Tag Archive for: Advocacy

Posts

, ,

Community Advocate Spotlight: Eric Glewen, Oostburg State Bank

Eric Glewen

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Oostburg State Bank President and CEO Eric Glewen.

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

Eric: After graduating from Marquette University in 1990 with a Finance degree, I started my banking career with United Savings & Loan in Sheboygan. My first job in banking was to design and implement a Retail Indirect Lending Program for the institution. It didn’t take off overnight but a year and a half later we had it rolling pretty good. When Valley Bank purchased United Savings & Loan, I had the opportunity to move over to the commercial side of banking and worked as a credit analyst for two years, also gaining some exposure to treasury management during this time. This was a great learning opportunity for me and helped position me to be a business lender when M&I purchased Valley Bank.

I spent the next eight years working as a business banker for M&I in Sheboygan and Manitowoc. At that point in my career, I was offered an opportunity out of the blue to join Oostburg State Bank as their vice president of business banking. I took over as president in 2019 and have been with Oostburg State Bank now for over 21 years.

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

All of it, I love the community banking model! Helping people and serving the community are at the core of community banking. I am privileged to work with a group of talented, committed, and passionate community bankers here who care about doing great work that makes a difference for our clients and the greater community we serve. If our communities thrive, we thrive. Serving others and strengthening our communities, that’s what I enjoy and that’s what I work for.

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

When it comes to mission and values, financial institutions are not all created equal. Many financial institutions will ultimately measure their effectiveness in terms of their asset size or perhaps their quarterly performance. We at Oostburg State Bank — and other true community banks — tend to have a little longer perspective, preferring to judge our success by the strength of our communities and quantity of banking relationships that last for decades and span generations. Customers most often pursue long-term banking relationships with someone they can trust and depend upon. We make it our mission to preserve the local community banking experience. Our team — as well as teams from other community banks across this great state — work diligently to meet the needs of our customers and our communities. In so doing, they exemplify what it truly means to be community bankers.

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

There’s certainly no shortage of great challenges that community banks face and the one thing they have in common is that they all possess the potential to threaten our continuation of business. Second only to employees, deposits are a community bank’s lifeblood. The ongoing assault on deposits perhaps causes me to lose sleep the most often.

The combined effect of credit unions, FinTechs, cryptocurrency, regulatory, and other competitive forces, not to mention the big one — the prospect of a central bank digital currency — will not only continue to erode community bank’s deposits, but in the worst case, threaten the viability of our business model. It’s no time to relax in our advocacy efforts through the Wisconsin Bankers Association and Independent Community Bankers of America to preserve the precious community bank model.

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

Oostburg State Bank is a pillar of community support and investment. It was this way long before I became president and I’m confident it will be that way far into the future. Just recently, we were presented the opportunity to partner with the Cedar Grove-Belgium School District. Their indoor pool had served Cedar Grove, Belgium, Oostburg, and the surrounding communities for over 50 years and the pool needed some serious work. I grew up in Cedar Grove and as a kid I spent just about every summer afternoon at that pool. When I was in high school, one of my first jobs was lifeguarding at the pool. After a substantial renovation, today, the Oostburg State Bank Community Aquatics Center in Cedar Grove once again stands ready to serve the greater community for the next 50 plus years.

/by
Street view of Wisconsin State Capitol building
, ,

Executive Letter: Taking the Lead on Advocacy

By Rose Oswald Poels

Last month, over 200 bankers from across Wisconsin convened in Madison for the Wisconsin Bankers Association’s annual Capitol Day. This turnout — the largest in WBA’s advocacy history — attests to our members’ ongoing commitment to speak up on behalf of our industry and advocate for legislation that helps our customers and communities. Many bankers participate throughout the year in making calls, sending letters, and personally contributing to the industry’s political action funds, and your physical presence at events such as Capitol Day plays a crucial role in reinforcing the collective voice of Wisconsin’s banking industry.

The last biennium has resulted in several advocacy accomplishments that would not have been possible without the active participation of WBA-member bankers and the support of elected officials on both sides of the aisle. As we switch gears to what is to come in 2024, including the U.S. election later this year, we must be proactive in maintaining our current success. Recently, each member bank was mailed the annual Advocacy Toolkit. If it has not already arrived, please keep an eye out for it in the coming days. The Toolkit features several resources including best practices, how to identify and contact local legislators, as well as all the ways your bank can choose to assist the Association in our political fundraising efforts.

