Tag Archive for: Wisconsin Bankers Foundation

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Association Update: Economic Resources Available to All Bankers

By Daryll Lund

As the last several years have proven — it can be difficult to predict exactly what the year ahead has in store. Between rising inflation, growing mortgage rates, and consumer uncertainty, communities throughout Wisconsin are looking to their local bankers for guidance and tools to prepare.

In an effort to stay one step ahead, educated, and ready to assist when called upon, it is critical that all bankers continue to lean on their peers and industry experts for reliable information and outlooks. Events such as the annual Midwest Economic Forecast Forum — presented by the Wisconsin Bankers Association (WBA) in partnership with other state banking associations — provides bankers just the setting to become acquainted with tomorrow’s economic predictions.

This year’s virtual forum will feature James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, and Augustine (Gus) Faucher, chief economist at the PNC Financial Services Group. During the two-and-half- hour event, the two experts will discuss their economic insights and expectations for 2023 and beyond specifically for bankers of all levels, board members, and business clients.

Additionally, WBA’s charitable arm — the Wisconsin Bankers Foundation (WBF) — provides quarterly economic updates specifically tailored to Wisconsin bankers on banconomics.com. Compiled by UFS, Banconomics features essential economic data, research, and reports community bankers can utilize to support public and private decision-making. These quarterly reports are designed to be shared with staff, bank directors, and shareholders to assist the bank in tracking benchmarks and creating peer comparisons — undoubtedly a valuable tool to remain informed on our industry throughout the year.

While uncertainty in our daily lives remains ever present, there is no shortage of tools for bankers to gain valuable insights on economic changes as they occur. Our Association is committed to ensuring bankers in Wisconsin and throughout the Midwest not only have access to the knowledge and resources best suited to guide our community members, but for the continued prosperity throughout our industry.

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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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Executive Letter: Ensuring Financial Success for Wisconsinites

Rose Oswald PoelsBy Rose Oswald Poels

Ensuring the financial success and prosperity of our community members is at the heart of the banking industry. Recently, the FINRA Investor Education Foundation released its National Financial Capability Study results, providing insights into the financial capability of U.S. adults. The findings are a helpful resource in understanding the financial circumstances of households in Wisconsin compared to the region and nation.

The summary of FINRA’s findings — split into specific sections such as making ends meet, planning ahead, managing financial products, and financial knowledge — underscore a few of the most important areas relating to financial literacy. Conducted June through October 2021, the results show that Wisconsinites stand ahead of the rest of the U.S. in many critical areas such as having emergency funds, a savings account, and a plan for their future.

  • 52% of Wisconsin residents spend equal to or more than their income (compared to 53% in USA)

  • 37% of Wisconsin residents do not have emergency money of three months of income (compared to 43% in USA)

  • 27% of state residents have engaged in some form of high-cost, non-bank borrowing during the last five years (compared to 32% in USA)

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Bankers play an important role in outreach efforts in your communities to equip consumers young and old with the knowledge and resources needed to achieve financial stability and prosperity.

In countless ways, Wisconsin bankers do so much to promote financially healthy communities. To support you in this work, the Wisconsin Bankers Foundation (WBF) serves as the hub for all things financial literacy. Annually, Wisconsin bankers venture into schools as part of Teach Children to Save Day in April using WBF’s Reading Raises Interest Kits. In addition, the Foundation is actively working to curate relevant resources bankers can use with people of all ages and levels of financial experience — please wisbankfoundation.org/resources to view what we have available now.

As a reminder, the 2022–2023 Financial Education Summary Forms are now open. Not only does the Foundation assist Wisconsin bankers in providing resources for all consumers, but we also celebrate these important contributions you make each day to our state. If your bank employees participate in any financial education-related event from June 1, 2022 through May 31, 2023, please submit a form as you go to record your activity. Questions related to WBF and resources available for your bank can be directed to Hannah Flanders, WBF coordinator.

Bankers should also be aware of programs such as America Saves, Wisconsin Saves, and ELEVATE Wisconsin that can be implemented in the office, shared with business customers, and members of the community.

  • America Saves: Accessible online guidance, best practices, and goals consumers can pledge themselves to.
  • ELEVATE Wisconsin: An online wellness program providing interactive, effective, and unbiased instruction in personal finance and investing fundamentals to Wisconsin employees.
  • Wisconsin Saves: Small- and medium-sized employers can promote to their employees the ease and benefits of saving automatically for emergencies through split deposit.

Thank you to every bank that assists our industry in continuing its commitment to serving and educating members our communities. Time and time again, data such as FINRA’s National Financial Capability Study reminds us of the strength in our industry — where we’ve come from and where we have yet to go.

