Tag Archive for: Advocacy

Posts

Wisconsin state capital building view from above
, ,

Taking the Lead on Advocacy

By Lorenzo Cruz

The Wisconsin Bankers Association’s (WBA) mission to support our members is rooted in advocacy. However, the advocacy we do on behalf of the banking industry is not successful without your active participation in partnership with WBA. In addition to responding to grassroots email alerts asking you to contact your state or federal elected officials, we need you to participate in our annual Capitol Day in Madison to directly share with legislators the positive impact banks have on Wisconsin’s economy. Since the state legislature only meets in the spring in an election year, WBA’s Capitol Day is just around the corner, scheduled for February 22, 2024.

What is Capitol Day?

The one-day event is held annually in Madison and features updates from WBA staff on key issues impacting banks in Wisconsin as well as a legislative panel and guest speaker. These morning sessions provide the perfect opportunity to gain insight into the political and policy landscape of the state, along with the specific legislation affecting the banking industry prior to heading to small group meetings with state legislators.

In the afternoon, WBA schedules meetings for each banker attending with their elected state legislators determined by Assembly and Senate district. Bankers from all areas of the bank are encouraged to participate in Capitol Day and make their voices heard. While it may seem daunting, our team works diligently to ensure each attendee is prepared with talking points and handouts to have impactful conversations with their legislators. The relationships formed between bankers and their representatives continue to be critical in reinforcing the impact legislative proposals will have on local banks and communities, as well as the industry.

Why Does it Matter?

In 2023, the membership shattered WBA’s Capitol Day attendance record with nearly 200 bankers in attendance for the annual event. Almost half of those present in 2023 were first-time attendees. It is vital that bankers not only continue to voice their opinion on policies impacting them, but also encourage others to provide new perspectives that augment the voices of our seasoned advocates.

By meeting with 75% of the legislators in our state, our presence at the State Capitol this past May unified the voice of Wisconsin’s banking community and resulted in the historic tax parity relief and personal property tax repeal wins we saw passed in the budget this summer. Legislators and staff sincerely value hearing directly from their local bankers (YOU!) on the issues impacting their district.

However, WBA isn’t the only business association to host a government day to educate and lobby legislators on the policy matters that impact their industry. In the past several years, credit union activists and realtors have shown up in larger numbers to represent and advocate for their industries. With many more legislative priorities that we wish to accomplish, including guarding against credit card swipe fees and pushing for financial institution modernization and elder fraud protection, it’s important that we do the same!

With so much at stake, an even larger turnout is warranted for the 2024 event. Our team is hoping to see at least 300 bankers in Madison for WBA Capitol Day. Your voice unequivocally matters to our advocacy success so if you would like to help shape the issues affecting the success of the banking industry, I highly encourage you to mark your calendars for February 22. It is well worth your time and effort.

Taking the Next Step

Equally important to our grassroots initiatives are our political fundraising efforts from an advocacy standpoint. While it is never easy asking for monetary support, the political reality is that in order to maintain existing allies and garner future ones, we need to provide financial support to elected officials and candidates who will aid us in safeguarding the banking industry.

If we neglect this task, we run the risk of a competitor or adversary gaining the advantage to pass legislation or an administrative rule that harms our industry. Legislative issues WBA is defending against, including a change in lien priority, additional regulatory burden in the form of new privacy rules or ESG/fair access concerns, or losing revenue in the form of interchange fees, individually or in combination, would be detrimental to the success of the banking industry if enacted into law.

With the 2024 election season quickly approaching, and campaign spending expected to break even more records, WBA set a goal of raising $300,000 in personal contributions to either Wisbankpac or the Alliance for Bankers Conduit (ABW) in 2023. As of this writing, we are at nearly 75% of this goal. With your help, we can replenish our political fundraising campaign coffers and support the elected officials and candidates who support you!

Your contributions — both monetary and grassroots support — make a tremendous difference. To learn more about all the ways you can help be a strong advocate for your bank and the industry, please visit wisbank.com/advocacy.

Learn More
/by
Triangle Background
, , ,

Committee Chair Spotlight: Candy Allard

Candy Allard

The following is a brief interview with Candy Allard, assistant vice president – human resources specialist at Badger Bank in Fort Atkinson. Allard is chair of the 2023–2024 Human Resources Committee.

How did you first get into the banking industry?

I was actually approached by the then CEO about a new position that was opening up. I knew him outside of the bank through other businesses associations. I’ve also banked here for 25+ years.

Why did you decide to join a WBA committee? Why should others consider lending their time and expertise to shaping Wisconsin’s banking industry?

