Executive Letter: Share Your Community Involvement
By Rose Oswald Poels
At the heart of the banking industry is community. Now more than ever, it is imperative that members of the Wisconsin Bankers Association (WBA) shine a spotlight on the work they do to contribute to the wellbeing of their communities, both inside and outside the office.
Credit unions continue to tout the “exemplary” work they do to engage and support their communities. However, WBA and bankers from across the state know that banks, too, do important work to support your communities above and beyond what may be required under CRA. Between volunteering your time, donating supplies and money, and helping to educate community members young and old — among so many other things — bankers make a meaningful impact every day. However, many bankers are reluctant to take credit, highlight the work they do, or take time to share the information with WBA.
As WBA’s government relations team looks ahead to a busy 2025-2026 legislative session, we need bankers to share your contributions to better your communities so WBA can demonstrate the industry’s positive impact. Keeping these examples top of mind for legislators helps to advance our advocacy efforts.
In addition, WBA achieved a historic tax law change that gives C- and S-Corp banks a tax exemption on the interest, penalty, and fee income earned on commercial and ag purpose loans of $5 million or less where the loan is made to a Wisconsin resident, or a business located in Wisconsin. With this exemption, it is also important to share how the savings have benefited your bank and bank customers. Increasing loan volumes to business and ag customers, reducing interest rates and fees, and other enhanced abilities to increase community involvement are also important stories to share.
As I shared at the WBA Bank Executives Conference, WBA needs you to please complete the WBA Community Involvement Survey to assist our team in accurately highlighting the unique ways WBA members partake in philanthropy and volunteer activities and how such activities have flourished given the historic tax law change. The survey will take approximately five minutes to complete and responses should be submitted no later than March 14, 2025.
Thank you very much for your time in completing the survey! This information will help WBA share the banking industry’s strong message of community and further demonstrate to our elected leaders the critical role banks play in supporting their neighbors.