Although fundraising is not the most endearing aspect of advocacy, it is certainly one of the most important. Monetary support helps the WBA team effectively lobby for key issues impacting the industry and our communities. For this calendar year, WBA hopes to raise at least $300,000 in personal contributions to support the Association’s advocacy efforts. Through the Alliance of Bankers for Wisconsin (ABW) political conduit or Wisbankpac, bankers are able to donate directly to the candidate(s) of their choosing or pool their contributions with other individual bankers to maximize the overall impact in the political process, respectively.

While bankers are welcome and encouraged to join WBA’s Leadership Circle, awarded to those who contribute at least $3,000 to any combination of the ABW or Wisbankpac, it is important to emphasize that even small-dollar contributions help make a big difference. By donating at the Silver Triangle level (at least $1,000), you join a network of dedicated supporters who play a vital role in bolstering the advocacy initiatives that support elected officials who support the banking industry.

If you have any questions regarding political fundraising or would like to learn more about which donation level is right for you, please do not hesitate to reach out to Lorenzo Cruz, WBA vice president – government relations, or me. With so much in store for the upcoming legislative session, I truly appreciate the members who go out of their way to join WBA in our advocacy efforts on behalf of the banking industry.

View the Digital Advocacy Toolkit Support Our Industry
/by
, , ,

Governor Evers Signs Over 50 Bills Into Law

March 21, 2024, was a busy day in Madison with Governor Tony Evers signing over 50 bills into law, including the following list in order of Act numbers. A full list of the bills signed into law yesterday may be found at: https://www.wsaw.com/2024/03/21/gov-evers-takes-action-over-50-senate-assembly-bills/

Note: Regarding SB 616 (now Act 146), the Department of Revenue has posted an updated form instructions and Common Questions to their website.

Senate Bill 759, now 2023 Wisconsin Act 127: 

  • Makes several changes related to trusts, including administration, adopting the Uniform Powers of Appointment Act, adopting the Uniform Trust Decanting Act, and creating an exception under the general marital property law allowing digital property to be classified as individual property if certain criteria are met. 

Senate Bill 773, now 2023 Wisconsin Act 128: 

  • Repeals the requirement that financial institutions provide advance notice to the Wisconsin Department of Financial Institutions (DFI) before the acquisition, placement, or operation of off-site ATMs. 
  • Makes it a Class H felony to intentionally cause impairment or interruption to any ATM or customer bank communications terminal. 
  • Expands the authority of credit unions to purchase, lease, hold, and convey certain real estate, subject to guidance from the Office of Credit Unions. 
  • Allows credit unions to issue or offer supplemental forms of capital, in the form and with the conditions specified by DFI. All applications for supplemental capital would have to be approved by DFI in writing and obtained before the issuance of the supplemental capital. 
  • Requires the board of a credit union to fill a vacancy on its board of directors within 90 days of the position becoming vacant, no matter the cause. 
  • Extends, from 30 days to 60 days, the time during which the Office of Credit Unions must determine whether an activity or power that becomes authorized for federally chartered credit unions should also be authorized for Wisconsin-chartered credit unions. 
  • Extends the time credit unions have to pay for their required examinations to 30 days after the completion of the examination. 
  • Removes the restriction on savings and loan associations that require all the loans they provide to be within a 100-mile radius of their office. 
  • Eliminates disclosure requirements that require lenders to notify a residential mortgage borrower in writing of: (a) the reason(s) for an adverse action on an application (unless a notice as required under federal law is delivered); (b) whether an application fee is refundable; (c) whether the interest rate and other terms of the agreement may change before the closing date; and (d) if the loan servicing for the residential mortgage is sold. 
  • Repeals certain disclosures required of lenders related to variable rate loans, including disclosure of the index used and its current base and the rights of a borrower concerning a change in the interest rate. 
  • Extends the maximum maturity date of a promissory note issued by a municipality, county, or school district from 10 years to 20 years. 
  • Increases, from $400,000 to $1,000,000, the maximum amount of compensation DFI can provide to the state or any local government in this state for losses resulting from the deposit of public money in a failed financial institution. 