I saw the opening to join this committee through the WBA Wisconsin Banker magazine. Since I was completely new to banking, I couldn’t think of a better place to learn the ins and outs of HR in the banking world. This was one of the best decisions I made. It’s great to be able to give my input (and be heard) along with others because of all of the different asset sizes and number of FTE’s.

How has WBA facilitated the growth you have seen in your career and as a leader?

I’ve become more confident in sharing my ideas with senior management. I’ve taken on a bigger role in some of the decisions regarding our employees. Being a part of the Human Resources Committee not only has given me confidence in myself, but has offered a whole new perspective on my ability to be a leader. With that being, said I’ve also become a part of the Association’s Advocacy efforts and have participated in Capitol Day for the last two years.

As a banker, and as a leader, what is the most important lesson that you have learned?

I’ve learned how to advocate for the employees while still protecting the bank.

Who (or what) motivates you to succeed?

Our employees are my biggest motivators. I feel a sense of satisfaction when I’ve helped someone get through a tough time whether it’s a personal matter or a work issue. Senior management have also helped me to succeed by listening and supporting some of my ideas and decisions that I have made.

/by
Triangle Background
,

Ravenscroft Elected to ICBA Federal Delegate Board for 2024–2025

The Independent Community Bankers of America (ICBA) has announced that Dan Ravenscroft, president and CEO of Royal Bank in Elroy was elected to the ICBA Federal Delegate Board. ICBA is the nation’s voice for community banks. Ravenscroft replaces Tom Reil of Waldo State Bank.

“It’s an honor to be elected to represent the community banking industry and shine a light on the invaluable work community banks across the nation do to strengthen and build more resilient communities,” Ravenscroft said. “I look forward to leveraging my experience as a local community banker to ensure advocacy in Washington reflects the needs of our local economy and community and engaging with my fellow community bankers from across the country to create and promote an environment where community banks flourish.”

In addition to helping shape and advocate ICBA’s national policy positions and programs, Ravenscroft’s duties include engaging in grassroots activities in Wisconsin and serving as a liaison between independent community bankers and ICBA staff and leadership in Washington, D.C. He will also work to recruit new members to ICBA.

ICBA is the only national organization dedicated exclusively to promoting the interests of locally operated community banks and savings institutions. With trusted financial expertise and high-quality customer service as their hallmarks, community banks offer the best financial services option for millions of consumers, small businesses and agricultural enterprises.

“Dan is a respected member of his community and a dedicated advocate for our industry,” said ICBA Chairman Derek B. Williams, president and CEO of Century Bank & Trust in Milledgeville, Ga. “We are fortunate to have Dan serve as a volunteer and contribute his valuable experience and unique perspective for the benefit of our industry, as well as the customers and communities we serve.”

/by
Triangle Background
,

Take Action: Federal Interchange Legislation

By WBA President and CEO Rose Oswald Poels

There is a significant effort underway from the large retailers, merchants, convenience stores, and others to get the Credit Card Competition Act (CCCA) included as an amendment to any other legislation that is moving between now and the end of the calendar year. The banking industry needs to remain diligent and active in voicing our repeated opposition to any inclusion of this language in any other legislation.

Please contact your member of Congress, most importantly our two U.S. Senators, today expressing your strong opposition to any inclusion of the Credit Card Competition Act in other legislation. As Congress debates the “mini-bus” appropriations bill, that is one potential opportunity for this language to be included since this legislation will be acted upon. There will be other similar pieces of legislation that need to move before year-end so we could ask for your grassroots advocacy again as the year progresses.

An easy way to send a message is through both the ABA and ICBA websites. As they have stated in their e-publications, bankers are encouraged to voice strong opposition to renewed efforts by Sen. Roger Marshall (R-Kan.) to force Senate consideration of legislation to advance credit card routing restrictions.

Since our focus right now is on the Senate, you may also send a message through the contact pages on each Senator’s respective websites at the following links:

The substance of your message could include the following text:

“As a Wisconsin banker, I am writing to express my strong opposition to any inclusion of the Credit Card Competition Act (CCCA) in any other legislation including the “mini-bus” appropriations package currently being considered in the Senate. This legislation is anti-consumer and anti-competitive. The CCCA will raise costs on consumers, imperil payment system security, reduce access to important card benefits, and harm financial institutions. This bill is not about making the payment system more competitive, but rather an attempt by the largest retailers, merchants, convenience stores, and others to obtain a subsidy for themselves at the expense of smaller competitors and consumers. These savings will not be passed on to consumers as is evident in the now decade-long experience we have with the Durbin Amendment. Costs have skyrocketed for consumers at these various merchants, while the Federal Reserve found that banks and credit unions with assets under $10 billion are now making do with 25% less per-transaction debit card interchange following the Durbin Amendment. This legislation would double down on the harm already caused by the Durbin Amendment. In fact, a recent GAO report found that the Durbin Amendment was “among the top five laws and regulations most cited… as having significantly affected the cost and availability of basic banking services.”

