The June BankWork$ class has now graduated! The Wisconsin Bankers Association is proud to partner with Employ Milwaukee to bring this nationwide program to Wisconsin. BankWork$ is a free, eight-week training program to prepare participants in primarily underserved neighborhoods for retail banking careers.
This graduating class of five included Yesenia Delgado, Nayeli Rocha, Dawanda Street, Evan Taylor, and Darnesha Wilson. WBA’s Daryll Lund attended the ceremony and congratulated the graduates on their achievement.
Over the eight weeks, these students learned the hard and soft skills necessary for entry-level retail and operations positions. The program began in 2019 and has so far provided more than 4,000 graduates in the Milwaukee area the opportunity to begin a career in banking.
Thank you to the following banks for sponsoring this program:
- Associated Bank, Green Bay
- Bank Five Nine, Oconomowoc
- First Federal Bank of Wisconsin, Waukesha
- First Midwest Bank, Milwaukee
- Johnson Financial Group
- PyraMax Bank, Greenfield
- Spring Bank, Brookfield
- The Equitable Bank, Wauwatosa
- Waterstone Bank, Milwaukee
- Wells Fargo
By Rose Oswald Poels
Earlier this month, the Wisconsin Bankers Association (WBA) began its 2022–2023 fiscal year. The ceremony, held on June 8, formally installed President and CEO of The Stephenson National Bank and Trust Dan Peterson as WBA’s chair of the Board, welcomed several new Board officers, and thanked several members for their valuable contributions to the association as they ended their terms.
Dan was able to sit down with me for a short conversation to introduce himself to the membership and highlight the goals he has for the organization for the upcoming year.
Dan first started his career in banking as an assistant loan officer at The Stephenson National Bank and Trust in 1988. After gaining experience in all lending areas of the bank, he was promoted to his current role as president and CEO in 2013.
As chair of the WBA Board of Directors, Dan aims to deepen member engagement this fiscal year. Following nearly three years of remote or hybrid events, conferences, and schools, it is no question that bankers throughout the state are looking to reengage with their peers and gain valuable experience outside of the office.
As more education and advocacy-related opportunities at WBA return in person — such as peer groups reconvening at our office in Madison or conferences occurring at venues across the state once again — the membership is encouraged to take advantage of WBA’s selection of options to further develop skills, network among peers, or volunteer time for the benefit of our entire industry.
In addition to taking part in events held by WBA, Dan offers a few other ways bankers may consider deepening their engagement with the association. WBA’s newly renovated office in Madison features a state-of-the-art Engagement Center for members from around the state to use, and the Wisconsin Bankers Foundation (WBF) — WBA’s non-profit arm — offers resources that assist bankers in further engaging and connecting with their communities on the topic of financial literacy.
As Dan, the WBA staff, and I look ahead to another summer and fall filled with opportunities for bankers to deepen their knowledge and expand professional networks — we encourage you and your staff to engage however possible. By joining our CEOnly/CFOnly Network, becoming an Advocacy Officer, or attending any WBA school or event, you assist us in better serving you!
To learn more about WBA Board Chair Dan Peterson and his goals for the upcoming fiscal year, please keep an eye out for WBA’s upcoming July Wisconsin Banker.
WBA Releases Results of Bank CEO Economic Conditions Survey
In the Wisconsin Bankers Association’s biannual Economic Conditions Survey of Wisconsin bank CEOs, 71% of respondents rated Wisconsin’s current economic health as “excellent” or “good.” This marks a decline from the mid-year 2021 survey, when 91% of survey respondents gave “excellent” or “good” ratings. Nearly all (over 98%) of the Wisconsin bank CEOs who completed the most recent survey predict that the economy will stay the same or weaken in the next six months.
“Wisconsin bank CEOs have a unique vantage point in that they are both financial experts and highly involved individuals in their local communities,” said WBA President and CEO Rose Oswald Poels. “While the economy remains relatively stable, bankers are keeping a close eye on important indicators and stand ready to support their customers through possible economic challenges over the coming months.“
Among the economic bright spots cited by bank CEOs in the survey were strong tourism, construction, manufacturing, and agricultural industries. Survey results indicate that the hiring market and real estate market are cooling down. Top economic concerns reported by bank CEOs were inflation, cost of living/childcare/education, rising interest rates, oil and gas prices, staffing shortages, and the war in Ukraine.
The mid–year 2022 survey was conducted May 24–June 10 with 56 respondents. Sums may not equal 100 percent due to rounding. Below is a breakdown of the survey questions and responses.
