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Leaders Wall 2021

Executive Letter: Join the Class of 2023

Rose Oswald PoelsBy Rose Oswald Poels

The history of Wisconsin’s banking industry is storied and expansive. Since 1892, the Wisconsin Bankers Association (WBA) has stood witness to generations of banking leaders who have made significant strides in ensuring the economic wellbeing of our communities and helping shape our industry into what we know today.

In 2020, the Association inaugurated its tradition of honoring current and former bankers who have demonstrated excellence in community service, civic involvement, and Wisconsin’s banking industry. A total of 26 prominent banking leaders have so far been commended for their commitment to our industry with a permanent plaque on display in WBA’s headquarters in Madison. The Leaders in Banking Excellence Wall is centrally located in WBA’s Engagement Center where thousands of bankers from across the state visit annually as they attend a variety of meetings and training programs.

Now in its fourth year, WBA is excited to once again recognize bankers who not only denote excellence in their positions, but exemplify the highest standards of ethics, professionalism, and enthusiastic service.

Nominations to join the WBA Leaders in Banking Excellence Class of 2023 are now being accepted through May 12. If you are interested in nominating a banking leader for this prestigious honor, please visit wisbank.com/excellence or contact me for more information on how to apply.

Bankers have also been recognized posthumously. This honor wall does require a financial contribution of $10,000 payable to either WBA or its public charity, the Wisconsin Bankers Foundation (WBF). Once the Class of 2023 has been finalized, an in-person celebration will be held at the WBA Office in early September including speakers from the Wisconsin Department of Financial Institutions (DFI) and a member of Congress.

Wisconsin’s banking history is full of many great leaders, and for the past thirty years (and counting) I have been privileged to work alongside you. This honor wall is a meaningful tribute to the individual and collective contributions many have made to our industry. Thank you for considering this invitation to nominate yourself or another to join our Class of 2023 Leaders in Banking Excellence Wall.

Nominate a Banker
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Executive Letter: Creating Safe and Meaningful Spaces

Rose Oswald PoelsBy Rose Oswald Poels

As part of WBA’s Diversity, Equity, and Inclusion (DEI) plan, I have been hosting monthly Employee Resource Group (ERG) calls allowing member bankers from historically underrepresented groups to have a forum to share ideas, issues, and advice in a safe, confidential environment. The meetings are never recorded to help ensure that conversations are kept private among those attending. Attendees from past ERG meetings — which began last June — are from all size banks across the state, including some that have their own ERG program.

Each meeting, I receive feedback on the structure, content, and timing of the meetings so that they evolve to be meaningful and relevant for the attendees. I leave each meeting feeling that we’ve provided value to the participants even when the conversations may have been difficult.

WBA’s monthly ERG meetings will continue in 2023 and, with the input from the participants, they will be a little more structured so they are meaningful, and bankers know in advance the topics that will primarily be discussed. I encourage you to share this opportunity with anyone in your bank who is in a historically underrepresented group as I know they will find value in the discussion.

For our January meeting, I am very excited to announce that Judge Derek Mosley, director of the Lubar Center for Public Policy Research and Civic Education at Marquette University Law School, will be joining us as our guest speaker. Judge Mosley recently spoke for WBA during a complimentary all-member webinar on Unconscious Bias and was very well-received. He will open the ERG meeting with a presentation on black history, focusing on the Things Your History Teacher Didn’t Tell You followed by time for open Q&A with forum participants.

The January ERG meeting will be held via Zoom on Friday, January 27 from 1:00 – 2:00 p.m. and there is no charge to participate. Please share the following link with your historically underrepresented staff and encourage them to sign up for the meeting: wisbank.com/community/dei/erg-signup/.

If the timing does not work for this meeting, WBA ERGs are held monthly and information regarding future meeting dates and topics is shared through our Wisconsin Banker Daily e-publication. I am incredibly proud of all the work WBA has been doing with guidance from our Board of Directors in the DEI space, and very excited about the mission of WBA’s ERG to date. With your encouragement to your staff to take advantage of this opportunity, I look forward to its continued growth and success this year!