*Graphs provided by the Wisconsin Department of Financial Institutions (DFI) based on information provided by the FINRA Investor Education Foundation National Financial Capability Survey.

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Executive Letter: Investing in Our Future

Rose Oswald PoelsBy Rose Oswald Poels

When WBA’s charitable arm, the Wisconsin Bankers Foundation (WBF), was founded in 2015, education remained a top priority to aid the public in increasing their financial literacy and responsibility.

As part of this, the Foundation is proud to offer well-known programs such as Reading Raises Interest Kits that assist bankers in coordinating curriculum used during Teach Children to Save Day in April and scholarships awarded to students throughout the state for their demonstration of excellent financial capabilities. Involvement in these programs brings the Foundation one step closer to ensuring the financial knowledge and responsibility of every youth in our state.

Now through November 15, the Foundation will be accepting applications for the third annual Agricultural Banking Scholarship!

Students who will be enrolled in an accredited Wisconsin college, university, or technical college during the Spring of 2023 and are pursuing a career related to agricultural banking are encouraged to apply.

With agriculture serving as one of Wisconsin’s largest economic drivers, it is critical that we invest now in the students that are interested in driving this critical sector of our state.

The Foundation is also excited to announce this year’s Agricultural Banking Scholarship award has been increased to $1,500 each for the two qualified winners in order to help combat rising tuition costs, assist individuals in reaching their goals, and promote financial literacy in every consumer.

I encourage you to share this exciting opportunity widely within your networks — current and past ag interns, parents of college-aged children, and educators at the many ag programs throughout the state. By aiding us in spreading the word to qualified students, you play a significant part in assisting the Foundation to serve its mission as well as provide new opportunities for your community!

Please visit wisbankfoundation.org/scholarships to learn more or contact WBF’s Foundation Coordinator Hannah Flanders with any questions.

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Executive Letter: Inspiring a New Generation of Money-Smart Youth

Rose Oswald PoelsBy Rose Oswald Poels

As students around the state head back to school, the importance of ensuring every individual has access to high quality financial education and resources to improve their financial literacy continues to ring true. The Wisconsin Bankers Foundation (WBF) has served since 2015 as the hub for Wisconsin bankers when looking to provide resources, including Reading Raises Interest Kits each spring, to communities across Wisconsin.

As the Foundation continues to grow, we are happy to provide small grants to Wisconsin nonprofit organizations that align with our mission of improving the financial capability of our communities.

WBF recently awarded a second $5,000 grant to Asset Builders, a Wisconsin nonprofit organization, in support of its Finance and Investment Challenge Bowl, a quiz bowl competition geared towards high school students on subjects such as personal finance, economics, business, and marketing. The program aligns with Wisconsin’s statewide learning standards and is an effective strategy to complement what students are learning in the classroom.

The Challenge Bowl serves as an exciting and interactive supplement that educators across the state year after year sign up and accompany students to participate in. As students work in small groups to prove their mastery of finance-related knowledge against their peers, they also have a unique opportunity to interact with local banking and financial services professionals, who serve as quizmasters and competition judges.

For the 2022–2023 school year, the Finance and Investment Challenge Bowl tournament now has 12 regional competitions — reaching students in every corner of the state — and concludes with the state championship in Madison in May. These in-person tournaments are lively and immersive for students and volunteers alike. As the Challenge Bowl continues to expand to reach more students, I highly encourage bankers to volunteer not only to keep this value-adding program as high quality as possible, but as an opportunity to connect the banking industry with hundreds of passionate students. This type of engagement demonstrates our industry’s involvement in these critical efforts to keep our community members financially savvy. If you or any member of your staff is interested in a fun and rewarding service experience, please contact Cassie Krause, WBF’s executive director, or me.

In addition to volunteering for one of the many Finance and Investment Challenge Bowl tournaments across Wisconsin, please also consider making a tax-deductible donation to the Wisconsin Bankers Foundation. Contributions made to the 501(c)3 nonprofit organization support financial education in communities across our state. Thank you for your continued support of not only the Foundation, but of programs such as the Finance and Investment Challenge Bowl that offer engaging educational opportunities to Wisconsinites.

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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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Executive Letter: Highlight Your Financial Education Efforts

Rose Oswald PoelsFrom the Desk of Rose Oswald Poels

Every day, bankers throughout the state make remarkable efforts to assist their neighbors in building a solid financial future. This tradition often goes above and beyond the normal role of bankers — taking them into classrooms or community centers — and has proved time and time again the value of the connections formed by community bankers in assisting Wisconsinites of all ages to gain important financial education. Our industry does not get enough recognition for all it does since bankers are often quick to deflect attention and praise to others.