Senate Bill 626, now 2023 Wisconsin Act 129: 

  • Allows for a notary public to notarize the creation and execution of a limited financial power of attorney for a real estate transaction for a remotely located individual. 

Senate Bill 898, now 2023 Wisconsin Act 130: 

  • Creates a procedure for estate planning documents to be notarized and/or witnessed remotely. 
  • Modifies the requirements and procedure for executing certain estate planning documents. 

Assembly Bill 574, now 2023 Wisconsin Act 131: 

  • Creates a regulatory framework for earned wage access service providers, regardless of whether they are physically located in Wisconsin. 
  • Requires these companies to be licensed by DFI. 
  • Establishes requirements for providers of earned wage access services to Wisconsin residents to protect consumers. 

Senate Bill 628, now 2023 Wisconsin Act 132: 

  • Defines a “vulnerable adult” as an adult who is at least 65 years of age or who has a physical or mental condition that substantially impairs their ability to care for their needs. 
  • Defines “financial service providers” to broadly include many financial institutions, including banks, savings and loan associations, credit unions, mortgage brokers, insurance companies, and check cashing services. 
  • Allows financial service providers to:
    • Create a list of persons the vulnerable adult authorizes to be contacted if financial exploitation is suspected.
    • Notify certain individuals about the suspected financial exploitation, including the adult’s spouse or adult child; any co-owner, signatory, or beneficiary of the vulnerable adult’s account; and any person on the vulnerable adult’s list of authorized contacts on their account. 

Senate Bill 485, now 2023 Wisconsin Act 133: 

  • Expands the crime of robbery of a financial institution to include creating circumstances that would cause a reasonable person to believe that the use of force was imminent, making it a Class C felony. 

Assembly Bill 742, now 2023 Wisconsin Act 138: 

  • Makes various technical changes to statutes related to the Wisconsin Department of Revenue (DOR) to remove obsolete provisions, eliminate certain ties to dates in the past, and reflect changes in technology. 
  • Removes the requirement that a property assessment change made by a board of review be made using red ink on the assessment roll and instead requires the clerk to enter the board’s new valuation and a note about the change from the assessor’s valuation into the assessment roll. 
  • Repeals the requirement that a sales tax exemption certificate issued by DOR be presented to claim the sales tax exemption for insulin, patient health care records, and farm-raised fish.
  • Incorporates several technical changes to the Wisconsin Uniform Unclaimed Property Act. 
  • Updates certain references to, and incorporates definitions from, the Internal Revenue Code to claim the married persons tax credit. 
  • Repeals a lottery prize provision that applied to prizes awarded on or before Oct. 21, 1998, and would modify the requirement that lottery drawings must be videotaped and audiotaped to allow for digital video recordings to satisfy this requirement. 
  • Repeals a provision that requires a local board of review to compel the attendance of witnesses at the request of the person objecting to their property tax assessment. This provision was ruled unconstitutional in Metropolitan Associates v. City of Milwaukee in 2011. 
  • Removes obsolete tax deductions, credits, and exemptions for certain internet equipment purchased before July 1, 2009. 
  • Repeals obsolete references to tax incremental financing districts that are closed. These provisions would take effect on January 1 after publication of the act. 

Senate Bill 616, now 2023 Wisconsin Act 146: 

  • Creates a sales tax exemption for the sale, storage, and use of portable machinery and equipment used for roads and commercial lot construction and resurfacing. 
  • Extends the capital gains exclusion to family members who inherit certain farms organized as a partnership or limited liability company. 
  • Allows the state lottery to engage in 50/50 games by clarifying the lottery would be exempt from posting estimated prize payouts and odds when the price or odds of winning are dependent on the number of participants. 
  • Shortens the time period in which a person can claim a winning ticket for the lottery share of a secondary or subsequent chance lottery drawing when the prizes are one-time events, such as trips or concerts. Wisconsin residents are currently excluded from these games. 
  • Increases the withholding threshold for employers of nonresidents from $1,500 to $2,000 to match the income tax filing threshold for nonresidents. 
  • Allows the department to extend the due date for Wisconsin qualified opportunity fund to file a Form WQOF. 
  • Extends the maximum number of years someone can serve as an appointed board member of a local exposition district from six years to nine years. 
  • Makes technical modifications to certain provisions related to 2023 Wisconsin Act 73. 
  • Makes technical clarification to the income and franchise tax exemption created in 2023 Wisconsin Act 19. 
  • Provides DOR position authority. 

