Tag Archive for: Advocacy

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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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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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Executive Letter: The Critical Impact of Fundraising

By Rose Oswald Poels

It is not hyperbole to say that advocacy is at the heart of the Wisconsin Bankers Association (WBA). The work WBA does to support pro-banking and pro-business officials and invest in the future success of banking industry is vital to our mission and is the pulse propelling us forward.

That work includes monitoring and introducing legislation, engaging with legislators, testifying on bills, organizing “Take Your Legislator to Work Days,” and hosting our annual Capital Day, and is done in support of banks and communities throughout our state. That work requires the dedicated participation of both WBA lobbyists and members and is fueled by essential fundraising.

In mid-June, more than 40 bankers participated in the 2024 Kohler Outing benefiting WBA’s issue advocacy program. Attendees had the choice of golfing at the Irish Course of Whistling Straights or shooting at the River Wildlife Tactical Pistol & Rifle Course. It was a pleasure to gather with bankers in beautiful Kohler, and I’m grateful that participants donated nearly $100,000 in corporate support of the Association’s issue advocacy efforts.

I am fortunate that in addition to the passionate and generous community of bankers and Associate Members, WBA staff is also committed to promoting a healthy environment for banks in Wisconsin.

Pictured (left to right): WBA VP Government Relations Lorenzo Cruz, American National Bank Board Chair Dennis Long, WBA Vice Chair and President & CEO American National Bank – Fox Cities Paul Northway, and Senior Vice President at BOK Financial, Josh Hunt.

Pictured (left to right): WBA Past Chair and President and CEO of Mound City Bank Donna Hoppenjan, WBA President and CEO Rose Oswald Poels, Premier Community Bank SVP – Retail Operations Robin Christian, WBA Board Member and President/CEO of Fortifi Bank Greg Lundberg, and Emily Lundberg.

 

 

 

 

 

 

 

 

 

 

 

 

 

Last month WBA hosted its annual fundraiser in support of Wisbankpac and the Alliance of Bankers for Wisconsin (ABW). The event welcomed voluntary staff donations through specified personal contributions.

The “WBA Brewers Tailgate Summer Classic” fundraiser included a lunchtime cookout in the WBA parking lot with Lorenzo Cruz and Tyler Foti from the Government Relations team handling the grilling of brats, burgers, and hotdogs.

WBA staff collectively raised over $12,550 — far exceeding the Association’s goal of $7,000! This impressive result underscores the staff’s commitment to advocacy. I am proud to note that the combined donations from staff make WBA the top contributing organization at this time.

Scenes from the WBA Brewers Tailgate Summer Classic fundraiser.

As we are at the halfway point in this calendar year, I encourage WBA-member banks to continue (or begin) their own political fundraising initiatives in support of our industry. WBA has two programs for recognizing both the political contributions which are vital to the future of our industry and the impactful grassroots advocacy of members: WBA’s Gold Triangle or Bankers Involved in Grassroots and Government (BIGG) Award.

The Gold Triangle Club, the highest level of fundraising recognition for banks, is awarded annually through personal contributions to ABW political conduit, Wisbankpac, or corporate contributions to WBA’s issue advocacy fund. All contributions count toward Gold Triangle status, and the amount to qualify ranges from $500 to $4,500 based on the size of the bank. WBA’s BIGG Award expands beyond Gold Triangle fundraising to encompass grassroots advocacy engagement and serves as the Association’s highest level of recognition for overall advocacy. Check to make sure your bank is on track for this recognition.

Because today’s political climate has become increasingly polarized, it is key to emphasize that the funds raised are used to help support pro-banking political candidates that are not “D” or “R”, but rather “B” for the “Banking” Party.

I am confident that much like WBA staff exceeding the Association’s own fundraising goal for this year, our larger goal of raising $300,000 for the year will be surpassed because members like you recognize that keeping our Association’s political contributions on track is a team effort! If every bank collected just $3,000 in total personal contributions from their staff and board, we would far surpass our goal.

Thanks to all of you who continue to aid the Association in our work advocating for a healthy climate for banks in Wisconsin. If you are curious about the diverse ways your bank can get involved, please do not hesitate to reach out to me, Vice President – Government Relations Lorenzo Cruz, or Director – Government Relations Tyler Foti.

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Association Update: Impactful Opportunities Abound

By Daryll Lund

The start of the Wisconsin Bankers Association’s (WBA) new fiscal year presents an ideal moment to spotlight the abundant opportunities available for both new and seasoned bankers to advance their professional development and build meaningful industry connections. Representing over 30,000 individual bankers, our Association thrives on their energy and desire to learn. Members’ insights, creativity, and expertise propel WBA to advance our mission
of advocacy and education.