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Executive Letter: Opportunities to Advocate This Spring

Rose Oswald PoelsBy Rose Oswald Poels

With the transition into the new year, so too begins the 2023–24 legislative session. As the Wisconsin Bankers Association (WBA) looks ahead to further engaging with our elected officials and acting on several key priorities including credit unions, regulatory modernization, and elder fraud in 2023, WBA members are also encouraged to make the most of the various opportunities offered by the Association to make their voices heard.

This spring, bankers from across the state are invited to join the WBA Government Relations team in Madison for the 2023 WBA Capitol Day as well as two WBA Washington Trips to meet with our congressional delegation — one in conjunction with the American Bankers Association (ABA) Washington Summit and the other in conjunction with the Independent Community Bankers of America (ICBA) Capital Summit.

Our 2023 Capitol Day, which will be held on Thursday, May 11, provides Wisconsin bankers with the invaluable opportunity to meet face-to-face with their representatives and demonstrate how public policy impacts a bank’s ability to aid in the economic growth and vitality of their community.

Annually, over 100 bankers and WBA Advocacy Officers are in attendance to receive updates from state Assembly and Senate leaders as well as assist the Association in conveying the role and value of our industry. Registration is open now, and more information will be provided for attendees as the event nears.

Additionally, the WBA will be in Washington, D.C. March 20–22 (bankers are encouraged to schedule late flights on the 22nd or stay until the 23rd given the House Republican schedule that week) for the WBA/ABA Washington Summit as well as May 14–17 for the WBA/ICBA Capital Summit. During these two trips, bankers can expect to hear from a variety of speakers as well as make trips to Capitol Hill to visit with those in our congressional delegation. Please note that during the WBA/ABA Washington Summit, Hill visits will likely occur both on March 21 and through mid-afternoon on Wednesday, March 22 given that the House Republicans will not be in office until Wednesday of that week.

All WBA members, regardless of their membership to either national trade group, are welcome and invited to join WBA’s Washington Trip on either date. Please let WBA know if you are interested in attending one of these two key summits at your earliest convenience. You may register now for the WBA/ABA Washington Summit.

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. Although 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 reinforcing the impact legislative proposals will have on your community, bank, and industry.

Thank you for your continued grassroots involvement for the betterment of the banking industry, and 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.

2023 WBA Capitol Day WBA/ABA Washington Summit WBA/ICBA Capital Summit (Opening Soon!)
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Executive Letter: 2023 Brings Adjusted Regulatory Thresholds

Rose Oswald PoelsBy Rose Oswald Poels

Happy New Year! As we step into 2023, there are several thresholds which have been adjusted by both state and federal regulators which go into effect now that the new year has arrived. Below is a collection of thresholds effective January 1, 2023, including a link to pull each publication for reference.