Assembly Bill 793, now 2023 Wisconsin Act 148: 

  • Makes modifications to the individual income tax treatment for contributions to and withdrawals from section 529 college savings accounts (529 accounts) and the employee college savings account contribution credit. 
  • Increases the maximum amount that can be deducted from contributions to a 529 account to $5,000 for most filers and $2,500 for married-separate filers. 
  • Requires the use of a first-in, first-out accounting method for determining which withdrawals would be added to adjusted gross income and would restrict the use of carryover contributions in excess of the maximum deduction threshold if the carryover amount was withdrawn within 365 days of being first contributed. 
  • Links the definition of “qualified higher education expense” to federal law, which has been expanded to include expenses for apprenticeship programs and qualified education loan repayments. 
  • Modifies the tax credit that employers may claim for contributions to employees’ 529 plans by increasing the maximum amount to the greater of 50 percent of the contribution or $800, adjusted annually for inflation. 
/by
, ,

WBA Advocacy Efforts Assist in Receiving Temporary FCC Waiver for Banks

Under Federal Communication Commission (FCC) rules, recipients of either the CAF Phase II Auction or the Rural Digital Opportunity Fund Auction (collectively, auction support recipients) had to obtain an irrevocable standby letter of credit (LOC) issued by a qualified bank. To be considered a “qualified bank,” FCC has several eligibility rules, including that the issuing bank must maintain a Weiss Safety Rating of at least a B-.

According to the Weiss Rating website, its Bank Safety Rating is “based on a complex analysis of hundreds of factors that are synthesized into five indexes: capitalization, asset quality, profitability, liquidity, and stability.”

After obtaining LOCs from qualified banks, several auction support recipients have had their respective bank’s Weiss safety ratings fall below B-. In such situation, FCC rules require that the carrier obtain a new LOC from a different bank with a sufficient Weiss safety rating. Until the carrier obtains a new LOC, its support is withheld.

Last month, WBA submitted a letter requesting FCC eliminate its “safety rating” requirement due to the unreliability of the Weiss rating. In response to letters from WBA, Bank of America, and others, FCC has granted individual waivers of the relevant LOC rules. The temporary waiver extends only to auction support recipients that wish to retain, renew, or reestablish their LOCs with banks that previously had Weiss ratings at or above a B- but have since seen that rating fall below B-. The waiver does not allow an auction support recipient to obtain an LOC from a new bank that did not previously provide it with an LOC if that bank has a Weiss safety rating below a B-.

The waiver will also allow auction support recipients whose support was suspended solely because their bank’s Weiss safety rating fell below a B-, and who have not yet obtained a new LOC from a bank with a sufficient Weiss safety rating, to resume receiving support. The waiver expires in one year, on March 12, 2025.

During the temporary waiver period, FCC stated it anticipates an evaluation of potential long-term solutions to the bank eligibility issue. WBA will continue to advocate for a more reliable safety rating system than the current Weiss rating system.

Read the FCC Order Read WBA’s Letter
/by
, ,

Community Advocate Spotlight: Jerry Jacobson, Northwestern Bank, Chippewa Falls

Jerry Jacobson

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Northwestern Bank President Jerry Jacobson.

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

Jerry: By the time I completed my MBA in the spring of 1978 in Chicago, I knew that large cities were not for me, so I moved back to my hometown of Chippewa Falls to look for a job. At that time, I was not sure what field I wanted to work in but was familiar with the banking industry as my mom had worked in the safe deposit area at a bank in town for many years.

When I returned to Chippewa Falls, I learned that another bank in town was hiring for a position that I was qualified for. That is when my career at Northwestern Bank started.

