and email prioritization.
- Introducing AI tools like Copilot can be done organically, encouraging employees to explore and innovate with the technology.
- Regulatory bodies are scrutinizing AI use in banking, emphasizing the need for risk assessments and board communication.
Link to access full audio recording and summary details: https://web.plaud.ai/share/ffdb1738882183301
Wisconsin Bankers Foundation Recognizes Initiative of Bank of Sun Prairie and St. Vincent de Paul

Jimmy Kauffman, Bank of Sun Prairie president and CEO (holding award); and colleagues accept the 2024 Wisconsin Bankers Foundation Financial Education Innovation Award from Rose Oswald Poels, Wisconsin Bankers Association president and CEO and WBF chair and treasurer; and Alvaro Araque, WBA chair.
The Wisconsin Bankers Foundation (WBF) is pleased to announce that Bank of Sun Prairie has been selected as the recipient of the 2024 Financial Education Innovation Award. The award was presented on February 6, 2025, at the largest banking industry event in the state, the Wisconsin Bankers Association (WBA) Bank Executives Conference, in Milwaukee.
“It is important to raise awareness that when unexpected expenses hit, banks offer much better alternatives to high-interest payday loans,” said Rose Oswald Poels, WBF chair and WBA president and CEO. “Bank of Sun Prairie’s partnership with St. Vincent de Paul is an outstanding program that connects people who are experiencing financial hardship with resources to get them back on solid financial footing.”
Bank of Sun Prairie has created a unique partnership with St. Vincent de Paul in Madison to provide microloans of around $500–$2,500. The program not only helps borrowers avoid costly payday or title loans, it also comes with financial literacy support. Participants are coached each month to help them find ways to make the minimum payment. One recipient, Terri, was able to pay off her car title loan and secure a low-interest loan with the bank. Terri’s monthly payment dropped from $437/month at 305% interest to $74/month at 5% interest, and she could afford to stay in her new apartment rather than become unhoused. The program also connects people with the bank’s Fresh Start Checking Accounts, which can help those who have had challenges with using and keeping a checking account in the past to move forward.
The WBF Financial Education Innovation Award is a prestigious category of the WBF Excellence in Financial Education Awards. Submissions for the 2024 WBF Excellence in Financial Education Awards encompassed over 900 financial education presentations — including Teach Children to Save Day presentations, homeownership workshops, and elder financial abuse prevention seminars, among other initiatives — given by more than 400 Wisconsin bank employees, reaching approximately 30,000 Wisconsin community members.
The Wisconsin Bankers Association’s Midwest Economic Forecast Forum featured a fireside chat with Federal Reserve Bank of Chicago President and CEO Austan Goolsbee, moderated by WBA President and CEO Rose Oswald Poels. The discussion spanned the Fed’s dual mandate (price stability and maximum employment), economic trends, supply chains, natural disasters, energy prices, Midwest industries, and the housing market — providing a detailed analysis of current economic conditions and forward-looking perspectives. Goolsbee is often asked whether he is a hawk or a dove, to which he jokingly replies, “I’m not a bird, I’m a data dog!” Throughout the program, Goolsbee provided an overview of the data the Fed monitors, accompanied by insightful analysis.
Inflation Trends and Economic Outlook
Goolsbee highlighted the Federal Reserve’s dual mandate of price stability and maximum employment. He noted that while employment has remained strong, the focus has been on curbing inflation, which has seen significant progress. The latest Consumer Price Index (CPI) showed a 2.9% year-over-year increase, reflecting improvements from previous peaks. Goolsbee emphasized the importance of analyzing long-term trends rather than monthly fluctuations, describing inflation as a “noisy series.”
Goolsbee is still optimistic that the economy can continue growing in 2025 and have a soft landing. He has been describing it as the “golden path.” Recent months have provided encouraging signs across core components: services, goods, and housing. Goods and services inflation has come down, and recently, housing inflation — a key post-COVID challenge — has started to come down. Despite progress, Goolsbee acknowledged seasonal patterns that typically bring higher inflation in early quarters, emphasizing the need for continued vigilance.
Policy Impacts and Scenario Planning
When addressing the potential economic implications of changing administrations, Goolsbee underscored the Federal Reserve’s role in adapting to policy changes. Using a metaphor well known to Midwesterners, “there is no bad weather, only bad clothing,” he likened putting on the proper jacket for the weather to scenario planning for policy implications for inflation and employment. Fiscal policies, including tax cuts and government spending adjustments, were cited as areas requiring comprehensive analysis to understand net effects — not just the effects of individual policies.