  • Based upon the annual percentage increase in the CPI-W as of 06/01/2022, the exemption threshold for Regulation Z (Truth in Lending Act) will increase to $66,400, up from $61,000.
  • Based upon the annual percentage increase in the CPI-W as of 01/01/2022, the exemption threshold for Regulation M (Consumer Leasing Act) will increase to $66,400, up from $61,000.
  • Based on the CPI-W in effect as of 06/01/2022, the exemption threshold under Regulation Z for HPML appraisals will increase to $31,000, up from $28,500.
  • Based on the 8.6 percent increase in the average of the CPI-W for the 12-month period ending in November 2022, the asset-size threshold to be exempt from collecting HMDA data in 2023 is adjusted to $54 million, up from $50 million.
  • The dollar amount of the maximum allowable charge for disclosures by a consumer reporting agency (CRA) to a consumer pursuant to FCRA section 609 for the 2023 calendar year is $14.50.
  • The asset-size threshold which exempts creditors from the requirement to establish an escrow account for HPMLs will be:
    • For creditors and their affiliates that regularly extended covered transactions secured by first liens, the asset-size threshold is adjusted to $2.537 billion, up from $2.336 billion; and
    • The exemption threshold for certain insured depository institutions with assets of $10 billion or less is adjusted to $11.374 billion, up from $10.473 billion.
  • Based on the CPI-W in effect as of 06/01/2022, the dollar amount thresholds for HOEPA and QM-related loans have been adjusted as follows:
    • For HOEPA loans, the adjusted total loan amount threshold for high-cost mortgages will be $24,866.
    • The adjusted points-and-fees dollar trigger for high-cost mortgages will be $1,243.
    • For QMs under the General QM loan definition in § 1026.43(e)(2), the thresholds for the spread between the annual percentage rate (APR) and the average prime offer rate (APOR) will be:
      • 2.25 or more percentage points for a first-lien covered transaction with a loan amount greater than or equal to $124,331;
      • 3.5 or more percentage points for a first-lien covered transaction with a loan amount greater than or equal to $74,599 but less than $124,331;
      • 6.5 or more percentage points for a first-lien covered transaction with a loan amount less than $74,599;
      • 6.5 or more percentage points for a first-lien covered transaction secured by a manufactured home with a loan amount less than $124,331;
      • 3.5 or more percentage points for a subordinate-lien covered transaction with a loan amount greater than or equal to $74,599; or
      • 6.5 or more percentage points for a subordinate-lien covered transaction with a loan amount less than $74,599.
    • For all categories of QMs, the thresholds for total points and fees will be:
      • 3 percent of the total loan amount for a loan greater than or equal to $124,331;
      • $3,730 for a loan amount greater than or equal to $74,599 but less than $124,331;
      • 5 percent of the total loan amount for a loan greater than or equal to $24,866 but less than $74,599;
      • $1,243 for a loan amount greater than or equal to $15,541 but less than $24,866; and
      • 8 percent of the total loan amount for a loan amount less than $15,541.
  • For open-end consumer credit plans under TILA, the threshold that triggers requirements to disclose minimum interest charges will remain unchanged at $1.00.
  • Based upon the CPI-W, the CRA regulation has adjusted the asset-size thresholds used to define “small bank” and “intermediate small bank” to be:
    • Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.503 billion.
    • Intermediate small bank means a small bank with assets of at least $376 million as of December 31 of both of the prior two calendar years and less than $1.503 billion as of December 31 of either of the prior two calendar years
  • The DFI has established the interest rate that must be paid on required escrow accounts under section 138.052(5) of the Wisconsin Statutes. The new rate is 0.11%.
  • The FDIC Designated Reserve Ratio remains 2 percent for 2023.
  • The OCC assessment rates are reduced for the general assessment fee schedule. OCC has maintained assessment rates from 2022 for the independent trust and independent credit card fee schedules. Also, there is no inflation adjustment to assessment rates.
  • Contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $22,500, up from $20,500. The limit on annual contributions to an IRA increased to $6,500, up from $6,000.
  • Multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $75 billion for each enterprise, for a combined total of $150 billion. The caps reflect an anticipated contraction of the multifamily originations market this year. FHFA will require that at least 50 percent of Fannie’s and Freddie’s multifamily business be mission-driven affordable housing.
  • The conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac in 2023 for one-unit properties will be $726,200, an increase from $647,200.
  • New loan limits for FHA’s Single Family Title II Forward and Home Equity Conversion Mortgage (HECM) insurance programs, based upon property size and location, range from $472,030 to $3,142,800.

I am looking forward to this new year and excited about what 2023 may bring. Be sure to stay connected with WBA through our various releases and publications, and through our social media channels.

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Executive Letter: Technical Amendment Lowers Closed-End Mortgage Loan HMDA Reporting Threshold

Rose Oswald PoelsBy Rose Oswald Poels

As I first reported in the November 1 Executive Letter, a recent court case resulted in the lowering of the reporting threshold for close-end mortgage loans under HMDA. I wanted to alert you to a technical amendment recently issued by CFPB to Regulation C. The technical amendment followed a previously issued blog post by CFPB. The amendment is effective December 21, 2022.

Summary

In April 2020, CFPB issued a final rule (2020 HMDA Rule) to amend Regulation C to increase the threshold for reporting data about closed-end mortgage loans. The 2020 HMDA Rule increased the closed-end mortgage loan reporting threshold from 25 loans to 100 loans in each of the two preceding calendar years, effective July 1, 2020.

