Tag Archive for: Advocacy

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Grow and Thrive… Expanding Your Opportunities

Make the most of your WBA membership

By Daryll Lund

For 130 years, the Wisconsin Bankers Association (WBA) has strived to offer member banks expansive opportunities to grow and thrive within our industry. In being a member-led organization, the WBA highly encourages bankers of all levels to engage with educational and advocacy-related events, programs, and groups.

As part of its mission to support every member, WBA annually offers hundreds of educational opportunities — from one-hour webinars to five-day schools. While the main objective of all WBA programming is of course professional development, one significant benefit many of us have sincerely missed over the last several years is our ability to connect with one another.

The team at WBA regularly expresses to me how special it is to witness our member bankers — there are over 35,000 of them — meet and foster connections through WBA conferences, outings, and groups. As events continually return in person, I am excited to serve witness once again to the all the new ideas created and connections formed as many Wisconsin bankers reconvene for the first time since the onset of the pandemic.

Since WBA’s inception, the development — both professionally and personally — of bankers has been a focal point in our mission to support Wisconsin’s banking industry.

In addition to the training and educational programs WBA offers throughout the year, there are many other volunteer opportunities that individual bankers of all levels may engage in.

These opportunities not only allow for bankers to gain further insight into a specific area of the bank from their peers but encourage them to ask questions and assist WBA staff members in creating meaningful and relevant programs, resources, and content for other bankers throughout the state. Volunteering as a WBA Advocacy Officer, attending the Building Our Leaders of Tomorrow (BOLT) Summit, or engaging with one of WBA’s Connect Peer Groups — to name just a few of the opportunities WBA offers to members — allows bankers the ability to make their voices heard throughout the industry.

As your bank looks ahead to all the programs, classes, and events that WBA will be hosting for the remainder of the year, we look forward to welcoming many of you back in person as well as assisting you and your teams in enhancing your connections to your industry and peers across the state.

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Advocacy Update: Getting Involved This Election Season

By Lorenzo Cruz

When it comes to elections — Wisconsin is largely known to be a battleground state, and it’s no surprise that the upcoming 2022 election looks no different. WBA predicts Wisconsin to yet again take the national stage as Republicans and Democrats fight for control of the state legislature, the East Wing, and U.S. Congress.

What to Expect

The GOP anticipates a possible red wave which could lead to veto-proof super majorities and a recapturing of the governor’s office. Democrats, on the other hand, look to keep Governor Tony Evers in office and block super majorities in both state houses. There are currently 29 seats in the legislature up for grabs due to retirements or legislators pursuing other offices. Twenty-two seats are in the state Assembly and seven seats are in the state Senate.

With the state’s congressional and legislative district maps set after state and U.S. Supreme Court intervention, elected officials now shift their focus into full election mode. Nomination papers were submitted on June 1 by all candidates. Over a dozen incumbents drew challengers for the August 9 primary.

Whom to Watch

The only Democrat incumbent to draw a primary opponent is Secretary of State Doug La Follette who faces Alexia Sabor, chair of the Democratic Party of Dane County.

Nine total GOP members of the state Senate and state Assembly are confronting primary challenges which include Assembly Speaker Robin Vos (R-Rochester) and Senate Majority Leader Devin LeMahieu (R-Oostburg). Other state GOP incumbents contending with primary challengers include Senator Van Wanggaard (R-Racine), Rep. Joel Kitchens (RSturgeon Bay), Rep. Tyler August (R-Lake Geneva), Rep. Robert Brooks (R-Saukville), Rep. James Edming (R-Glen Flora), Rep. Treig Pronschinske (R-Mondovi), and Rep. Loren Oldenburg (R-Viroqua).

GOP challengers are campaigning on a variety of issues including, but not limited to: election integrity/reform, COVID-19 vaccine mandates, masking in schools, and incumbent leadership change.

On the federal side, U.S. GOP incumbents facing challenges in the August primary are Senator Ron Johnson (R-Oshkosh), Rep. Glenn Grothman (R-Glenbeulah), Rep. Tom Tiffany (RMinocqua), and Rep. Mike Gallagher (R-Green Bay). There is only one open seat without a primary or general election — Democrat Rep. John Brosthoff’s (D-Milwaukee).