Supply Chains and Natural Disasters
Goolsbee discussed supply chain disruptions and their role in recent economic cycles. Recovery from COVID-related supply chain breakdowns significantly contributed to lowering inflation without inducing a recession. However, natural disasters, such as wildfires in California, can pose ongoing risks to supply chains and regional economies. While these events often have devastating immediate local impacts, rebuilding efforts can stimulate economic activity.
The increasing frequency of natural disasters has raised concerns about long-term economic adjustments, including shifts in where people choose to live and how they manage risks. Goolsbee noted that such supply-side shocks necessitate careful monitoring to mitigate broader economic disruptions.
Employment, Consumer Behavior, and Sentiment
The U.S. labor market has remained robust, with unemployment near 4%. Despite high wage growth, inflation has continued to decline, challenging traditional assumptions about their correlation. Goolsbee attributed this to nuanced sectoral dynamics and emphasized the importance of forward-looking indicators to guide monetary policy.
Consumer sentiment has diverged from objective economic metrics, with political partisanism influencing perceptions. Goolsbee pointed out that while sentiment data historically predicted spending trends, recent shifts have reduced its predictive value. Despite this, consumer spending and income growth remain strong.
Regional Economic Insights
Manufacturing and Healthcare
The Midwest’s economic health is closely tied to manufacturing, particularly durable goods and autos. Post-COVID shifts from goods to services spending have pressured the sector. Goolsbee noted that while manufacturing is not in crisis, it faces challenges as demand normalizes to include more services and phase out artificially high demand for goods. Healthcare, a major employer in the Midwest, is another area that Goolsbee pays attention to in terms of employment and consumer spending. While inflation in the healthcare and healthcare insurance industries has been lower than overall inflation, prices remain expensive.
Housing Market Dynamics
Housing affordability and inflation remain pressing concerns, with the relative prices of homes compared to other durable goods shifting dramatically over decades. Goolsbee projected interest rates to stay above pre-pandemic lows but below current levels. He highlighted the structural issues driving housing inflation, including decades of insufficient building, which have exacerbated affordability challenges in both urban and rural areas. He noted that no matter where he goes, employers will say their biggest hiring problem is that the cost of housing is so high that people won’t move there.
Agriculture and Energy
The agricultural sector has faced a challenging year following blockbuster periods. Food inflation has declined, but input costs remain high, squeezing farm incomes. Energy prices, particularly in the Upper Midwest during winter, pose concerns for households but are less emphasized in core inflation metrics. Goolsbee acknowledged the broader economic implications of volatile energy prices, especially in the context of geopolitical tensions.
Reflections on Two Years at the Fed
Reflecting on his tenure, Goolsbee expressed admiration for the mission-driven culture of Federal Reserve employees. He described Federal Open Market Committee (FOMC) meetings as highly deliberative and impactful. Operationally, he highlighted the Reserve Bank’s role in managing significant cash volumes and supporting member banks.
Goolsbee reaffirmed the Federal Reserve’s commitment to its 2% inflation target, emphasizing its role as a cornerstone of public confidence. He noted that while the path to achieving this target involves navigating uncertainties, the Fed remains steadfast in its mission.
In closing, Goolsbee commended the robust partnership between the Chicago Fed and regional stakeholders such as the Wisconsin Bankers Association, emphasizing the importance of communication in addressing economic challenges.
The Midwest Economic Forecast Forum was presented by the Wisconsin Bankers Association in partnership with the Illinois Bankers Association, Michigan Bankers Association, Minnesota Bankers Association, South Dakota Bankers Association, and Wisconsin Bankers Foundation. A special thank you to 2025 event sponsors BOK Financial Capital Markets and Wipfli.
By Rose Oswald Poels
The value of the network of other bankers whom you surround yourself with is priceless. We hear it time and time again from the membership: the need for time on conference agendas to allow for peer networking. As we turn the page to 2025, I wanted to share some information about powerful networking opportunities that are available to you and your teams through your WBA membership.
Wisconsin CEOnly and CFOnly Network
This annual membership network is open to all CEOs and CFOs currently employed at a Wisconsin-chartered bank. The group, which focuses on networking and idea sharing related to Wisconsin’s banking industry, provides bankers with the platform to anonymously ask questions and receive compiled responses via email as well as connect with peers at up to three in-person networking events. More than 100 Wisconsin bankers participate in this network and find great value in both the email services as well as getting together for the in-person meetings hosted in three different locations around the state each year.