Wisconsin Bank CEO Economic Conditions Survey Results
How would you rate the current health of the Wisconsin economy. . . | Mid-Year 2022 | End-of-Year 2021 | Mid-Year 2021 |
Excellent | 7% | 6% | 15% |
Good | 64% | 73% | 76% |
Fair | 29% | 20% | 10% |
Poor | 0% | 1% | 0% |
In the next six months, do you expect the Wisconsin economy to. . . | |||
Grow | 2% | 21% | 48% |
Weaken | 63% | 15% | 39% |
Stay the same | 36% | 64% | 13% |
Over the next six months, do you expect inflation to. . . | |||
Rise | 50% | – | – |
Fall | 22% | – | – |
Stay about the same | 28% | – | – |
How likely would you say a recession is in the next six months? | |||
Very unlikely | 4% | – | – |
Unlikely | 16% | – | – |
Neutral | 20% | – | – |
Likely | 45% | – | – |
Very likely | 16% | – | – |
Rate the current demand in the following categories: | |||
Business Loans | |||
Excellent | 2% | 9% | 10% |
Good | 48% | 48% | 30% |
Fair | 48% | 39% | 52% |
Poor | 2% | 5% | 8% |
Commercial Real Estate Loans | |||
Excellent | 7% | 11% | 13% |
Good | 52% | 44% | 44% |
Fair | 36% | 41% | 33% |
Poor | 5% | 4% | 10% |
Residential Real Estate Loans | |||
Excellent | 2% | 25% | 40% |
Good | 20% | 48% | 48% |
Fair | 50% | 24% | 12% |
Poor | 29% | 3% | 0% |
Agricultural Loans | |||
Excellent | 2% | 1% | 2% |
Good | 37% | 22% | 34% |
Fair | 51% | 58% | 56% |
Poor | 10% | 18% | 8% |
Deposit | |||
Excellent | 5% | – | – |
Good | 55% | – | – |
Fair | 38% | – | – |
Poor | 2% | – | – |
In the next six months, do you anticipate the demand for the following categories will. . . | |||
Business Loans | |||
Grow | 11% | 28% | 43% |
Weaken | 48% | 14% | 7% |
Stay the same | 41% | 59% | 51% |
Commercial Real Estate Loans | |||
Grow | 13% | 24% | 31% |
Weaken | 48% | 21% | 8% |
Stay the same | 39% | 55% | 31% |
Residential Real Estate Loans | |||
Grow | 4% | 11% | 14% |
Weaken | 63% | 56% | 41% |
Stay the same | 34% | 33% | 46% |
Agricultural Loans | |||
Grow | 6% | 15% | 18% |
Weaken | 31% | 14% | 6% |
Stay the same | 63% | 71% | 76% |
Deposit | |||
Grow | 11% | – | – |
Weaken | 36% | – | – |
Stay the same | 53% | – | – |
In the next six months, are the businesses in your bank’s market area likely to. . . | |||
Hire employees | 31% | 68% | 82% |
Maintain current staffing levels | 61% | 33% | 15% |
Lay off employees | 7% | 0% | 3% |
In the next six months, is your bank likely to. . . | |||
Hire employees | 34% | 55% | 48% |
Maintain current staffing levels | 63% | 43% | 45% |
Lay off employees | 4% | 3% | 6% |
The Society of Bank Executives offers opportunities for professional development
As the deadline to sign up for the Society of Bank Executives pre-launch session quickly approaches on July 30, c-suite bankers and executive team members are reminded to use this opportunity to invest in their own professional development for the benefit of their entire team.
The Society of Bank Executive, officially launching in January 2023, is offering Wisconsin bankers the ability to participate in the Society’s pre-launch session starting this August. Bankers receive a 25% discount for two years when they sign up before July 30, 2022.
The pre-launch session will focus on honing the skills of trust and team building of bank executives from around the country. During the four-month session, bankers will have the opportunity to hear from Doug Faber, consultant at Franklin Covey during a virtual presentation on “the speed of trust” as well as Casey Thompson, principal consultant at The Table Group during a virtual presentation on “trust and the dysfunctions of a team”. All virtual presentations will also be available on demand for 30 days after the live event.
In addition to learning from experts — Wisconsin bankers are also invited to join bank executives from around the country in Sun Valley, Idaho for a two-day networking event. Not only does this event offer bankers the ability to expand their networks outside of their typical markets, bankers will also be able to share tips from their experience and ask questions of their peers.
The pre-launch session will wrap up in November with a virtual refection moderated by Dr. Paul Godfrey, Society of Bank Executive’s academic advisor. In this final meeting, bankers will reflect on the previous meetings and how they will be able to implement their personal strategy to leverage the power of trust.
Learn more about the Society of Bank Executive by visiting www.executives.bank/home.
From the Desk of Rose Oswald Poels
Every day, bankers throughout the state make remarkable efforts to assist their neighbors in building a solid financial future. This tradition often goes above and beyond the normal role of bankers — taking them into classrooms or community centers — and has proved time and time again the value of the connections formed by community bankers in assisting Wisconsinites of all ages to gain important financial education. Our industry does not get enough recognition for all it does since bankers are often quick to deflect attention and praise to others.