On September 23, 2022, the United States District Court for the District of Columbia vacated the 2020 HMDA Rule as to the increased loan-volume reporting threshold for closed-end mortgage loans. As a result of the September 23, 2022 order, the threshold for reporting data about closed-end mortgage loans is 25, the threshold established by the 2015 HMDA Rule. Accordingly, the technical amendment updates the Code of Federal Regulations to reflect the closed-end mortgage loan reporting threshold of 25 mortgage loans in each of the two preceding calendar years.

Background

HMDA requires certain banks, savings associations, credit unions, and for-profit non-depository institutions to collect, report, and disclose data about originations and purchases of mortgage loans, as well as mortgage loan applications that do not result in originations (for example, applications that are denied or withdrawn). CFPB’s Regulation C, 12 CFR part 1003, implements HMDA, 12 U.S.C. 2801 through 2810.

In October 2015, CFPB issued a final rule (2015 HMDA Rule) that, among other things, established institutional and transactional loan-volume coverage thresholds in Regulation C that determine whether financial institutions are required to report certain HMDA data on closed-end mortgage loans or open-end lines of credit. The thresholds apply uniformly to covered depository and non-depository institutions; they took effect for depository institutions on January 1, 2017, and for non-depository institutions on January 1, 2018. The loan-volume thresholds in the 2015 HMDA Rule required an institution that originated at least 25 closed-end mortgage loans or at least 100 open-end lines of credit in each of the two preceding calendar years to report HMDA data, provided that the institution meets all other criteria for institutional coverage.

In April 2020, CFPB issued a final rule (2020 HMDA Rule) to amend Regulation C to increase the thresholds for reporting data on both closed-end mortgage loans and open-end lines of credit. In particular, the 2020 HMDA Rule set the closed-end mortgage loan reporting threshold at 100 in each of the two preceding calendar years, effective July 1, 2020, and the open-end line of credit reporting threshold at 200 in each of the two preceding calendar years, effective January 1, 2022.

On July 30, 2020, five nonprofit organizations and the City of Toledo, Ohio, initiated a lawsuit challenging the 2020 HMDA Rule. On September 23, 2022, the United States District Court for the District of Columbia concluded that the 2020 HMDA Rule’s increased reporting threshold for closed-end mortgage loans was arbitrary and capricious. The court issued an order vacating and remanding the loan-volume reporting threshold for closed-end mortgage loans under the 2020 HMDA Rule. Accordingly, the threshold for reporting data about closed-end mortgage loans is 25 in each of the two preceding calendar years, which is the threshold set by the 2015 HMDA Rule.

The technical amendment reflects the vacatur in the Code of Federal Regulations by replacing the closed-end reporting threshold numbers in Regulation C sections 1003.2(g)(1)(v)(A), (2)(ii)(A), and 1003.3(c)(11) as well as comments 2(g)–5 and 3(c)(11)–2 which became effective on June 30, 2020; and replacing in their entirety, comments 2(g)–1 and 3(c)(11)–1 with the versions in effect on June 30, 2020.

Separate CFPB Statement

On December 6, 2022, a blog post appeared on CFPB’s website regarding the change to HMDA’s closed-end reporting threshold as a result of the court case. In that post, CFPB stated:

“The CFPB recognizes that financial institutions affected by this change may need time to implement or adjust policies, procedures, systems, and operations to come into compliance with their reporting obligations. In these limited circumstances, in allocating the CFPB’s enforcement and supervisory resources, the CFPB does not view action regarding these institutions’ HMDA data as a priority. Thus, the CFPB does not intend to initiate enforcement actions or cite HMDA violations for failures to report closed-end mortgage loan data collected in 2022, 2021, or 2020 for institutions subject to the CFPB’s enforcement or supervisory jurisdiction that meet Regulation C’s other coverage requirements and originated at least 25 closed-end mortgage loans in each of the two preceding calendar years but fewer than 100 closed-end mortgage loans in either or both of the two preceding calendar years.”