National Society of Bank Executives
Founded in 2022 by WBA and 15 other state bankers’ associations, the Society was formed to provide a space for c-level bankers to connect across state borders to learn together and build a network. Each year the Society selects one key focus area, with the 2025 topic being Leading Change. Members will be connected with other c-level bankers from across the country for virtual peer groups, participate in two webinars focused on Leading Change, and participate in the October 22–-24 in-person summit in Miami, bringing together members in person for networking, learning sessions, roundtable discussions, professional and personal development activities, and more!
Learn More About the Society of Bank Executives
As a way to spread awareness for the Society, the February 2025 virtual forums will be complimentary for all WBA members to experience! These virtual forums will be professionally facilitated, interactive online sessions that allow senior bank executives to connect with peers outside of their competitive market, learn new perspectives, gain insights from others, expand their knowledge base, and focus on topics important to them. Here’s the information and registration links for the first round of sessions scheduled for February 2025:
- February 6, 2025 – Chief Human Resource Officer Peer Group, facilitated by Greg Beckwith, AI Mastery – Register here
- February 13, 2025 – Chief Financial Officer Peer Group, facilitated by Dale Sheller, The Baker Group – Register here
- February 20, 2025 – Chief Operations Officer Peer Group, facilitated by Tom McGill, Profit Resources, Inc. – Register here
- February 27, 2025 – Chief Executive Officer Peer Group, facilitated by Sean Payant, Ph.D., Haberfeld – Register here
All virtual events will be held via Zoom at 12:30 p.m. CT. The Zoom link will be emailed to attendees prior to the event.
WBA Connect Peer Groups
The WBA Connect Peer Groups are an excellent way for your staff members to develop their networks as well!
WBA Connect is a collection of banker-only peer communities designed to keep bankers connected and help one another grow. Membership in each WBA Connect group comes with access to that group’s exclusive online peer-to-peer email, set up using Google Groups. Certain groups will also coordinate in-person networking meetings as desired by the group’s membership.
The following WBA Connect Peer Groups are available:
- Allies for DEI in Banking
- Bank Trainers
- Commercial Lending
- Enterprise Risk Management
- Human Resources & Organizational Development
- Marketing
- Retail Banking
- Small Business Bankers
- Technology & Operations
- Treasury/Cash Management
Below is a Q & A with Meredith Strieff, vice president, customer experience at Horicon Bank. Strieff chairs the Wisconsin Bankers Association Building Our Leaders of Tomorrow (BOLT) Section Board and has recently taken on a newly created emerging leader seat on the American Bankers Association (ABA) Community Bankers Council (CBC).
What does the emerging leader role on the ABA CBC entail?
I have the honor of representing the Emerging Leaders Council (ELC) of the ABA within the Community Bankers Council of the ABA. This means that I participate in the working group and council meetings of the CBC, to continue to build the bridge between our two groups. Keeping the CBC informed and included in the initiatives of the ELC, bringing our perspectives, successes, and challenges to light. On the flip side, I bring back the perspectives and initiatives of the CBC to the ELC, helping to drive continued collaboration and forward-thinking approaches toward collective success for the banking industry as a whole.
How do you see the role of emerging leaders shaping the future of the banking industry?
Emerging leaders in general: this is our future! And it’s bright! We, as an industry, need to be deliberate in our nurturing and give this group a voice. Listen to them, learn from them, and do not be afraid of change. The ELC, specifically, is the most caring, compassionate, and most innovative minds in banking. They’re passionate about helping their communities, to make lives better, whether that’s through traditional financial services, partnerships with Fintechs to deliver forward-thinking solutions or educating their communities to enhance the fight against fraud. The drive of these individuals is admirable, and they aren’t afraid to speak up, together, to harness the power of community banks across the country. Lastly, this group is in the ‘boots on the ground’ team at most of their banks — still very much involved in the day to day, where they are experiencing the challenges and successes of community banking along with our customers. This is a powerful place to be that will allow for some of the greatest strides in innovation and customer experience in the coming years. It’s exciting to have the opportunity to be a part of that.
What have you learned by being a part of the Council?
ELC — There is far too much to appropriately summarize here. A few highlights:
- Say yes. When someone asks you to step into a role or speak at conference, or sit on that panel, Just. Say. Yes.
- (Emerging) leadership is a journey and you’re never done learning. No one started knowing it all, and no one knows it all now. Ask questions and LISTEN to others. They may not have the answers, but they certainly have perspective and the importance of different perspectives gets even bigger as your leadership journey continues.