This article serves as a reminder of the various recognition and awards that you — individually and as a bank — may apply for. I encourage all of you to take the time to apply and be recognized for the dedicated and often creative work you do to improve financial education.
Individual Financial Education Efforts
The Wisconsin Bankers Foundation (WBF) recognizes individual bankers for their financial literacy efforts throughout its fiscal year. Bankers are able to submit summary forms recognizing each presentation, visit, or volunteer time spent with classrooms and community members focused on increasing financial literacy. WBF compiles total numbers of presentations and/or outreach events and awards bankers based on these totals. I highly encourage bankers to submit their forms reflecting their individual efforts in financial education from June 1, 2021 to May 31, 2022 by the July 31 deadline. To begin submitting your summary forms, visit www.smr.to/p80094. These awards are presented in the fall at WBA’s Lead360 Conference.
Bank-Wide Financial Education Efforts
WBF also recognizes banks as institutions for the aggregate time spent by employees during the period from June 1, 2021 through May 31, 2022 on financial education efforts. Since this award is based on the aggregate time spent by each bank on financial education initiatives, several banks may win this award. In addition, a bank may also submit an application for WBF’s most prestigious award, the Financial Education Innovation Award. This award recognizes only one member bank for its innovative approach to financial education. To learn more about WBF’s bank-wide awards or submit the summary form by July 31, visit www.smr.to/p77960.
WBF’s Bank Award
The Bank Award compiles the various financial education efforts put forth by the whole bank and showcases the tremendous work done by all employees. This award is presented in the fall at WBA’s Lead360 Conference.
WBF’s Financial Education Innovation Award
The Financial Education Innovation Award recognizes one bank for adopting an innovative, creative, and/or unique approach to financial education annually. Now presented at WBA’s Bank Executives Conference in February, this well-deserved honor recognizes a bank’s innovative approach to financial education.
2022 Governor’s Financial Literacy Awards
In addition to submitting a summary of financial education activities and efforts to WBF for recognition, I highly encourage bankers around the state to also consider applying for one of three categories of the 2022 Governor’s Financial Literacy Awards.
Recipients are selected by a subcommittee of the Governor’s Council on Financial Literacy and Capability based on their excellence in increasing financial literacy, capability, and inclusion among Wisconsin residents. I am proud to be a member of this Governor’s Council but have noted that in the past few years very few banks have been applying for this recognition all the while credit unions are applying. The awards highlight individuals, businesses/organizations, and legacy efforts throughout the state to improve financial education.
I highly encourage banks to share their financial education efforts by submitting the 2022 Governor’s Financial Literacy nomination form by the December 2 deadline for the chance to be recognized for the outstanding work bankers engage in every day. The nomination forms are now available, so do not wait until later this year to submit your bank’s nomination.
Uncovering the hidden talents in your team
By Lisa Dixon
We all have hidden talents. At least that’s what my mom used to tell me every time I failed to land a cartwheel — something I still believe every 11 year old, besides me, could do. But she meant well and although I never did learn how to do a cartwheel, I did have other talents that my friends didn’t. And in today’s world, where staffing is tougher than ever and every business is vying for the same pool of candidates, this might be a good time to step back and look for those hidden talents in your workforce.
A few years back, Westbury Bank wanted to put together a welcome video for new hires — something that was fun and would really showcase the team. As we were discussing the project, someone remembered that we had a part-time teller who was going to school for video production. After talking with the employee and sharing our vision of the video, he was excited to not only shoot it, but to write a script and edit the final product. It turned out great and started us on a path to discover what other talents our coworkers might be hiding.
When we were looking for a photographer to shoot some pictures for a billboard campaign, we first turned to our employees to see if anyone had photography skills. Sure enough, our part-time teller had been dabbling in photography for a few years and was thrilled at the opportunity. It was a win-win. We got great shots for our billboards, and he got some real-world samples to add to his growing portfolio.
It’s not just those “creative talents” that I’m talking about. We tend to think of employees’ skills based on the title they have. Teller, deposit operations, compliance, marketing, etc. But if you really get to know your employees, you may find skills that neither you nor they ever considered. Need help with social media? You likely have someone who is well versed and would love to assist with creating posts. Accounting is struggling to find entry level candidates? Look to your branch staff, where you may find someone who not only understands how the front end works but also has the aptitude and drive needed to apply those skills on the back end. Commercial credit needs help? We have filled a number of those spots with part-time college students who became full-time employees upon graduation.
I’m not necessarily suggesting you “rob Peter to pay Paul,” although in some cases that might be the case — there are certain positions that are easier to fill than others. But, instead, be creative. Stop limiting your perception of employees’ skills based on their current title. Talk to employees about what their drive and passions are, and maybe then you’ll uncover some hidden talents.