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

My favorite part of my job is listening to our commercial lenders who are so excited and motivated while they are working with entrepreneurs in getting their ideas into practice. I see their enthusiasm and satisfaction in helping the customers achieve their dreams. I love being able to provide them my insight to contribute to their successes.

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

I wish the public understood that banks are not like other businesses. We have a charter that calls on us to help our communities succeed. Of course, we need to make money, but we are also here to serve the community’s needs. I wish they knew that the banking industry — community bankers in particular — are at the heart of small business lending; that we assist in driving the nation’s growth.

Jerry and members of the band Black Sabbath.

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

The only way the banking industry will continue to succeed is with good employees and I feel that over the next few years, many long-time bankers will be retiring. Communication from the WBA reports almost daily of the retirement of another long-time employee and recently, Northwestern Bank celebrated fifteen employees with over 30 years of banking.

Unfortunately, I think it will be difficult to find employees who have the desire and passion to be bankers at all levels of banking. So, now more than ever, it is important that banks find ways to transfer that community-minded culture to new employees and nurture the same passion for banking that has been the norm in the past several decades.

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

Throughout my career at Northwestern Bank, I have had many rewarding experiences. One, however, happened when I was a young lender in 1982 and has stuck with me for over 40 years.

A young man in his 30’s — just a few years older than me — came in and said he was taking a two- month leave from work to travel and experience everything that Europe had to offer. He asked me for the largest loan I could possibly give against his life insurance policy. After a few months, he stopped back at the bank a to thank me and said he had the most enjoyable trip that anyone could have. Six months after I made the loan, it was paid off by his life insurance. He had passed away.

I tell everyone that I have the greatest job in the world to be a part of helping others achieve and enjoy their dreams and have a better life.

/by
, ,

Advocacy Update: New Year, New Opportunities to Advocate

By Lorenzo Cruz

With the start of the new year, many of us have taken time to reflect upon the accomplishments of the last year. For the Wisconsin Bankers Association (WBA) and our members, 2023 was full of success. Of note, our team of dedicated banking advocates helped to secure a historic victory in the state budget, which will save the industry tens of millions of dollars annually through a state tax exemption on certain commercial and ag purpose loans. Without the grassroots and financial advocacy support of the membership, this monumental achievement would not have been possible. So, as you begin to consider your resolutions for the year ahead, I hope that you consider actively engaging in WBA’s political advocacy efforts in 2024.

As always, there are a plethora of ways for bankers to be involved with WBA’s advocacy efforts to aid in shaping the future of our industry. Being an election year, it is ever so important that bankers are present to make their voices heard. Capitol Day, the Association’s most important and largest advocacy event of the year, will take place on February 22 in Madison at the Monona Terrace. The one-day event is a great opportunity for all bankers, regardless of advocacy experience, to gain insight on policy issues impacting the Wisconsin banking industry and make direct connections with their elected legislators. These meetings, which occur in small groups based on Assembly or Senate district, are an effective way for WBA and the membership to share our legislative priorities with policymakers.

On the financial front, it is no secret that election years bring with them political campaigns that are skyrocketing in cost. Being “B” for “Banker,” it is more important than ever that we are prepared to support pro-banking candidates on both sides of the aisle.

At the individual level, bankers should consider becoming a member of the Silver Triangle Club or Leadership Circle by making a personal contribution to Wisbankpac or the Alliance of Bankers Conduit (ABW). At the bank level, an organization can achieve Gold Triangle recognition by meeting certain aggregate contribution amounts to the PAC and ABW. These contribution levels are based on the asset size of the bank.

After the big win in the budget, the WBA government relations team continues to lobby at the State Capitol in support of our top three priorities: elder fraud, financial institution modernization, and trust code updates. Our team is also playing defense on issues regarding privacy, Merchant Category Codes (MCC), Environmental Social Governance (ESG), and credit card swipe fees.

As the Legislature turns its focus on passing legislation over the next three months, WBA calls upon our members to remain engaged in the process both financially and on a grassroots level. Political activism allows our collective voice to stand out and be heard.

/by
, ,

Executive Letter: Your Expertise Shapes Our Industry

By Rose Oswald Poels

Grassroots advocacy is a fundamental aspect of WBA’s efforts in supporting the industry, and your involvement is critical to the success of our advocacy priorities. As very few legislators have experience in banking, bankers are looked upon as trusted members of the communities our elected officials represent and are essential in conveying the impact legislative proposals will have on your community, bank, and industry.

