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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.

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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.

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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!

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Executive Letter: Your Judicial Advocate

By Rose Oswald Poels

For the last 18 months, many Wisconsin financial institutions have been fighting class action lawsuits on the issue of represented items and fees. These lawsuits are occurring across the country against banks and credit unions and appear to be generated from the same few class action law firms.

While WBA does not normally get involved in bank litigation until it reaches an appellate level, in these cases, however, it is helpful for WBA to know whether your bank is involved in such litigation, so we can help share what we know about others facing the same class action suit. There is value in similarly situated banks, along with their legal counsel, talking with others so they can help each other respond in these cases. In just the last two months, two more banks were newly served with their own respective summons and complaint on these same issues. Many of these lawsuits occurred in 2022 and while WBA does not know the resolution of every case, many were successfully dismissed, in favor of the bank, on a motion to dismiss. The goal, of course, of these class action lawsuits is to force a settlement from the bank.

WBA will collect bank name and contact information, venue, issue at hand, and the name and contact information for bank’s counsel involved in the matter. WBA will share the collected information with member banks requesting the information; however, this information will not be published. My hope is to help connect banks, and their counsels, with each other to discuss experiences and help find resolutions.

In addition to serving as a central repository of these class action suits against banks, as mentioned above, WBA does get involved as a friend of the court in cases at an appellate level where a bank is involved as a party. WBA may get involved as a friend of the court in cases of widespread importance to Wisconsin banks generally and where the banking industry is in general agreement on the issues. If requested by a member to participate, the facts of the case are defensible, and WBA’s counsel believes a reasonable chance of being persuasive exists, a recommendation is made to the WBA Board of Directors for their approval of involvement. If approved, WBA will collaborate with its outside counsel to get involved as a friend of the court. WBA will not participate in cases involving two or more member banks as opposing parties.

If your bank is facing a suit, please assist WBA in assisting other Wisconsin banks facing similar cases by letting me or WBA’s VP – Legal Heather MacKinnon know.

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Community Advocate Spotlight: Steve Ploetz, Bank of Prairie du Sac

Steve Ploetz

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Prairie du Sac President Steve Ploetz.

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

Steve: My father, Charlie Ploetz, was an attorney in Prairie du Sac. He had been practicing law since 1945 and when my mother passed away in 1968, he began thinking about a career change. He had made the decision to move out West in 1970. However, Edward Gruber, the Bank of Prairie du Sac’s president at that time, heard of my dad’s plan and approached him about buying his shares and taking over at the bank. As a result, Dad became a banker.

In 1976, I graduated from the University of Wisconsin– Madison and joined my dad at the bank in 1977. I am proud to say that I am still here today.

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

Like other community bankers, I really enjoy working with people to help them be successful. Whether it’s employees or customers, helping them achieve their goals is especially rewarding.

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

The role we play in supporting our communities and the differences between banks and credit unions. I’m not sure the general public understands that their deposits are what fund the loans we make back out in our communities. I also don’t believe they understand the tax advantages credit unions enjoy.

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

Margins, growth, credit quality, and cyber criminals are sure to be significant challenges our industry will face. Cyber is what scares me the most; technology is changing so fast, and the bad guys are really smart. Keeping our banks and our customers safe from cybercrime will be one of our greatest challenges.

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

After 40 plus years, there have been so many special people, businesses, charities, and community events. But it’s all the little things that keep me going.

Recently, a customer I hadn’t talked to in years came to thank me for the loan I gave her 30 years ago to help start her business. She came in to share that she had just sold her business and was retiring. As she left my office, I told her she had just made my day, which made us both smile. You cannot put a price tag on lasting relationships with customers, businesses, and employees, and it is wonderful to hear you have made an impact on people’s lives.

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Wisconsin state capital building view from above
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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.

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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.

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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.”

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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
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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.

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608-441-1200

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Madison, WI 53718

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