On June 5, 2024, Al Araque, senior vice president and director of consumer, private, and business banking at Johnson Financial Group in Racine, was installed as Chair of WBA’s Board of Directors. During the ceremony, he emphasized his priority of amplifying the Association’s impact and encouraged bankers to seize the opportunities WBA offers.

WBA’s commitment to professional development is unwavering, evidenced by our top-notch programs and resources. For over 130 years, we have facilitated connections between bankers and experts on a wide array of banking-related subjects while also fostering peer relationships. We offer 80 in-person conferences, schools, and events across Wisconsin, alongside numerous convenient virtual options.

One of the standout opportunities for current and emerging leaders is the Building Our Leaders of Tomorrow (BOLT) program. Now in its 11th year, BOLT ensures the continued success of community banks by emphasizing talent development. Thousands of bankers have been equipped with tools to connect, learn, and advocate for their industry through BOLT. Participants in the BOLT program can, in turn, shape the next generation of leaders.

The WBA Advocacy Officer program is another essential leadership opportunity. Advocacy Officers coordinate regulatory, legislative, and community advocacy efforts for their banks in collaboration with WBA. They work with fellow bankers, WBA staff, and representatives at local, state, and federal levels, as well as other state and national trade groups. By sharing stories of how legislative issues impact their professions and communities, Advocacy Officers play a crucial role in influencing change.

Our Employee Resource Group (ERG) aims to connect all members, especially those from historically underrepresented groups. This virtual forum offers a safe space for bankers to converse, share experiences, ask questions, and learn from one another. We are pleased to have Beth Ridley, CEO and founder of Ridley Consulting Group, moderating the group in 2024.

Another invaluable resource is WBA Connect, a collection of peer networks. These groups, covering topics from human resources to commercial lending, provide a banker-only peer community where members share challenges, wins, ideas, and inquiries specific to their roles.

Whether through participation in training and educational programs or volunteer opportunities, your active involvement in WBA helps amplify the positive impact member banks have in their communities and our industry.

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WBA Staff Advocacy Fundraiser Yields Over $12.5K

In June, WBA hosted its annual fundraiser in support of Wisbankpac and the Alliance of Bankers for Wisconsin (ABW). The event welcomed voluntary staff donations by way of a specified contribution from payroll, a check made out to one of the funds, or the purchase of one or more ‘Jeans Day’ stickers for a casual dress day at the office. All money raised directly supports WBA’s pro-banking and pro-business advocacy efforts.

The “WBA Brewers Tailgate Summer Classic” fundraiser included a lunchtime cookout in the WBA parking lot with Lorenzo Cruz and Tyler Foti from the Government Relations team handling the grilling of brats, burgers, and hotdogs.

WBA staff also got competitive in a series of fun games. Winners were:
• Bags toss – Daryll Lund
• Pitching – Daryll Lund
• Whiffle Ball Home Run Derby – Cassie Krause

After the tailgate staff members were able to check out the Brewers game on TV in a meeting room.

WBA President and CEO Rose Oswald Poels commented, “I’m very proud and honored that the WBA staff is clearly committed to the banking industry’s advocacy, alongside the membership.” Oswald Poels added, “In fact, the combined donations of staff make WBA the top contributing organization thus far in 2024.”

“It’s clear that no matter what staff members’ own political leanings are, they recognize what is crucial about WBA’s advocacy efforts is that the effort supports the industry we all work in, and, importantly, the funds raised are used to help support pro-banking political candidates that are not “D” or “R”, but “B” for the “Banking” Party, said Oswald Poels.

This year, WBA staff collectively raised over $12,550 — far exceeding the Association’s goal of $7,000!

Support WBA Advocacy.

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Farm Bill Advocacy

During both Wisconsin Bankers Association (WBA) Washington, D.C. trips this past spring, the Farm Bill was discussed as part of our policy agenda with our congressional delegation, including, notably Rep. Van Orden’s office since he is on the House Agriculture Committee. At the time, we shared that we were in support of the Farm Bill passing as most of the provisions are favorable; however, we did share concerns regarding potential language that would broaden Farm Credit’s authority. The legislation was not introduced until May 21 and at that time, WBA repeated its ongoing concerns with Farm Credit related provisions in the bill to Rep. Van Orden’s office ahead of its vote in the House Agriculture Committee. Very late Friday night, the bill (H.R. 8467) passed out of committee on a 33-21 bipartisan vote so it will now move to the House floor for consideration. It is anticipated that the House may not take up the floor vote until this Fall.