Dixon, senior vice president – retail banking at Westbury Bank in Waukesha, is a member of the 2021–2022 WBA Marketing Committee.
This column is published bi-monthly in Wisconsin Banker and is written by members of the WBA Marketing Committee.
By Hannah Flanders
Following one of the deadliest pandemics the world has seen, U.S. government officials, businesses, and individuals alike have naturally begun to reassess what safe health practices look like. In banks throughout Wisconsin, this is certainly no different. From plexiglass to constant reminders to sanitize, cover your mouth, and stay home when you are sick — these lessons aren’t a byproduct of the COVID-19 pandemic but rather knowledge that has subtly been around us this whole time without us really noticing.
From buffet sneeze guards to “employees must wash hands before returning to work” signs, safe health practices were evident in public spaces long before COVID. What the pandemic did bring about, however, was the general public’s awareness to safety and health practices.
At the onset of the pandemic, bankers across Wisconsin assembled plexiglass screens and masked up for the protection of themselves, their coworkers, and every customer. Unlike before, health protocols were broadcasted on the news, posted on doors, and mentioned at every meeting. This hyperawareness, while effective in helping stop the spread, has highlighted specific efforts needed to accommodate the safety of every member of the community.
“Often times, customer ‘protocols’ are framed negatively in the eye of the customer,” says Mike Parnon, architect at Brookfield-based BrandPoint Design. “It is important that banks are able to find a balance in improving overall customer experience by conveying their attentiveness to both financial and physical health.”
Mandates set in place during COVID at the state and federal level stressed the importance of complying with the Americans with Disabilities Act of 1990 (ADA). This civil rights law, and code for contractors, emphasizes the accessibility of public spaces. The pandemic highlighted for businesses throughout the state the need to further prioritize safe, accessible spaces for all.
Be it expanding mobile banking applications, so customers have access to their money wherever, or integrating more private spaces into bank designs — Wisconsin banks have taken full advantage of these COVID-19-related constraints to create opportunities for their customers.
“The health, safety, and well-being of our employees, customers, and community will always be a top priority for Bank First,” said Rachel Oakes, marketing communications manager at Bank First in Manitowoc. “While office cleanliness and sanitation were always a part of our procedures, COVID has redefined many things. We will continue enhanced sanitation procedures and offer hand sanitizer at our offices.”
During the peak of the pandemic in 2020, banks throughout the state established COVID committees tasked with monitoring, planning, and communicating critical information related to COVID-related guidance onto bank employees and customers. As guidance, even today, continues to evolve, one thing remains the same — daily cleaning and sanitation of all workstations and high-contact surfaces continues to be implemented at most Wisconsin banks.
While some procedures have been eradicated since early 2020, many of them have provided opportunities to further invest in the interest of both the customer and bank employees. “There is a greater awareness of health and public safety and [Bank First] has found that staff and guests are very understanding of any continued procedures and are thankful to see the end of some stricter protocols.” added Oakes.
Since the onset of COVID, community areas in bank branches have shifted their look and feel as well. While many areas remain open for additional seating, coffee and snack stations have either closed or shifted to individually packaged items. In addition, some banks, such as National Bank of Commerce in Superior, have closed their restrooms to the public unless specifically requested by a branch.
“National Bank of Commerce’s approach to protect our associates, customers, and the community, driven by our Business Continuity Plan, helped inform our desire to do what is right for our community,” said Lindsey Growette Stingle, senior vice president — human resources at National Bank of Commerce. “I believe that our associates have adapted well to the ever-changing environment and have shown a willingness to be flexible with the ultimate priority being the safety of their fellow associates, customers, and the community.”
As banks continue to balance differing customer needs in terms of health and safety in their offices, many continue to offer optional protection measures. “At National Bank of Commerce, hand sanitizer, masks, and (requested) rapid tests are still available to all associates,” says Growette Stingle. Additionally, many other Wisconsin banks continue to offer plexiglass shields at teller lines for bankers and customers who wish to use them and have incorporated remote options — either on a case-by-case basis or for those whose position allows.
“Educating the customer is critical in an institution with environmental changes,” states Parnon. “Finding productive ways to inform clients of [the bank’s] position regarding health, safety, comfort, and service is the first step in achieving good practices.”
While banks continue to update their COVID-related guidelines for both their staff and customers, creating safe and healthy spaces for community members has always been a priority for Wisconsin banks. While this may mean the sanitation of pens or the closure of specific areas, it is all done with the best interest of the community in mind.
Although the number of COVID cases throughout the state continues to decrease, banks carry on their commitment to their communities in everything they do. While these positive health-related activities are far from unheard of (even pre-COVID), the heightened public awareness of safe, hygienic spaces caused by the pandemic has allowed room for more solutions that encourage both accessibility and connection.