A credit card transaction is an extension of the bank’s own funds to its customer. Therefore, it’s critical that banks be allowed to carefully and deliberately select the network over which their own funds flow to the merchant. On behalf of my bank and our customers, I ask that you commit to actively opposing any inclusion of the Marshall-Durbin-Gooden-Welch Credit Card Competition Act bill in any other legislation.“

Thank you for taking time to advocate on this critically important issue for the banking industry!

Take Action Through ABA Take Action Through ICBA
/by
,

Executive Letter: Help Shape the Banking Landscape

By Rose Oswald Poels

As the banking industry continues to experience a wave of transformation, it is vital that bankers continue to make their voices heard on matters impacting their communities and their livelihoods. Just this summer, several of the Wisconsin Bankers Association’s (WBA) longtime advocacy initiatives, including tax parity relief and personal property tax repeal, were achieved with the signing of 2023 Wisconsin Acts 19 and 21. Of course, without the support of bankers statewide, the Association’s mission to advocate for our industry would be far less successful.

In addition to the various opportunities offered to WBA’s membership to facilitate conversations and advocate for the industry, fundraising is one of the most important ways in which each of us can leave a lasting impact that meaningfully helps the industry. This year, WBA is striving to raise at least $300,000 in political contributions across our two primary political accounts: Wisbankpac and the Alliance of Bankers Conduit (ABW).

Through the Association’s political action funds, individuals have the ability to pool their personal contributions with that from other bankers for even greater impact and visibility for the industry. As I have long stated, WBA firmly believes in “B for Banker.” So, rather than supporting one side of the aisle or another, our Association supports the elected officials who support our industry.

With so much at stake, and the 2024 elections right around the corner, supporting the well-being and success of the banking industry is not a task we can accomplish alone. Each year, I personally contribute between $4,000 and $5,000 to WBA’s political accounts. I encourage the entirety of the WBA membership to help make a difference. Even small-dollar donations go a long way! WBA staff are also available to give a presentation on our advocacy initiatives virtually or in-person to your staff and/or board of directors. These informative updates help illustrate the legislative environment we work in and detail our priority issues in a length of time that works best for your meeting.

So far, WBA has raised over 60% of our $300,000 goal, and with over three months until the end of the 2023 calendar year, we are on our way to meeting our monumental goal for the first time in five years! Help us invest in the future prosperity of Wisconsin’s banking industry by joining the Silver Triangle Club, the Leadership Circle, or the Hall of Fame. Banks should also strive to achieve Gold Triangle Club recognition.

Thank you to those who have already contributed so far this year to help WBA reach its political goals for our industry. Without your support, WBA is not as effective as we need to be to achieve our priorities. 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.

/by
Triangle Background
,

Advocacy Update: A Historic Win for Banks in Wisconsin

Updates from the 2023–2025 state budget

By Lorenzo Cruz

As the summer of 2023 comes to a close, the Wisconsin Bankers Association (WBA) is pleased to help usher in a number of historic changes for banks across the state. In July, Governor Tony Evers approved Senate Bill 70 as 2023 Wisconsin Act 19 and established Wisconsin’s 2023–2025 budget. As the Association has previously reported, budget negotiations — which included a massive $6.6 billion surplus — have been ongoing for several months. Undoubtedly, the passion demonstrated in the last several decades by banking advocates has led us to this moment. Thank you to those who have committed their time and efforts to ensuring the banking industry remains relevant and thriving for years to come!

The following recaps business-related provisions from Act 19:

  • Tax-Exemption for Small Business and Ag Purpose Loans

Act 19 creates a new, historic tax-exemption for banks related to certain business and agricultural lending. Learn more about the new tax-exemption here.

  • Largest Investments of $525 Million in Workforce Housing in Wisconsin History

Act 19 provides one-time funding for several new Wisconsin Housing & Economic Development Authority (WHEDA) programs.

  • Increased Shared Revenue for Municipalities

Act 19 added aid for municipalities for fiscal year 2024–2025 and represents a 36% increase over current county and municipal aid entitlements.

  • Income Tax Reduction for Two Lowest Tax Brackets

Act 19 reduced income tax for the lowest two individual brackets leaving more than $3 billion in the general fund for more income tax cuts or spending.