In not only wrapping up the 2023–24 legislative session, but looking ahead to the elections later this year, it is vital that all bankers remain proactive in making their voices heard on issues impacting our institutions. The last year has seen significant success — especially at the state level — and we must keep this momentum going to ensure that our industry’s concerns are addressed and understood by policymakers.

On Thursday, February 22, 2024, the Association’s first advocacy event of the year — Capitol Day — will bring together banking advocates from across Wisconsin at the State Capitol. With so many key initiatives that we wish to accomplish, including guarding against changes to credit card swipe fees and pushing for financial institution modernization and elder fraud protection, it’s important that bankers utilize this invaluable opportunity to meet face to face with their representatives.

Capitol Day is also a great way for all bankers to expand their experience as advocates. In 2023, nearly half those present during the event were first-time attendees. In emphasizing the key issues impacting banks in Wisconsin and providing insight into the political and policy landscape of the state, you and your team will gain updates from the WBA Government Relations team as well as hear from a legislative panel and guest speaker to ensure confidence going into the small group meetings that WBA will arrange with state legislators determined by Assembly and Senate district.

Additionally, WBA will once again host two Washington Trips to meet with our congressional delegation — one in conjunction with the American Bankers Association (ABA) and the other in conjunction with the Independent Community Bankers of America (ICBA).

Regardless of your bank’s membership in either national trade group, all WBA members are welcome and invited to attend either (or both) the WBA/ABA Washington Summit on March 18–20, 2024 in Washington, D.C. and the WBA/ICBA Capital Summit, which will take place April 28–May 1, 2024. During each of these two trips, bankers can expect to hear from a variety of speakers as well as make trips to Capitol Hill that WBA will arrange to visit with those in our congressional delegation. Please let me know if you are interested in attending one of these two key summits at your earliest convenience.

Bankers are instrumental in amplifying the value of our industry and demonstrating how public policy impacts a bank’s ability to aid in the economic growth and vitality of their community. The Association is your partner in assisting your bank in its grassroots involvement and uniting the voices of all bankers in Wisconsin for the betterment of the industry. Thank you for your dedication to advancing the interests of the banking sector; I hope to see you and/or other members of your team this spring either at the State Capitol in Madison or on the Hill in D.C.

Register Now for Capitol Day 2024 Attend a Spring Summit in D.C.
/by
, , , ,

Executive Letter: WBA’s Revised Strategic Plan

By Rose Oswald Poels

Every October, the Wisconsin Bankers Association (WBA) Board of Directors meets for a planning session that always involves extensive discussions about where the industry is heading and the strategic positioning of WBA to maintain its role as a robust resource for our members. WBA staff update our progress on the plan prior to every Board meeting to ensure our strategic priorities remain at the forefront of work done by both the staff and Board.

This past year, we hired Wipfli as our facilitator and Robert Zondag (and his team) helped us revise and refocus our current strategic priorities to take us through the next few years. While some of the concepts were carried over from our current plan, the priorities are more focused to help ensure WBA continues providing value to the ever-evolving banking industry.

WBA’s revised plan is as follows:

Be THE leading state banking association through:

  • MEMBER ENGAGEMENT → Improve engagement across all forms of membership
  • PEOPLE → Build a culture to grow and retain talent
  • EDUCATION → Be the solution for banking education and professional development
  • ADVOCACY → Be the unified voice for Wisconsin Bankers
  • INFRASTRUCTURE → Create a dynamic data infrastructure to best serve our members

Given the rapidly evolving landscape of the financial institution industry, for WBA to continue to be successful, it is imperative that we foster increased member engagement. The successes highlighted in various ‘Executive Letter’ e-publications throughout 2023 illustrate that a more connected and engaged membership only enhances the collective strength of WBA. Staff will work to grow active participation from all member banks, and all levels of bankers, which will help us better target our advocacy efforts, education programs, products, and services to better meet your needs.