This article serves as a reminder of the various recognition and awards that you — individually and as a bank — may apply for. I encourage all of you to take the time to apply and be recognized for the dedicated and often creative work you do to improve financial education.

Individual Financial Education Efforts

The Wisconsin Bankers Foundation (WBF) recognizes individual bankers for their financial literacy efforts throughout its fiscal year. Bankers are able to submit summary forms recognizing each presentation, visit, or volunteer time spent with classrooms and community members focused on increasing financial literacy. WBF compiles total numbers of presentations and/or outreach events and awards bankers based on these totals. I highly encourage bankers to submit their forms reflecting their individual efforts in financial education from June 1, 2021 to May 31, 2022 by the July 31 deadline. To begin submitting your summary forms, visit www.smr.to/p80094. These awards are presented in the fall at WBA’s Lead360 Conference.

 

Bank-Wide Financial Education Efforts

WBF also recognizes banks as institutions for the aggregate time spent by employees during the period from June 1, 2021 through May 31, 2022 on financial education efforts. Since this award is based on the aggregate time spent by each bank on financial education initiatives, several banks may win this award. In addition, a bank may also submit an application for WBF’s most prestigious award, the Financial Education Innovation Award. This award recognizes only one member bank for its innovative approach to financial education. To learn more about WBF’s bank-wide awards or submit the summary form by July 31, visit www.smr.to/p77960.

WBF’s Bank Award

The Bank Award compiles the various financial education efforts put forth by the whole bank and showcases the tremendous work done by all employees. This award is presented in the fall at WBA’s Lead360 Conference.

WBF’s Financial Education Innovation Award

The Financial Education Innovation Award recognizes one bank for adopting an innovative, creative, and/or unique approach to financial education annually. Now presented at WBA’s Bank Executives Conference in February, this well-deserved honor recognizes a bank’s innovative approach to financial education.

 

2022 Governor’s Financial Literacy Awards

In addition to submitting a summary of financial education activities and efforts to WBF for recognition, I highly encourage bankers around the state to also consider applying for one of three categories of the 2022 Governor’s Financial Literacy Awards.

Recipients are selected by a subcommittee of the Governor’s Council on Financial Literacy and Capability based on their excellence in increasing financial literacy, capability, and inclusion among Wisconsin residents. I am proud to be a member of this Governor’s Council but have noted that in the past few years very few banks have been applying for this recognition all the while credit unions are applying. The awards highlight individuals, businesses/organizations, and legacy efforts throughout the state to improve financial education.

I highly encourage banks to share their financial education efforts by submitting the 2022 Governor’s Financial Literacy nomination form by the December 2 deadline for the chance to be recognized for the outstanding work bankers engage in every day. The nomination forms are now available, so do not wait until later this year to submit your bank’s nomination.

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High School Students Compete in Finance and Investment Challenge Bowl State Tournament

Students from the West Salem “Pink Panthers” test out their buzzers at the Finance and Investment Challenge Bowl State Tournament, hosted by the Wisconsin Department of Financial Institutions.

The Finance and Investment Challenge Bowl tournament for high school students across Wisconsin culminated in the state championship on Wednesday, May 18. The tournament is organized by the nonprofit organization Asset Builders and championship sponsors included the Wisconsin Bankers Foundation, Associated Bank, Huntington Bank, Old National Bank, and U.S. Bank.

Thank you to the WBA-member bankers who volunteered as quizmasters, scorekeepers, and judges at the championship tournament: Colin Brown, U.S. Bank; Lynn Boelter, First Federal Bank; Melissa Castillo, Monona Bank; Donna Cotter, Old National Bank; Leann Eddingsaas, First Federal Bank; and Matt Moore, U.S. Bank.

The Challenge Bowl is an opportunity for students to build upon their classroom learning in finance and economics in a fun and engaging environment. The spirit of friendly competition was evident as the teams competed for trophies and prizes.

Congratulations to this year’s winners (and their teachers):

  • First place – State Champion: Sun Prairie (Kurt Nickelsburg)
  • Second-place: Monroe (Erin Speth)
  • Final Four teams: Nicolet (Dan Schramka) and Monroe
  • Consolation Champion: Green Bay East (Scott Christy), with Stevens Point (Mike Olson) coming in second
  • Crowdpurr individual competition: students from Rhinelander (Patrick Kubeny), Milton (Nick Manogue), and Middleton (Shane Leadholm) finished in the top four spots.

Look for more information in the Wisconsin Banker Daily this fall on how to get involved with a regional tournament in your area.

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questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

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