Campaign strategists expect extraordinary amounts of political spending on state and federal races in Wisconsin. At a recent WisPolitics luncheon, GOP Party Chair Paul Farrow and Democratic Party Chair Ben Wikler agreed that Wisconsin could see record-breaking spending for campaigns from outside groups, campaigns, and both parties in the area of $700 million. The incredible volume of television, radio, print, and social media advertisements for state and federal campaigns will increase exponentially at a blistering pace over the next several months.

How to Participate

As always, the WBA Advocacy Team urges the members to be engaged in the political process. Our state and federal elected officials shape public policy by passing legislation or administrative rules which greatly impact the banking industry.

There are two ways bankers can help make a difference on the advocacy front. The first is become an Advocacy Officer. Currently, over 100 banks across the state have already designated Advocacy Officers, representing more than 50% of all WBA-member banks. These officers serve as another powerful and relevant voice that helps amplify WBA’s message and raise the visible presence of the banking industry back home in the legislative district or in Madison on Capitol Day. This fiscal year, WBA hopes to continue to grow our ranks upwards until we have 100% participation.

The second way is to contribute to Wisbankpac — WBA’s state political action committee — or to the Alliance of Bankers for Wisconsin (ABW) — WBA’s state conduit. As you very well know, campaigns are extremely expensive. These political contributions help defray campaign-related expenses and support pro-banking and pro-business candidates.

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Executive Letter: Your Judicial Advocate

Rose Oswald PoelsBy Rose Oswald Poels

As I’ve discussed in past issues of the Executive Letter (view here, here, and here), several Wisconsin financial institutions are 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 a few class action law firms.

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. For example, WBA just became aware of a case in Dane County that was successfully dismissed, in favor of the bank, on a motion to dismiss. Due to lookback periods, WBA believes these representment class action suits will continue to be filed against banks for at least the next year and then will start to diminish. The goal, of course, is to force a settlement which is occurring in Wisconsin and around the country.

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; 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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CUs Continue Expansion Into Wisconsin Markets

By Hannah Flanders

Earlier this year, one of the largest credit union acquisitions of a bank nationwide occurred in Wisconsin. As the deal between Commerce State Bank, West Bend and Summit Credit Union, Madison prepares to close in the third quarter of 2022, it is becoming increasingly important that WBA and its membership act in opposition of further credit union expansion and hold these institutions accountable for the implications to Wisconsin’s economy.

First established in the early 1900s, credit unions aimed at providing access to credit and financial services to those of low or modest means. However, since their inception in the U.S., credit unions have largely gone unrestrained and have expanded into entities nearly indistinguishable from banks. As of May 2022, six of the 10 largest financial institutions in the state of Wisconsin were credit unions. Of these credit unions, 14 have equal to or greater than one billion dollars in assets, operating essentially as large commercial banks — aside from their tax-paying status.

Due to their not-for- profit status, credit unions are exempt from federal and state income taxes. As these institutions remain widely unchallenged by regulators, credit unions take advantage of their tax-exempt status for their own asset growth and continue to expand far beyond their employer- or neighborhood-focused origins.

Why Community Banks?

Unfortunately, acquisitions of Wisconsin banks by large, growth-oriented credit unions — such as the case with Commerce State Bank and Summit Credit Union — have become increasingly common over the last several years. In total, six whole-bank acquisitions by credit unions have taken place in Wisconsin since 2014.

Throughout the country, 13 whole-bank acquisitions by credit unions took place in 2021 alone — an alarming trend that is expected to continue through 2022 and beyond.

As member-owned organizations, credit unions have a unique interest in community banks. Due to small banks having close ties to their communities and often offering specialized services — such as digital banking or business lending — credit unions have the ability to expand their portfolios and their assets through the acquisition of a bank all while gaining new members.

Increasing competition for both employees and customers has significant impacts on financial institutions across the country. Growth-oriented credit unions in Wisconsin are increasingly lenient in the addition of new members, often not verifying that these customers align with those they are intended to serve.

“These multi-billion-dollar credit unions around the state are able to gain momentum though tax-subsidized acquisitions,” states WBA Vice President — Government Relations Lorenzo Cruz. “Community banks are often unable to compete with rising investor interest in merger and acquisition activity and premium offers.”