- I’ve learned no matter if you’re a community bank from the East Coast or the West Coast, big or small, we’re dealing with the same challenges, and we’re all in this together.
CBC — I’ve only had the one meeting with the CBC thus far, however I have learned that this group of bank CEOs and presidents are amazing people who don’t just talk, they’re out there getting things done. They care about the communities they serve and understand the collaborative power that can be harnessed when we’re all working together.
How has being a part of the Council shaped your perspective on the industry as a whole?
Both ELC & CBC have reinforced my perspective on community banking as a whole. Across both groups, the passion for helping our communities grow and thrive is evident and at the heart of what we do each day. The fight against fraud is real — but never once has the focus been on saving the bank money in loss; the passion for this growing problem is rooted in genuine care for our customers — saving them from potential loss.
How did you get involved in advocacy at the state and national levels?
I’m sure you’ve heard me say this before — I was never, ever, going to raise my hand to sign up to go to Capitol Hill in D.C. to advocate for our banking industry. With the honor of chairing the WBA’s BOLT Section, I was offered the opportunity to attend this event with a group of BOLT bankers, along with WBA staff members. Rose and the team at WBA made this experience so welcoming — simple and easy to navigate, and I felt very prepared and supported throughout. I jumped right into the national level with this trip, and have unfortunately, never had the ability to attend Capitol Day in Wisconsin, due to scheduling conflicts.
What advice do you have for a banker who is interested in advocacy?
Just. Say. Yes. (There’s a theme here.) Sure, it can be daunting at first, however it’s helpful to remember: it’s just people talking to other people. You’re the expert in what you do — banking! Our representatives need to hear from us, and they want to know real life impacts the decisions they are making have on their people they were elected to care for. Understandably, there’s not always an opportunity to go to D.C. or similar, however, you can advocate right here at home! The WBA and ABA have oodles of resources — from pre-written letters and information on policy and regulation proposals to be sent to local representatives to scholarships available to attend a Washington Summit or WBA Capitol Day — check out what’s available! Don’t be afraid to ask your bank’s leadership how you can get involved and be a voice for our industry! If you’re not quite ready for the jump to 100% advocacy, start by joining BOLT and get your feet wet with this group of amazing individuals who are supporting the mission of BOLT: Leadership, Education, and Advocacy.
By Al Araque
On September 12, I had the pleasure of gathering with colleagues, WBA members, and special guests at the Wisconsin Bankers Foundation’s second annual gala. The gala, held at the Wisconsin Historical Society, celebrated the WBF’s mission of empowering financial decisions through education, scholarships, and research. WBF is the non-profit arm of the Wisconsin Bankers Association and was granted public charity status in 2015.
A sincere thank you to the generous sponsors, donors, and attendees who helped WBF raise a net profit of $23,000! I departed with some excellent auction items and a good feeling having learned about the meaningful work being done by the four WBF grant
recipients: 6:8, Inc, Asset Builders, Eastbrook Academy, and Economics Wisconsin. I also got to hear an inspiring speech from Cole Hicken, a 2021 WBF Spring Scholarship recipient, who has already achieved success in the industry.
Each year WBF awards grants to support non-profit organizations whose work aligns with the foundation’s missions. If you work with a non-profit in your community that assists in providing the public with the resources and knowledge to make sound financial decisions, encourage them to apply. Applications for the 2025–2026 fiscal year are accepted February 2025–May 2025.
The foundation has two scholarship programs. The Agricultural Banking Scholarship (applications are open through November 15!) of $1,500 is given to two winners annually. The Spring Scholarship application opens in early 2025. Four winners of $2,000
scholarships are selected. Details about both scholarship programs can be found on the WBF website.
Here are just a few of the many positive impacts of financial literacy:
• Financially literate individuals are more likely to engage in responsible financial behaviors, such as creating budgets, managing expenses, and prioritizing savings.
• Studies show that people with higher financial literacy tend to have lower levels of high interest debt, such as credit card debt.
• Financial literacy education has been linked to higher participation in retirement savings plans.
I hear from leaders at financial institutions around the state that financial literacy is top of mind. But not all banks have the resources to create collateral or design presentations for their communities about financial literacy. That is where WBF can help so much. I urge banks to consider WBF a clearinghouse for financial education resources and encourage you to leverage those resources. Lots of helpful information can be found on the WBF website, including links to resources from agencies like FDIC and CFPB and programs like BankOn. The resources provided by WBF include a range of free financial literacy lessons targeted at K–12 children, college students, business owners, older adults, and everyone in between.