Unfortunately, the blog post did not offer further guidance to first assist small banks with how best to proceed given the new lower threshold. No other banking regulator has issued guidance as a result of the court case or CFPB’s releases. Given the impact of the court case and technical amendment to Regulation C, I recommend that banks which meet the 25 closed-end mortgage loan threshold for 2021 and 2022 should look to collect and report closed-end mortgage loan HMDA data for 2023. The exemption threshold for open-end lines of credit remains untouched at 200 open-end lines of credit originated in each of the prior two years.

View the Technical Amendments View the Blog Post
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Executive Letter: Society of Bank Executives Officially Launches in 2023

Rose Oswald PoelsBy Rose Oswald Poels

As I’ve shared in previous e-publications, the Wisconsin Bankers Association (WBA) is a partner in the newly created Society of Bank Executives. The initiative aims to provide bank leaders with opportunities to network and further develop the skills necessary for staying ahead of our ever-changing industry. With the new year quickly approaching and official membership beginning this spring, now’s the time for bank leaders across the state to make a resolution to continue developing their own personal key leadership skills.

This past fall, bankers around the U.S. were invited to join a pre-launch session focused on the challenges related to “Trust and Team Building.” Ultimately, over 120 bankers from across 13 states, including several from Wisconsin, were provided with the opportunity to get a head start with the Society and gain invaluable connections with banking peers while also focusing on their own professional development.

Officially, the Society is set to launch in January 2023, so now’s the time to take full advantage of accelerated leadership programming uniquely targeted at executive–level bankers.

In the new year, Society members can expect two four-month programs focusing specifically on issues developing professional and personal skills. The spring 2023 session will assist bank leaders in developing, enhancing, and nurturing the culture of their bank. With talent attraction and retention becoming a key priority for business leaders across the state, this session is sure to provide the knowledge and action items WBA members can put into practice within their bank.

The second development session, to be hosted in the fall of 2023, will focus on strategy and helping bank executives build internal processes and structures for future success.

I encourage all WBA-member banks to take this unique opportunity to register an individual or team from your bank to access the unique resources offered by the Society. The WBA’s commitment remains firm in ensuring every WBA member has access to the education and training to prosper, the Society’s distinctive ability to cross markets and connect bankers throughout the country is unlike any other leadership seminar.

Between the three 60–90-minute self-paced seminars that are available on demand and one in-person networking retreat per session, bankers are sure to find value in every event. To learn more about the Society and to join, please visit executives.bank/home. Please also note that a discount of 25% for the first two years is available through December 31, 2022.

Become a Society Member

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Executive Letter: Ending the Year With a Bang

Rose Oswald PoelsBy Rose Oswald Poels

With the end of 2022 right around the corner, I am requesting you to consider making one last donation (for this year) to help us achieve our advocacy goal. As I wrote in the November 8 Executive Letter e-publication, fundraising is a critical component in our Association’s mission of advocating for our industry and ensuring that the public and our elected leaders understand the issues banks across our state face.

This year, the WBA has a goal of raising over $300,000 for our two primary political accounts: Wisbankpac, our registered political action committee and the Alliance of Bankers for Wisconsin (ABW), our state conduit. All money raised through these efforts goes directly to support pro-banking and pro-business candidates and issues. With two weeks left until the end of the year, WBA is just $30,000 away from reaching this year’s goal!

How You Can Get Involved
As we all are well aware, supporting the well-being of our industry as a whole is not something we can accomplish alone. With your involvement, not only will we reach our goal, but it will help WBA to continue to play an important role in moving our industry’s issues forward.

There are several ways you may choose to engage with WBA’s fundraising efforts yet this year.

Silver Triangle
WBA’s Silver Triangle recognizes individual bankers who personally contribute at least $500 to any combination of Wisbankpac, ABW conduit, or the issue advocacy fund.

Gold Triangle
WBA’s Gold Triangle is the highest level of fundraising recognition for banks and achieved through bank employee or director personal contributions to Wisbankpac, or ABW conduit, or corporate contributions to WBA’s issue advocacy fund. Based on bank asset size, qualifying contributions range from $500 to $4,500 across the entire institution.

Beyond fundraising, becoming involved in WBA’s overall advocacy efforts is another critical way to support our industry.