 

In addition to their tax-exempt status, credit unions — despite having been founded to provide greater access to financial services — have no requirement to participate in providing Community Reinvestment Act (CRA) investments, or similar programs, to low- and moderate-income (LMI) neighborhoods. These excess funds that are not allotted into community efforts or back into their membership can be used as leverage for purchasing banks.

As many Midwestern banks continue to be the target of credit union expansion, it is likely — according to a report published by Wilary Winn LLC — that a buying credit union will bid entirely in cash. This type of offer, already difficult for shareholders to refuse, has reportedly been upwards of three times higher than other bids in some cases.

An Unfair Advantage

In statement released by WBA President and CEO Rose Oswald Poels shortly after the Commerce State Bank acquisition was announced in March, Oswald Poels highlighted the need for fair and healthy competition within the financial service industry. As credit unions continue to expand their geographic footprint and offerings to members, these institutions have quickly become increasingly indistinguishable from tax-paying banks.

Membership to a credit union often costs as little as $5 — but with thousands of members across the country and no requirement to pay income taxes in many states — these profits continue to rise. Credit unions are often able to offer extremely low rates on services. If credit unions abided by their intended mission to only serve specific communities, these low rates would only affect a small percentage of population — however — in 2021, the Credit Union National Association (CUNA) reported that membership had risen to above 130 million Americans.

Community banks do not have the same flexibility with their rates and therefore, are often unable to compete with the rates of credit unions. As highly regulated organizations, the cost of some banking services may be intentionally or unintentionally affected by agencies, including the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), or the Federal Deposit Insurance Corporation (FDIC).

Of course, the greatest damage to Wisconsin’s economy comes from the loss of tax revenue each time a bank is acquired by a credit union. Annually, the U.S. Treasury loses $2.6 billion in income tax revenue across the country as many of the largest financial institutions remain tax exempt, according to information provided by the American Bankers Association (ABA). As more and more banks are acquired by tax-exempt credit unions, this number will continue rise — forcing the burden onto individuals and tax-paying businesses and ultimately limiting consumer choice.

Taking Action

With the number of banks headquartered in the state decreasing each year — and the number of credit unions throughout the country continuing to rise — WBA has placed even greater emphasis than ever on advocating in opposition of all credit union expansion.

Over the last 10 years, credit unions around the country have acquired $11 billion in bank assets, according to the ABA. While Wisconsin law continues to allow banks to sell all or a substantial portion of their assets to other companies, given that several criteria are met, many states have made considerable moves in legislation against whole-bank acquisitions in their state by credit unions. So far, Colorado and Iowa have barred state-chartered banks from selling to credit unions.

Last year, WBA advocated in opposition to AB 478/SB 451 which ultimately would have allowed credit unions even further opportunities to expand throughout the state.

In addition to this state legislative effort, WBA regularly joins other state banking associations at the federal level in efforts to keep credit unions in check. These combined efforts not only unite the banking industry throughout the country but also emphasize to legislators the important role bankers play in every community.

“Wisconsin is experiencing a disturbing trend of credit unions buying banks. These acquisitions result in a direct loss of tax revenue to the state and federal government which places more of the burden on individuals and taxpaying businesses to support meaningful government and social services such as law enforcement, health insurance for low-income families and their children, infrastructure, and education,” says Oswald Poels. “WBA repeatedly questions the public policy rationale for allowing these acquisitions to occur with state and federal lawmakers highlighting the detriment to our state every time one is announced.”

Though the future of credit union expansion — both in Wisconsin and around the country — is uncertain, it is clear that so long as they remain untaxed, unchecked, and underregulated, credit unions will continue to extend their reach far beyond their intended purpose. As growth-oriented credit unions continue to be a detriment to the overall health of the state’s economy, WBA encourages bankers to advocate on behalf of the industry. Whether it be volunteering as a WBA Advocacy Officer to speak with elected officials or in day-to-day conversations with community members — bankers play an important role in holding credit unions accountable.