  • Increase in Retailer Vendor Compensation

Act 19 revises section 77.61(4)(c) and increases vendor compensation for retailers. The WBA Government Relations team will continue to monitor this development but are hopeful the vendor compensation increase will reduce an interest in a state credit card interchange fee bill.

  • Creates Sales and Use Tax for Equipment or Software Used at Qualified Data Center

Act 19 creates a sales and use tax exemption for equipment or software used for the processing, storage, retrieval, or communication of data at a qualified data center, as certified by the Wisconsin Economic Development Corporation (WEDC).

Personal Property Tax Repealed

Another significant change in tax policy occurred on the personal property front. For several decades, the business community has been working on legislation to eliminate completely the personal property taxes in Wisconsin. Many states have eliminated the personal property tax and Wisconsin was becoming an outlier in that area. WBA was a member of the Coalition to Repeal Wisconsin’s Personal Property Tax which successfully advocated for a legislative solution that fully repealed the personal property tax effective January 2024 in the 2023 Wisconsin Act 21, which was signed by Governor Evers on June 20. The repeal of the personal property tax eliminates an outdated administratively burdensome requirement and saves the business community nearly $200 million annually.

Upcoming Priorities

With the state budget behind us, the WBA Government Relations team will shift the focus towards fall/spring floor periods and political fundraising/ grassroots efforts. Despite the huge tax parity victory in the state budget — which was a top priority for WBA — the team is now working on other priorities that include, but are not limited to, financial institutions modernization reform, elder fraud, taxes, privacy, trust code updates, and credit card swipe fees.

/by
,

Executive Letter: Promoting Financial Literacy and Capability in Wisconsin

Rose Oswald PoelsBy Rose Oswald Poels

Across the state, bankers make remarkable efforts every day to assist their neighbors in building a solid financial future. Promoting financial capability is a long-standing tradition throughout the banking industry, and every year, hundreds of WBA members take part in various financial education-related events to bring awareness and useful resources to Wisconsinites of all ages. Although many bankers do not seek accolades for their achievements, there are important reasons for sharing your efforts with WBA.

The Wisconsin Bankers Foundation (WBF) annually collects two summary forms (individual and bank-wide) through which WBA-member banks share their efforts in improving financial literacy and capability throughout Wisconsin. The information gathered through the Foundation’s website is then utilized by WBA and WBF staff to inform our elected officials and members of our communities of the collective efforts put forth by banks in the state. Additionally, the Foundation staff utilizes these forms to recognize those who go above and beyond in their work during an award ceremony held at WBA’s FLEX: Retail & Marketing Summit (formerly known as the LEAD360 Conference) in the fall.

The 2022–2023 WBF Financial Education Summary Forms recognize the achievements of both banks and their individual team members for their financial education presentations and activities from June 1, 2022 through May 31, 2023. These activities often include volunteer hours with Junior Achievement, Teach Children to Save presentations, and seminars that assist community members in managing or understanding their personal finances.

Individual bankers who volunteer their time and expertise during a presentation, visit, or other financial literacy-focused event should complete the ‘Individual Summary Form.’ Submissions of this form are compiled to highlight the number of presenters and participants, as well as the financial literacy topics covered, each fiscal year. Based on the number of presentations, bankers may also be selected to receive the Financial Literacy Banker of the Year Award, Financial Literacy Banker Award, or a certificate of excellence or recognition.

The bank-wide form is intended to capture information related to the bank’s financial education initiatives. Based on the level of a bank’s total activity, member banks may earn the Excellence in Financial Education Award, presented at the award ceremony at the FLEX Summit.

The Foundation’s prestigious Financial Education Innovation Award is also awarded to one bank that demonstrates in the summary form a creative, far-reaching financial education initiative or program. A separate ceremony honoring the Financial Education Innovation Award is held during the WBA’s annual Bank Executives Conference in February.

By documenting your bank’s efforts in financial literacy, you are helping our team enhance the story and underscore the value of the banking industry by:

  • spotlighting the outstanding efforts of bankers in Wisconsin to increase the financial literacy and capability of their community members,
  • celebrating financial education and the achievements of hundreds of bankers, and
  • providing insight to Foundation staff on topics, tools, and demographics that can be incorporated into future resources.

Thank you to the bankers who continually commit hours of their time and efforts to improving the financial capability of individuals and communities throughout Wisconsin. The Foundation is pleased to recognize and celebrate the outstanding, and often creative, efforts of the WBA membership. I encourage all members — even those who do not seek recognition — to please submit the two forms located on the Foundation’s website by Monday, July 31.