WBA has long been an association comprised of top-quality talent and that continues across the organization today. Just like your banks, it is our staff who are essential for the long-term success of your Association. The Board agreed that this priority should be clearly identified in our plan, and we are finalizing various tactics to make sure WBA offers a positive and nurturing work environment not only to attract top talent, but also to encourage staff to stay and invest their skills and dedication into the meaningful work we do on behalf of Wisconsin’s banking industry.

Along with an internal focus on our talent, WBA is always focused on the industry’s talent as well. The professional development opportunities offered by WBA’s education programs are second to none. Our members provide input into the development of our programs, and we will continue to improve our content with a focus on fostering leadership skills, and addressing the evolving knowledge and skill set needs of the bankers of tomorrow.

Advocacy on behalf of our members remains a top priority. Our pinnacle achievement of an unprecedented state income tax exemption for certain loans would not have occurred without the continued membership of banks located in Wisconsin which provides us resources, and the collective grassroots and political involvement of bankers over the years. This combination needs to continue well into the future for WBA to remain a strong voice for the industry.

Finally, like many of you, WBA needs to continue our digital transformation and adoption of innovative technologies to become more operationally efficient while providing a better experience for you as individual banker members.

These five strategic priorities build upon the strength of our Association’s more than 130-year history by taking an innovative approach that will keep WBA at the forefront well into the future. The WBA Staff and Board look forward to continuing to collaborate with the membership to ensure that our Association is your premiere partner in ensuring the success of your bank, our industry, and the communities we serve.

/by
, ,

Committee Chair Spotlight: Mark Oldenberg

The following is a brief interview with Mark Oldenberg, president and CEO at Security Financial Bank, Eua Claire. Oldenberg is chair of the 2023–2024 Government Relations Committee.

How did you first get into the banking industry?

I always had an interest in finance. After graduating college, a family friend who worked for a local bank was able to arrange an interview for a lending position and I was fortunate enough to be hired.

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

After a few years of attending conferences there was an opportunity to join a committee, I saw this as an opportunity to help bring resources to other bankers and build my network. Since then, I have been on several committees and have grown to recognize how WBA works to help community banking and how much the industry needs them.

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

In addition to the networking opportunities, I have had the chance to chair the GR Committee and present at the Bank Executive and Management Conferences, which have improved my leadership and presentation skills, while helping me become a better public speaker.

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

I have learned how important it is to be a good listener and the importance of good communication.

Who (or what) motivates you to succeed?

I am motivated through my experiences with both our employees and customers. Getting to be part of the accomplishments of both of these groups is incredibly rewarding.

/by
, , , ,

Executive Letter: Looking Back at 2023

By Rose Oswald Poels

For many of us, the end of the calendar year is a time to pause and reflect upon all we have achieved. As a member-driven association, the Wisconsin Bankers Association (WBA) relies on the valuable insight and active engagement of our membership. With your help, 2023 resulted in monumental success for Wisconsin’s banking industry and reaffirmed the Association’s commitment to our members.

A top priority for the Association has long been advocating for fairness between banks and credit unions, and this year — with the help of many bankers — WBA led the historic step towards parity. The unprecedented state tax law provides all banks (C-corp and S-corp) with an income tax deduction beginning in 2023 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. It is because of the grassroots advocacy and political engagement of unified bankers that we see such success.

In addition, WBA has continued to support and educate bankers as they serve communities throughout the state. In 2023, WBA developed a range of consumer resources for banks to utilize, made available new best practice resources informed by WBA committee and section members, offered opportunities — such as peer groups and an employee resource group — for bankers to connect and share ideas, and provided a wide range of in-person and virtual educational programs. These initiatives are just a handful of the ways WBA stands to benefit bankers in Wisconsin, and without the participation of our membership to inform and shape them, our Association would be nowhere near as relevant nor impactful.

As always, thank you for your continued involvement in and support of the WBA; I am grateful to work alongside so many individuals who take extensive pride in promoting Wisconsin’s banking industry and the financial success of communities across the state. In turning the page on yet another accomplished year, I — and the dedicated team at WBA — look forward to what is in store for our Association, our industry, and our communities in the year ahead. I wish you all a happy and successful New Year!

/by
Wisconsin Bankers Association logo

questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

Get our Newsletter!
Subscribe