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Executive Letter: Ushering in a New Fiscal Year

Rose Oswald PoelsBy Rose Oswald Poels

Earlier this month, the Wisconsin Bankers Association (WBA) began its 2022–2023 fiscal year. The ceremony, held on June 8, formally installed President and CEO of The Stephenson National Bank and Trust Dan Peterson as WBA’s chair of the Board, welcomed several new Board officers, and thanked several members for their valuable contributions to the association as they ended their terms.

Dan was able to sit down with me for a short conversation to introduce himself to the membership and highlight the goals he has for the organization for the upcoming year.

Dan first started his career in banking as an assistant loan officer at The Stephenson National Bank and Trust in 1988. After gaining experience in all lending areas of the bank, he was promoted to his current role as president and CEO in 2013.

As chair of the WBA Board of Directors, Dan aims to deepen member engagement this fiscal year. Following nearly three years of remote or hybrid events, conferences, and schools, it is no question that bankers throughout the state are looking to reengage with their peers and gain valuable experience outside of the office.

As more education and advocacy-related opportunities at WBA return in person — such as peer groups reconvening at our office in Madison or conferences occurring at venues across the state once again — the membership is encouraged to take advantage of WBA’s selection of options to further develop skills, network among peers, or volunteer time for the benefit of our entire industry.

In addition to taking part in events held by WBA, Dan offers a few other ways bankers may consider deepening their engagement with the association. WBA’s newly renovated office in Madison features a state-of-the-art Engagement Center for members from around the state to use, and the Wisconsin Bankers Foundation (WBF) — WBA’s non-profit arm — offers resources that assist bankers in further engaging and connecting with their communities on the topic of financial literacy.

As Dan, the WBA staff, and I look ahead to another summer and fall filled with opportunities for bankers to deepen their knowledge and expand professional networks — we encourage you and your staff to engage however possible. By joining our CEOnly/CFOnly Network, becoming an Advocacy Officer, or attending any WBA school or event, you assist us in better serving you!

To learn more about WBA Board Chair Dan Peterson and his goals for the upcoming fiscal year, please keep an eye out for WBA’s upcoming July Wisconsin Banker.

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WBA Takes Steps to Help Protect Wisconsin Seniors From Costly Financial Fraud

By Lorenzo Cruz

Financial exploitation of the elderly population is a growing and widespread problem domestically and globally. It is difficult to comprehend that an individual would deliberately prey upon senior citizens for significant monetary gain, but financial exploitation has become a pervasive problem frequently costing seniors billions of dollars worldwide. On June 15, World Elder Abuse Awareness Day, bankers are encouraged to join WBA in raising awareness to help prevent the financial exploitation of elders across the country.

What to Look For

Often, criminals devise deceptive schemes to disguise the criminal activity that seniors often fall victim to. Some of the common frauds affecting seniors include romance scams, government impostor scams, friend impostor scams, and online shopping scams. Fraud reports filed with the Federal Trade Commission (FTC) reported that seniors’ losses totaled $600 million in 2020. The costliest schemes were romance scams with reported losses of $139 million in 2020. However, the vast majority of elder financial exploitation goes unreported.

What is more disconcerting is that sometimes the criminal masterminds could be the durable power of attorney (POA) like a family member or close friend. A family member is the perpetrator in over 60% of these financial abuse cases, according to a University of Southern California study. The National Council on Aging (NCOA) estimates that approximately 10% of Americans above the age of 60 have succumbed to some form of elder abuse. Several of the warning signs to be on the watch out for related to financial abuse are sudden changes in seniors’ personal finances, uncharacteristic bank withdrawals, checks written out as loans or gifts, lost property, and unpaid bills.

Seniors can protect their finances by maintaining accurate financial records, never providing personal information over the phone, getting a second opinion on financial matters from an attorney or financial advisor, and selecting a trustworthy person to assist in managing personal finances. If family or friends suspect financial elder exploitation, talk to the victim about the possibility of fraud and report suspected abuse to adult protective services, law enforcement, and banks. While banks are restricted from sharing specific account information, they can review potential abuse and report suspicious criminal behavior.

