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Lending Up 9.6% at State-Chartered Credit Unions in 2015

MADISON - Lending grew by 9.6% at Wisconsin's 150 state-chartered credit unions in 2015 compared to 2014, according to data released today by the Department of Financial Institutions (DFI).

    "2015 was a solid year for Wisconsin's credit unions as they continue to grow in assets, loans, income, and net worth," said Kim Santos, Director of the Office of Credit Unions. "Loan quality also strengthened last year even as lending increased by nearly 10 percent. Overall, the trends are very positive."

The full press release may be found at www.wdfi.org/Newsroom/Press.

DFI Honors Wisconsin Citizens and Organizations with the 2015 Governor's Financial Literacy Award

MADISON - The Department of Financial Institutions honored seven individuals and eight organizations today with the 2015 Governor's Financial Literacy Award for their efforts in promoting financial literacy among Wisconsin citizens.

    The recipients were selected from 32 nominations submitted to the Governor's Council on Financial Literacy for consideration. Criteria used in the process included innovative implementation, measureable results, collaboration with partners, and whether the effort was focused on needs-based groups.

The full press release may be found at www.wdfi.org/Newsroom/Press.

Governor Walker Announces Administrative Appointments

Governor Scott Walker announced Thursday, January 21 that Secretary Ray Allen of the Department of Financial Institutions (DFI) would become the next secretary of the Department of Workforce Development and also announced the appointment of Lon Roberts to become the next secretary of the DFI.

    Ray Allen served at DFI for over 18 years, including four as Deputy Secretary and most recently as Secretary. Allen has extensive experience in state government, also serving as an appointee in the Department of Industry, Labor and Human Relations, Executive Assistant to the Secretary of the Department of Employment Relations, Director of the State Office of Employee Development and Training, and as Executive Director of the Technology for Education Achievement Board. Allen has been active in the Madison area community, serving on many community boards and commissions, and was elected to three terms on the Madison School Board. The Milwaukee native received his Bachelor of Arts degree in Journalism from the University of Wisconsin-Madison and his Master of Science degree in Management from Cardinal Stritch University.

    Lon Roberts retired in December of 2015 as a partner and shareholder with the Ruder Ware law firm in Wausau, Wisconsin, where he served as President and concentrated his practice in business and commercial law, primarily in the areas of corporate mergers and acquisitions, finance, lending, and private equity capital transactions. His extensive community involvement includes his service as President of the Grand Theatre Foundation and past President of the Wausau Region Chamber of Commerce. In addition, he serves on the Wisconsin Law Foundation and has annually received the Best Lawyers in America recognition for Corporate Law and Mergers & Acquisitions Law since 2007. Governor Walker appointed Roberts as Chair of the State of Wisconsin Investment Board (SWIB) in 2012 and committee member of the Judicial Selection Advisory Committee (JSAC) in 2011. He received his Bachelor of Science degree from the University of Wisconsin-Stevens Point and his Juris Doctor from the University of Wisconsin-Madison.

New Business Entity Filings Up 3.6% in 2015

MADISON - The number of new Wisconsin business entities formed in 2015 grew by 3.6 percent compared to 2014, according to data compiled by the Department of Financial Institutions (DFI). As of December 31, 2015, new business filings totaled 40,827, compared to 39,395 in 2014.

The business formation data is compiled by DFI, which is the filing office for the creation of business entities in the state. DFI tracks new business entity creation on a monthly basis and posts the data on its website.

The full report may be found at www.wdfi.org/corporations/HistoricalStatistics.htm.