The Farm Bill as passed out of Committee contains largely positive provisions that WBA and the industry would support for the ag and banking sectors. However, it also includes provisions that WBA and the industry objected to around a broadening of Farm Credit’s powers and its compliance with current CFPB Section 1071 requirements. For example, the Farm Bill would move enforcement of Section 1071 from CFPB to the Farm Credit Administration and appears to only require collection of 3 data points – race, sex or ethnicity, provisions not extended to the rest of the banking industry. WBA will continue its advocacy against these provisions, including during our in-district meetings in August with the delegation, and encourages bankers to do the same with your respective member of the House. Again, it is anticipated that the House may not take up the bill for a floor vote until the Fall, and then it will move to the Senate where at least some of these expanded Farm Credit-related provisions are not expected to be supported. WBA will continue to keep the membership updated as actions occur on this important must-pass legislation.

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Community Advocate Spotlight: Jeff Johnson, First National Bank of River Falls

Jeff Johnson

The following is a brief interview between WBA President and CEO Rose Oswald Poels and First National Bank of River Falls President and CEO Jeff Johnson.

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

Jeff: After graduating from UW–Whitewater in 1987, I landed my first “real job” as a bank examiner with the Federal Deposit Insurance Corporation (FDIC) in Milwaukee. As you might imagine, it was quite an education for a 22 year old, as the savings and loan crisis was at its peak. The FDIC hired hundreds of new college graduates throughout the country in the late 80s, and we were thrown right into the fire despite the fact that most of us really had little education in our industry.

Our office traveled quite a bit, and we spent a great deal of time in New England, New York City, and the southwest part of the country. In my mind, there is no better opportunity for someone to learn about banking than to take a job out of college as a regulator.

After seven years with the FDIC, I decided that I had enough of the travel, and ended up taking a position as a lender at PremierBank in Fort Atkinson. I spent most of the next 15 years in the Fort Atkinson/Jefferson area, before my family and I came up to River Falls in 2009 to take the CEO job at First National. Throughout my career I have worked in a variety of areas, including lending, human resources, and bond portfolio management.

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

Like everyone who is reading this, I am a huge fan of the community banking model. Having the ability to quickly and efficiently help customers with their financial needs is so very important, and community banks do a better job of that than anyone. I’m certainly biased from working in community banks for the last three decades, but the ability to make local decisions is a huge differentiator, and it sets us apart from many of the
larger banks.

Also, I am so grateful that our bank ownership group, the Smith family, allows us to make such a positive impact throughout our communities. In addition to significant financial gifts, our staff regularly donates over 3,000 hours of their personal time to support local causes that they are passionate about. Banks are only as strong as their communities, thus it is our responsibility to give back as much as we are able. I am blessed to work alongside such a fantastic group of teammates that share the same desire to give back to others. I wouldn’t trade them for anyone!

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

That we are not all the same. There is a big difference between community banks, large mega-banks, and credit unions. Of the three, we (community banks) are much more reliant on the success of our customers and the communities that we serve. And like I said earlier, nobody provides more efficient customer service than community banks. Also, I am constantly astounded by the fact that the vast majority of people have no idea that credit unions are tax-exempt. I can’t tell you how many conversations I have had with people over the years about this subject, and it is rare when I come across an individual that is aware of this advantage that credit unions have over others. I’m not sure it will happen in my lifetime, but I remain hopeful that someday we will all be able to play on an equal playing field.

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

Short term, our biggest challenge as an industry will be treading water until rates start to decline. The housing market has grounded to a complete standstill due in large part to high rates, and community banks like us typically rely on this area to provide significant revenue.

Long term, it will be really important for us to promote the fact that community banking is a great place to build a career. Where else do you have the opportunity to help others with their financial needs, build relationships with teammates, and give back to your community? We have so many different career paths — lending, finance, accounting, customer service, marketing, IT, human resources, and many others. There are a large number of current bankers in the 55–65-year-old range and nearing retirement and finding talented individuals to provide succession will be a big challenge for all of us.

Please describe your current role at your bank and share with us one of your more rewarding experiences.

After nearly 37 years in our industry, there are so many things that come to mind. People that I have worked with, non-profits that we have helped through financial support or volunteerism, bank scholarship recipients, the businesses we helped out with the Paycheck Protection Program (PPP) program, etc.

About two years ago, I received a call from a former customer in Fort Atkinson who I helped purchase an insurance business over 30 years ago. I hadn’t talked to him since we moved to River Falls 15 years ago. He was getting ready to retire and was closing on the sale of his business later that day. He called to thank me for taking a chance on him many years ago when nobody else would. He said without that help, he wouldn’t be in the position that he is today. Aside from being humbled by his call, it caused me to pause and reflect on the tremendous impact that we all have within our local communities. That’s something that we can’t ever put a price tag on, and it’s the reason why many of us choose to devote our lives to this great industry.

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