Actions WBA is Taking

Last July, South Carolina Governor Henry McMaster signed a law to protect vulnerable adults from fraudulent financial transactions. The new law allows financial institutions and financial service companies to decline, delay, or report transactions that are suspected of elder financial abuse for vulnerable adults 55 years or older. At that time, South Carolina joined 31 other states that passed similar legislation.

In the Badger State, the Wisconsin Bankers Association (WBA) pursued a similar path to protect seniors from this insidious crime wave and reintroduced an elder financial exploitation bill in 2021. SB 19/AB 46 and SB 20/AB 45 co-authored by State Senator Pat Testin and State Representative John Macco provided financial institutions and securities companies with  the tools to better protect their vulnerable adults and senior customers from fraud and abuse. The bills would allow financial institutions and securities companies to pause transactions suspected of financial elder fraud and would allow them to collaborate with the customer, a trustworthy list of individuals, and law enforcement to determine if the transactions should be approved. While the potential elder abuse transaction is on hold, the remaining funds in the account would still be available for other transactions. The bills also would permit reporting requirements, provide liability protections, and allow refusal of POA in suspected elder fraud cases.

As the elder fraud legislation moved through the legislative process, WBA’s advocacy efforts saw mixed success on the bills before the state legislature. WBA actively lobbied the issue and passed the elder fraud legislation in the assembly on a bipartisan vote with an overwhelming majority. Unfortunately, the bill stalled in the Senate Committee on Financial Institutions and Revenue. Despite falling short on passing an elder financial exploitation law in Wisconsin, WBA made tremendous progress on the issue. WBA’s government relations team remains committed to enacting legislation that would provide banks with the tools needed to protect seniors from costly fraud. Passage of the elder financial exploitation legislation remains a high priority for WBA during the next legislative session, which begins in January of 2023.

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U.S. Supreme Court Overturns State Supreme Court’s Redistricting Decision

By Lorenzo Cruz

Most political operatives prognosticated that the U.S. Supreme Court would not reverse the Wisconsin Supreme Court’s decision on the redistricting court case. In early March, the Wisconsin Supreme Court ruled on a 4–3 decision to adopt Governor Tony Evers’ legislative and congressional maps rather than use the GOP-controlled state Legislature’s version of the maps. 

The majority in the split state Supreme Court decision viewed the Governor’s configured maps as more closely aligned to the ‘least change’ approach, which was used to develop the existing legislative and congressional boundaries drawn a decade ago. The state Supreme Court decision was considered a victory for Democrats and a setback for the GOP.

The Governor’s maps had 55 GOP seats and 44 Dem seats in the State Assembly and 20 GOP seats and 13 Dem seats in the State Senate. By contrast, the GOP maps had 64 Assembly GOP seats and 35 Dem seats and 22 Senate GOP seats and 12 Dem seats. Even under the Governor’s new maps, Democrats still had an arduous path to regaining majorities in both houses of the state Legislature.

In what many capitol observers considered a surprising move, the nation’s highest court in a 7–2 majority overturned the ruling and found that the state court erred in its application of the Voters Rights Act (VRA), which led to the creation of a seventh majority Black Assembly district. Currently, there are six majority Black districts on the map. The GOP-designed maps contained five majority Black districts. The U.S. Supreme Court also rejected the GOP’s request to overturn the Governor’s congressional maps. 

In the appeal, GOP lawmakers contended that Evers’ plan violated the U.S. Constitution Equal Protection Clause because it improperly applied the federal VRA when drawing seven majority Black Assembly districts in the Milwaukee area. The U.S. Supreme Court conservative block sided with the GOP position and sent the issue back to the state court. The Supreme Court’s reversal in the case meant more rounds of court activity around what the maps should look like.

The state Supreme Court’s decision could have brought resolution or more litigation at the federal court. In early April, Wisconsin was under a cloud of uncertainty and momentarily waiting in limbo on the maps. However, the judicial winds changed swiftly again in mid-April with the state Supreme Court in a 4–3 decision approving the GOP’s version of the legislative maps. With the elections looming in the fall and nomination papers set to circulate on April 15, the state Supreme Court acted decisively on the case. The Wisconsin Supreme Court found the Wisconsin Legislature’s maps complied with the Equal Protection Clause, along with all other applicable federal and state legal requirements. Furthermore, the state Supreme Court concluded the Legislature’s maps were race neutral and followed the ‘least change’ approach, which the state’s highest court adopted a decade ago.

