Jeff Bowman advocates for community banking at Wisconsin Banking Review Board hearing
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The Senate Committee on Financial Institutions and Sporting Heritage convened on December 19, 2023, to discuss key appointments and the ongoing support for community banking and credit unions in Wisconsin. The meeting featured testimonies from several candidates seeking reappointment to various financial boards, emphasizing the importance of local financial institutions in fostering economic growth and community development.
Jeff Bowman, a candidate for the Banking Institutions Review Board, highlighted his 40 years of experience in banking, advocating for the continued support of community banks. He noted that these institutions serve as vital economic engines for local communities, providing essential growth capital to small businesses and facilitating housing and economic development. Bowman stressed the need for resources to help community banks thrive, particularly in underserved areas, and emphasized that customer demand drives the success of these institutions.
Lisa Greco, representing the Credit Union Review Board, expressed her enthusiasm for Wisconsin's credit unions, which she described as unique financial cooperatives focused on member service. Greco shared her commitment to protecting older members from fraud and ensuring the safety and soundness of credit unions across the state. She underscored the importance of maintaining a diverse range of credit unions to meet the varying needs of their members.
Killeen Wogan, another candidate for the Credit Union Review Board, spoke about her extensive experience in the credit union sector and her role in connecting with other credit unions to address their concerns. Wogan emphasized the collaborative nature of the review board, which serves as an advisory body to the Office of Credit Unions, ensuring that the voices of credit unions are heard in legislative discussions.
The committee also received registrations in favor of the candidates from various organizations, including the Wisconsin Bakers Association and the Wisconsin Department of Financial Institutions, indicating broad support for the appointments.
Overall, the meeting underscored the critical role that community banks and credit unions play in Wisconsin's financial landscape, with a strong emphasis on supporting these institutions to enhance economic development and serve the needs of local communities. The committee's discussions will likely influence future legislative efforts aimed at strengthening the state's banking and credit union systems.
Jeff Bowman, a candidate for the Banking Institutions Review Board, highlighted his 40 years of experience in banking, advocating for the continued support of community banks. He noted that these institutions serve as vital economic engines for local communities, providing essential growth capital to small businesses and facilitating housing and economic development. Bowman stressed the need for resources to help community banks thrive, particularly in underserved areas, and emphasized that customer demand drives the success of these institutions.
Lisa Greco, representing the Credit Union Review Board, expressed her enthusiasm for Wisconsin's credit unions, which she described as unique financial cooperatives focused on member service. Greco shared her commitment to protecting older members from fraud and ensuring the safety and soundness of credit unions across the state. She underscored the importance of maintaining a diverse range of credit unions to meet the varying needs of their members.
Killeen Wogan, another candidate for the Credit Union Review Board, spoke about her extensive experience in the credit union sector and her role in connecting with other credit unions to address their concerns. Wogan emphasized the collaborative nature of the review board, which serves as an advisory body to the Office of Credit Unions, ensuring that the voices of credit unions are heard in legislative discussions.
The committee also received registrations in favor of the candidates from various organizations, including the Wisconsin Bakers Association and the Wisconsin Department of Financial Institutions, indicating broad support for the appointments.
Overall, the meeting underscored the critical role that community banks and credit unions play in Wisconsin's financial landscape, with a strong emphasis on supporting these institutions to enhance economic development and serve the needs of local communities. The committee's discussions will likely influence future legislative efforts aimed at strengthening the state's banking and credit union systems.
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