Bankers Involved in Grassroots and Government (BIGG)
WBA’s BIGG Award expands beyond Gold Triangle fundraising to encompass grassroots advocacy engagement and serves as the Association’s highest level of recognition for overall advocacy. In addition to assisting WBA advance the industry’s legislative priorities and promote pro-banking issues to the public, BIGG Award winners receive extensive recognition for their efforts in advocating for our industry.

In order to qualify for the BIGG recognition, banks must meet at least 5 of 7 criteria which include naming an advocacy officer, obtaining Gold Triangle status, contributing to WBA’s issue advocacy fund, sending one employee (at least) to WBA’s annual Capitol Day, participating in a Federal delegation meeting or regulatory trip, hosting a Take Your Legislator to Work event, or other advocacy-related activity.

Thank you very much for your past active involvement in our Association’s advocacy initiatives to support the well-being of our industry. There are just two weeks left in this calendar year to help us achieve our fundraising goal, and to ensure that your bank is recognized for the outstanding work you did in 2022 to promote pro-banking and pro-business initiatives. Make your final contributions today at wisbank.com/give. If you are interested in learning more about WBA’s annual fundraising campaign, how you can get involved, or if your bank qualifies for recognition, please contact Lorenzo Cruz.

Make A Contribution

Thank you to the 51 banks that have already succeeded in achieving WBA’s Gold Triangle status this year:

  • American National Bank – Fox Cities, Appleton
  • Associated Bank, Green Bay
  • Badger Bank, Fort Atkinson
  • Bank Five Nine, Oconomowoc
  • Bank of Brodhead
  • Bank of Luxemburg
  • Bank of Sun Prairie
  • Bank of Wisconsin Dells
  • Bankers’ Bank, Madison
  • Bluff View Bank, Galesville
  • Black River Country Bank, Black River Falls
  • BLC Community Bank, Little Chute
  • Bristol Morgan Bank, Oakfield
  • Capitol Bank, Madison
  • Charter Bank, Eau Claire
  • Citizens Bank, Mukwonago
  • Citizens First Bank, Viroqua
  • Citizens State Bank of Loyal
  • Coulee Bank, La Crosse
  • East Wisconsin Savings Bank, Kaukauna
  • The Equitable Bank, Wauwatosa
  • Farmers State Bank, Hillsboro
  • Farmers State Bank of Waupaca
  • First Business Bank, Madison
  • First Citizen State Bank, Whitewater
  • First National Community Bank, New Richmond
  • Forward Bank, Marshfield
  • Forte Bank, Hartford
  • Fortifi Bank, Berlin
  • Greenwood’s State Bank, Lake Mills
  • Horicon Bank
  • Mound City Bank, Platteville
  • National Bank of Commerce, Superior
  • National Exchange Bank and Trust, Fond du Lac
  • Nicolet National Bank, Green Bay
  • North Shore Bank, Brookfield
  • Oak Bank, Fitchburg
  • Old National Bank, Evansville, IN
  • Oostburg State Bank
  • The Park Bank, Madison
  • Partners Bank of Wisconsin, Marshfield
  • Peoples State Bank, Prairie Du Chien
  • The Peoples Community Bank, Mazomanie
  • Premier Community Bank, Marion
  • Security Financial Bank, Durand
  • State Bank of Cross Plains
  • The Stephenson National Bank and Trust, Marinette
  • Superior Savings Bank
  • Town Bank N.A., Hartland
  • Waldo State Bank
  • Wisconsin Bankers Association, Madison
  • Wolf River Community Bank, Hortonville
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Executive Letter: Reflecting on WBA’s 130th Year

Rose Oswald PoelsBy Rose Oswald Poels

In March, WBA marked its 130th anniversary — a monumental accomplishment and result of the indispensable support of and engagement in our Association every day. As another busy holiday season quickly approaches and many of us pause to reflect upon all we are grateful for, I am continually reminded not only of the gratitude I hold for our membership and their active involvement in making our industry healthy and prosperous, but of the WBA staff who work each day to uphold our mission to advocate, educate, and support bankers across Wisconsin.