WBA expected interested parties on both sides to fight vigorously and exhaust all avenues in the judicial process to secure legal, legislative, and congressional maps that support their desired political outcomes. Barring any more legal challenges, the state Supreme Court’s action brings closure to the redistricting court case in 2022.

The political stakes are extremely high with control of the U.S. Congress and state Legislature as well as Wisconsin’s Gubernatorial seat in play. The Badger State could again be a battleground
and a bellwether for the rest of the country for hotly contested races. Stay tuned for more political developments as the drama continues to unfold in the primary and general elections.

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Reflecting on Another Incredible Year

Ken Thompson HeadshotBy Kenneth D. Thompson

As my time as WBA Chair comes to a close on May 31, and I prepare to hand the baton over to Daniel Peterson, I wish to reflect upon the remarkable efforts bankers throughout our state have made this year to ensure the success of our industry. Even as we continue to feel the residual impacts of the pandemic, Wisconsin bankers continue to face every challenge in stride and stand as trusted partners in their communities.

 

Advocacy

This year, over 100 bankers from around the state attended WBA’s annual Capitol Day at the State Capitol in Madison. In addition to hearing from Wisconsin political leaders, bankers met with legislators to convey how issues like credit union expansion, banking regulatory modernization, interchange fee legislation, and elder fraud directly impact their local economies and consumers.

Similarly, many bankers have testified on several WBA key issues in the last year. Your grassroot involvement was critical in preventing bills such as those allowing for the expansion of credit unions from moving past either House. Your engagement in testifying, commenting, and supporting WBA’s efforts further unites our industry.

Education

As bankers continue to embrace new post-pandemic realities, WBA staff too is learning and shifting to best meet the needs of WBA members. Between new hybrid approaches to specific conferences and events geared at keeping our bankers informed — thousands of bankers from throughout the state have benefited from WBA’s adaptability in times of uncertainty which has allowed banks across the state to continue to grow and embrace each challenge faced.

These challenges, though difficult, have also been extremely rewarding. Bankers have shown their innovation and flexibility not only for the sake of their team members, but for their communities. This year, over 100 banks participated in WBA’s fifth annual Power of Community Week to engage with members of their communities through various service events. Throughout the year, the efforts bankers make in establishing connections within the communities they serve prove valuable in aiding the financial wellbeing of our neighbors. Additionally, your efforts assist in shaping the public’s opinion of the banking industry — a valuable perspective to hold especially as we approach election season — continue to explore new ways of embracing technology, and evolve as an industry.

I would also like to extend a sincere ‘thank you’ to WBA President and CEO Rose Oswald Poels and her staff — I speak for many of us when I say I am deeply grateful for the work that the association does for the banking community in Wisconsin and beyond.

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Executive Letter: Advocating, Educating, and Supporting Wisconsin Bankers

Rose Oswald PoelsBy Rose Oswald Poels

As WBA’s fiscal year concludes at the end of May, I am continually impressed with how bankers and WBA staff members alike take each challenge in stride. While disruptions of the COVID-19 pandemic have yet to fully subside, our Association has continued its focus in promoting a healthy environment for banks in Wisconsin through actively advocating, educating, and supporting members.

In March, the Association celebrated 130 years of serving Wisconsin banks. Like it was in the first meetings of the WBA, advocacy continues to be a major focal point in our mission to support the banking industry. This year, 100 bankers from across the state attended WBA’s annual Capitol Day in Madison. Additionally, 112 banks designated Advocacy Officers to coordinate regulatory, legislative, and community advocacy efforts alongside the WBA.

With your help, 10 WBA legislative priorities or WBA-influenced bills were signed into law during the 2021–22 legislative session. WBA’s government relations team has also been busy this past fiscal year fundraising and looking ahead to the 2022 elections in Wisconsin. As of this writing, Wisconsin bankers have contributed a total of $192,193 to WBA’s political action and issue advocacy funds. Be it a donation or attendance at a public hearing, I deeply appreciate your efforts in ensuring the success of our industry!