If bankers are looking for ways to get involved, you’ll find information about volunteer opportunities with organizations like ABA, Junior Achievement, and local Finance & Investment Challenge Bowls.
WBF also partners with WBA to generate new consumer content on the current financial issues impacting your customers. These resources are meant to be distributed to clients and help start the conversation about check fraud, budgeting, and more. Check out the Consumer Content on the WBA website.
Because financial literacy is so crucial, WBF recognizes the banks and volunteers who generously donated their time and expertise each year to do presentations in their communities. Whether it is through the popular Read Raises Interest Kits distributed statewide for National Teach Children to Save Day, workshops for first-time homebuyers, or fraud prevention seminars. Staff is preparing for the Excellence in Financial Education awards which will be presented at the FLEX: Retail and Marketing Summit in November. These impressive stats were recently shared with me: over 400 volunteers did 900+ financial education presentations which reached more than 30,000 individuals in communities across Wisconsin (ranging from elementary school students to senior citizens).
WBA staff will be working with the Financial Literacy Advisory Board to select the 2025 Reading Raises Interest (RRI) book. Previous RRI books and related resources including lesson plans are available on the WBF website.
The Innovation Award winner will be announced at the annual WBA Bank Executives Conference in February. The award recognizes one bank that has taken a unique approach to empowering the financial decisions of its community members. It’s always inspiring to hear about the winning bank’s programs.
Let WBF support your bank’s commitment to helping customers and community members build a strong financial foundation.
Araque is SVP, director of consumer, private, and business banking with Johnson Financial Group, Racine, and the 2024–2025 WBA Chair.
In partnership with Employ Milwaukee, the Wisconsin Bankers Association (WBA) is proud to bring the nationwide BankWork$ program to Wisconsin. BankWork$ is a free, eight-week training program to prepare participants — primarily individuals from under-resourced communities — for retail banking careers. Upon graduation, each class then takes part in a hiring event featuring BankWork$ employer partners.
In August, a class of nine students — including — graduated from the program. WBA’s Rose Oswald Poels attended the ceremony and congratulated the graduates on their achievement.

Pictured (left to rigth): Front row WBA President and CEO Rose Oswald Poels, Augustin Khey, Erika Winters, Valerie Santiago, Victoria Smith, and instructor Adriene Wright. Back row Diarelis Rodriguez , Mariah Lee-Salisott, Glenn Morgan, Cortney Corprue, and Cynthia Cohn
Over the course of the eight-week program, students learned the heard and soft skills necessary for entry-level retail and operations positions. Beginning in 2019, the program has now provided over 130 individuals in the Milwaukee area with the opportunity to begin a career in banking.

Pictured (left to right): WVA President and CEO Rose Oswald Poels presented a check to program instructor Adriene Wright.
Oswald Poels also presented a sponsorship check from WBA to instructor Adriene Wright in support of the program.
To learn more about the program, or how your bank can get involved, please visit employmilwaukee.org/BankWorks.htm.
For agricultural producers looking to become more energy efficient, they may want to check out the USDA’s Rural Energy for America Program (“REAP”). This program provides guaranteed loan financing and grant funding to agricultural businesses and rural small businesses for renewal energy systems, or to make energy efficiency improvements. Agricultural producers can also use guaranteed loan funds to install energy-efficient equipment and systems for agricultural production and processing.
Who can apply? Agricultural producers with at least 50% of their gross income coming from agricultural operations and small businesses in rural areas with populations of 50,000 or less.
How can funds be used? For renewal energy systems such as: Biomass (biodiesel and ethanol, anaerobic digesters and solid fuels); Geothermal for electric generation or direct use; Hydropower below 30 megawatts; Hydrogen; Small and large wind generation; Small and large solar generation. Funds can also be used to buy, build, and install energy efficiency improvements such as: High-efficiency heating, ventilation, and air conditioning systems (HVAC); Insulation, Lighting, Cooling or refrigeration units; Doors and windows; Electric, solar, or gravity pumps for sprinkler pivots; Switching from a diesel to an electric irrigation motor; Replacement of energy-inefficient equipment.
What types of funding are available? Loan guarantees on loans up to 75% of total eligible project costs, Grants for up to 50% of eligible project costs, Combined grant and loan guarantee funding up to 75% of total eligible project costs.
Applications for REAP loan guarantees and grants are accepted year-round at the local USDA Rural Development office. Please visit www.usda.gov for more information.
Wilke is vice president – agricultural banking at Bank First in Denmark. Wilke also serves as the current Chair on the 2024–2025 WBA Agricultural Bankers Section Board of Directors.