Since inception, advocacy and professional development have remained fundamental values of WBA, and I am pleased each day to work alongside individuals who take extensive pride in promoting Wisconsin’s banking industry and the financial success of communities across the state.

This year, the WBA Government Relations team, alongside several banker volunteers, stayed busy advocating at the state capitol in Madison as well as in D.C on topics ranging from the expansion of credit union powers to credit card swipe fees. In addition, our team was incredibly active in this year’s election, supporting pro-banking candidates, and informing others of the key issues Wisconsin bankers face.

In addition to staffing the legal call program and assisting members with questions, WBA’s Legal team has played a critical role in keeping our members informed of regulatory and judicial issues important to the banking industry. In the last calendar year, the Legal team has created a variety of new resources including a video series and toolkits that provide bankers with a variety of mediums to receive timely compliance information.

As always, members of our Education department have spent the last year offering a wide range of relevant and high-quality conferences, events, and training opportunities at WBA’s engagement center in Madison and around the state. Our flexible offerings have provided thousands of bankers with invaluable knowledge to further their banking careers as well as opportunities to connect with banking peers. Additionally, WBA continued to offer free DEI-focused member webinars and develop resources including a membership-wide employee resource group (ERG) as part of the Association’s DEI Plan to foster a culture of diversity.

In the last year, the Communications team has continued to improve, update, and polish our new website that launched in October 2021. It is a priority of our Association that resources such as our Best Practice Library and Associate Member Directory are not only easy to navigate but provide relevant and useful information to all bankers. At the request of our members, the team has also developed a range of consumer resources which banks are encouraged to utilize in their own outreach and education of consumers.

Of course, the success of our Association does not stop at the efforts of our team. As a member-driven association, WBA is wholly dependent on the support and engagement of our members and our accomplishments this calendar year would not be without the direct involvement of you!

In the last year, banks across the state have individually demonstrated many achievements. However, I am quite proud that many bankers, in addition to the work they do in their own organization, have volunteered their time and talents in several key ways with WBA. This year, over 100 bankers attended WBA’s annual Capitol Day, around 140 bankers participated in a WBA committee or section, and 130 bankers reported taking part in financial education programming.

Once again, thank you for your continued involvement and support of the WBA. This year’s accomplishments would not have been possible without the valuable input and engagement from each of our members. I wish you all Happy Holidays and look forward to working together with you in the new year!

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Executive Letter: This Giving Tuesday, Give the Gift of Financial Literacy

Rose Oswald PoelsBy Rose Oswald Poels

As a banker, ensuring the financial success and prosperity of your customers and community members is at the heart of what you do, day in and day out. You and your team give back in so many ways, yet we know that we have work left to do. A recent FINRA study showed that:  

  • 37% of Wisconsinites do not have emergency funds,  
  • 27% have used non-bank borrowing methods in the past five years, and  
  • 40% find it somewhat or very difficult to cover expenses and pay bills.  

The Wisconsin Bankers Foundation (WBF) exists because bankers like you care deeply about promoting financial literacy and capability in our state. Please see the Year in Review for an overview of how the Foundation is making an impact.  

Today, on Giving Tuesday, the WBF staff and I invite you to consider a donation to the Foundation. Because of WBF’s public charity status, donations may be tax deductible. Our goal is to raise $70,000 for the 2022–2023 fiscal year, and there are three easy ways for you to join in: 

  • Send a check to the Wisconsin Bankers Foundation, 4721 S. Biltmore Lane, Madison, WI 53718, 
  • Donate online at www.wisbankfoundation.org/donate, and/or 
  • Use the pledge form to donate an item for our silent auction, which will be held online as well as in person at the WBA Bank Executives Conference, February 8–10, 2023. 

Your contribution will enable us to continue to: 

  • Provide Reading Raises Interest Kits to teach the importance of saving money at a young age, 
  • Award scholarships to high school seniors and college students with interests in the banking industry, 
  • Provide comprehensive and comparative data on the banking industry through Banconomics.com, 
  • Honor bankers and industry leaders for their engagement with financial literacy, and 
  • Offer grants to support outstanding nonprofit financial education programs across the state. 