In addition to advocating on behalf of the Wisconsin banking industry, our Association prides itself on providing bankers with in-depth and up-to-date educational opportunities. WBA offered 95 training programs and events tailored to every level of the bank this fiscal year. Of these events, 4,750 bankers were in attendance to expand their expertise and network with peers. As COVID restrictions continually loosen in the state, many WBA conferences and events have returned either in person or to a hybrid setting.

Above all, WBA’s top priority for the last 130 years has been supporting its members however possible. This year alone, nearly 1,600 bankers utilized WBA’s Legal Hotline and each day, over 2,600 bankers across the state receive the Wisconsin Banker Daily, featuring recent industry and compliance-related news, straight to their inbox.

Looking ahead to WBA’s next fiscal year, in addition to our efforts advocating and educating, WBA staff will continue to update resources and provide Wisconsin banks with the best tools for insurance, services, and products. For more information on WBA’s 2021–22 fiscal year, please look for a complete, in-depth Year in Review in the upcoming June Wisconsin Banker.

As always, I thank you for your support of WBA. Your membership continues to allow us to advocate for our industry both at the state level and in D.C., educate beginning and experienced bankers, and provide resources for all areas of the bank. Invoices for the new fiscal year dues will arrive in the mail by the beginning of June. If you have any questions or concerns about your membership, please do not hesitate to contact me.

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Executive Letter: Bank Leadership and Advocacy

Rose Oswald PoelsBy Rose Oswald Poels

For 130 years, advocacy has been at the core of WBA’s mission and a key focus of the banking industry. While advocacy is not directly in the job description of most banking positions, bankers have long recognized that being actively engaged in all aspects of advocacy helps preserve the franchise value of banks.

I’m incredibly proud of how many bankers took time out of their busy schedules to send letters, make calls, participate in hearings in Madison, travel to Washington, D.C., attend public meetings of elected officials, and personally contribute to the industry’s political action funds throughout this last year! All of these efforts were critically important to augment WBA’s own work in achieving policy success for our industry. Recently, we mailed each member the WBA Advocacy Report which highlights the industry’s advocacy accomplishments this biennium. It was a very active session with WBA working hard on both offense and defense!

In that same mailing, each member received a copy of our Advocacy Toolkit which contains our annual fundraising request for political funds from you, your team, and your bank. With the number of banks in the state shrinking, it is more important than ever for everyone to step up and contribute to this industry effort. I recognize that the money side of advocacy is not always the most appealing; however, it is critical to make sure those who support banking are elected to office in Madison and in Washington, D.C. Our goal for this calendar year is to raise $300,000 — a feat we have not accomplished in the last four years. Ideally, we would welcome every banker contributing as even small dollar contributions help make a big difference. I personally give at least $4,000 each year, and I encourage executive management to give generously this year as well since our livelihoods depend on the success of this great industry. In 2021, 152 bankers earned the Silver Triangle award by contributing at least $500 to our advocacy efforts. I encourage new members to consider joining at the Silver Triangle level and urge existing members to double, triple, or quadruple their donation amount. Your contribution to any combination of the Wisbankpac, ABW, or the issue advocacy fund would dramatically move WBA closer to achieving its calendar year fundraising goal.

In addition to personal contributions, I encourage each bank to consider making an issue advocacy contribution. This is a corporate contribution, payable to WBA, that we use to join with our business coalition partners to create pro-business public policy messages. These dollars are also extremely helpful to achieve our advocacy goals. I welcome and encourage corporate contributions of any amount; and for those whose bank give at least $5,000, we are hosting three special outings in Kohler, June 20–21, that two individuals may attend.

Finally, the WBA advocacy team is very willing to come and speak in person to your staff and/or board of directors on our current advocacy work. I promise this is not going to only be a sales pitch for money (although we will mention political giving at the end). Our team is able to structure the presentation in a manner to which you prefer and can include talking about policy issues affecting the banking industry here in Wisconsin and in DC, as well as redistricting, key legislative races, regulatory initiatives, and other similar topics. Contact me anytime to schedule this type of presentation.

If you did not receive the Advocacy Toolkit in the mail or would like additional fundraising templates/materials to share with your staff, please let me know. Thank you for all you do to advocate for the banking industry!

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608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

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