Submit Now
/by
, , , ,

Chair’s Column: Be the Inspiration for the Future of Our Industry

By Donna J. Hoppenjan

Throughout my 46 years in banking, one thing has remained absolutely certain — the dedication of bankers in Wisconsin. For over 130 years, the Wisconsin Bankers Association (WBA) has stood as the pillar for banking throughout the state. From educational and advocacy opportunities to resources for members to utilize, our Association remains top tier in its ability to provide bankers in Wisconsin with a wide variety of ways in which they can get involved and make a difference in their bank and throughout their community.

As I begin my term as chair of WBA’s Board of Directors — representing over 30,000 bankers throughout Wisconsin — I look forward to continuing the Association’s longstanding tradition of inspiring success within our industry and encouraging every member to consider their role in shaping the future.

The inspiration to expand your skillset, grow your connections, and engage with your community is around every corner. In partnership with WBA, member banks have the ability to take advantage of educational programs designed to assist all bank employees in their pursuit of knowledge and expertise. Our Association hosts a variety of in-person and virtual courses that are not only relevant to bankers in our state, but also facilitate connections with their peers.

At its core, the Association is rooted in engagement. Without the participation of over 150 volunteer Advocacy Officers, committee participants, and advisory board members, WBA would be nowhere near as relevant or impactful as it is today. However, just as the WBA membership plays a role in shaping our Association, each of us has the responsibility to prepare our next generation of banking leaders and shape the perception of our industry.

Through WBA, bankers can participate in events or any combination of peer groups, networks, and committees to enhance their leadership skills and be inspired by the efforts of their peers. WBA also spearheads initiatives such as Power of Community Week, Teach Children to Save Day, Capitol Day, and career nights at various schools that encourage bankers to step out of the office and into their communities. The events offer members opportunities to establish and foster relationships with students, business owners, nonprofit organizations, elected officials, and so many others.

This year, as your team considers the multitude of ways in which you can inspire your fellow bankers, encourage the next generation, and influence growth throughout the industry, I remind you to look to your Association and stand united. Together, we can continue to support the long-term growth of the banking industry and elevate our Association for years to come.

Hoppenjan is president and CEO of Mound City Bank, Platteville, and the 2023–2024 WBA Chair.

/by
Triangle Background
, ,

Executive Letter: Governor Supports Business Investment With Bank Budget Provision

Rose Oswald PoelsBy Rose Oswald Poels

On July 5, Governor Tony Evers signed the 2023–2025 state budget and supported a historic tax law change approved by the state Legislature that builds on the state’s success in attracting and investing in Wisconsin businesses. Beginning this year, the new law will promote further economic development by providing banks with an income tax exclusion on income earned from commercial loans for business or agricultural purposes of $5 million or less where the borrower resides or is located in the state of Wisconsin.

Meetings with key legislators and bankers began last summer and continued throughout the year. WBA staff also regularly met with key people in the Governor’s office.

Ultimately, this historic tax law change directly supports economic development as Wisconsin banks continue to work with their Main Street small businesses and farmers. WBA wishes to thank Governor Evers and his Administration, Senate Majority Leader Devin LeMahieu, Speaker Robin Vos, Joint Finance Committee Co-Chairs Sen. Howard Marklein and Rep. Mark Born, and all Joint Finance Committee members, including Rep. Terry Katsma and Sens. Mary Felzkowski and Pat Testin, for their collective leadership in support of Wisconsin’s banking industry. Additionally, WBA wishes to thank the many Wisconsin business and agricultural groups that sent messages of support into the Governor’s office on the bank budget provision.

/by
Triangle Background
,

Wisconsin Bankers Association Statement on the State Budget

By WBA President and CEO Rose Oswald Poels

In signing the state budget today, Governor Tony Evers supported a historic tax law change approved by the state Legislature that builds on the state’s success in attracting and investing in Wisconsin businesses. Beginning this year, the new law will promote further economic development by providing banks with an income tax exclusion on income earned from commercial loans for business or agricultural purposes of $5 million or less where the borrower resides, or is located, in the state of Wisconsin. 

Ultimately, this state tax law change directly supports economic growth as Wisconsin banks continue to work with their Main Street small businesses and farmers. The Wisconsin Bankers Association wishes to thank Governor Evers and his Administration, Senate Majority Leader Devin LeMahieu, Speaker Robin Vos, Joint Finance Committee Co-Chairs Sen. Howard Marklein and Rep. Mark Born, and all Joint Finance Committee members, including Rep. Terry Katsma and Sens. Mary Felzkowski and Pat Testin, for their collective leadership in support of Wisconsin’s banking industry.    

/by
WBA logo

questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

Get our Newsletter!
Subscribe