Thank you in advance for considering adding your name to the list of our 2022–2023 supporters. Our collective involvement makes a meaningful difference in the financial wellness of our communities. 

 

Wisconsin Bankers Foundation logo

 

The Wisconsin Bankers Foundation (WBF) is a Wisconsin non-stock corporation organized for charitable and educational purposes. WBF is dedicated to promoting financial literacy and financial responsibility to the public and to broadening consumer empowerment in the financial services industry, primarily through research and education. FEIN 46-3791061

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Executive Letter: Wisconsin Bankers Promote Financial Literacy, Capability

Rose Oswald PoelsBy Rose Oswald Poels

With a long-held tradition of promoting financial literacy and capability to individuals throughout the state, the Wisconsin Bankers Foundation (WBF) — our Association’s nonprofit arm — looks forward each year to recognizing the outstanding efforts of those who continue to make strides in educating members of our communities.

As such, during the annual breakfast program at WBA’s LEAD360 on November 17, several bankers received WBF’s financial literacy awards. This year, 24 bankers and 11 banks were recognized for their remarkable efforts during the 2021–2022 fiscal year.

As the Chair of our Foundation and advocate for Wisconsin bankers and our communities, I am incredibly pleased to honor these individuals and banks for their outstanding achievements and dedication to financial education. I am also very excited to note that this year Wisconsin bankers reached over 10,400 members of their communities!

For the second year in a row, Sue Krause of Fox Valley Savings Bank in Fond du Lac was awarded the Foundation’s most prestigious individual award — the Financial Literacy Banker of the Year Award. This award is presented to the banker who reports the highest number of financial education presentations. This year, Sue was able to do a remarkable 150 presentations in her local community! Thank you, Sue, for your continued commitment to the prosperity of your neighbors.

The Financial Literacy Banker Award, presented to the banker who reports the second-highest number of financial education presentations, was awarded to Joshua Pauling of Farmers State Bank in Waupaca. Josh’s incredible 35 presentations have left a lasting impact on individuals young and old.

Both Sue and Josh, in addition to Jenean Friedl and Paige Hyer of Royal Bank in Elroy and Pam Blattner of Bank of Sun Prairie, were presented with WBF’s Certificate of Excellence Award for achieving 20+ presentations during the fiscal year. Thank you and congratulations to these five dedicated bankers for their incredible accomplishment.

The Foundation also recognized those bankers who give between five and 19 presentations in the fiscal year with a Certificate of Recognition. Thank you to Christine Buckman, Hilari Henke, Deann LaValley, Erik Thompson, and Dawn Whipple of First Bank of Baldwin; Emily Bennig, Rachael Danielson, Katie Dillon, and Tami Miller of First National Bank of River Falls; Kaylee Fellom and Matteson Mahlum of Union State Bank in West Salem; Katlein Detloff of Ladysmith Federal Savings & Loan; Dena Hineline and Pamela Sanderson of Bank of Sun Prairie; Karri Oelke of National Exchange Bank & Trust in Fond du Lac; and Beth Durow, Lisa Hower, Alyssa Manley, and Alicia Schneider of The Stephenson National Bank & Trust in Marinette.

Additionally, congratulations to the 11 banks that were awarded the WBF Excellence in Financial Education Award for their bank-wide dedication to financial literacy. These banks include: Bank of Sun Prairie; Farmers State Bank of Waupaca; First Bank of Baldwin; First National Bank of River Falls; Ladysmith Federal Savings and Loan Association; National Exchange Bank & Trust, Fond du Lac; Premier Community Bank, Marion; PremierBank, Fort Atkinson; The Stephenson National Bank & Trust, Marinette; Union State Bank, West Salem, and Waumandee State Bank.

Thank you, once again, to all the bankers who continue to commit their time and efforts toward improving the financial literacy and capability of individuals throughout our state. If your bank has taken part in any financial education events since June 1, 2022, please do not forget to highlight these efforts at wisbankfoundation.org/financial-education-awards. I also encourage those that have not already to highlight their achievements for the Governor’s Financial Literacy Awards, which are due December 2.

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