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Administrators named for DFI's Divisions of Banking, Securities

MADISON - Administrators for the Divisions of Banking and Securities have been named at the Department of Financial Institutions, Secretary Lon E. Roberts has announced. Cheryll Olson-Collins has been appointed Administrator of the Division of Banking, while Leslie Van Buskirk has been appointed to the top position in the Division of Securities.

"Leslie and Cheryll both are well respected and possess a wealth of knowledge about their industries," Roberts said. "I am confident they will do a great job of leading their respective divisions to help keep Wisconsin's financial institutions safe and sound and protect consumers of financial products.

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

Monroe High School prevails in state Finance and Investment Challenge Bowl

Monroe High School defeated Sauk Prairie High School, 170-165, to win the Finance and Investment Challenge Bowl State Championship in Milwaukee on April 27, 2016. The outcome of the contest came down to the final question. It was the first appearance in the state title match for either school. Teams from DePere and Rhinelander rounded out the final four.

The Finance and Investment Challenge Bowl is a financial literacy program for high school students, teaching a wide range of financial literacy topics that align with Wisconsin's Model Academic Standards for Personal Finance as well as the Jumpstart National Standards. The FICB culminates in a live, college-bowl tournament where teams compete to determine regional champions. This year more than 600 students competed in seven regional meets held across the state. The Wisconsin Department of Financial Institutions (DFI) is a sponsor of FICB. More information can be found at http://www.ficbonline.org/.

Pictured above, left to right, are: David Mancl, Executive Director of DFI's Office of Financial Literacy; Richard Entenmann, President of Asset Builders of America; and members of Monroe team: Silas Setterstrom; Sam Nicholson; Jack Sabatke; Bishop Yoder; teacher Sherri Hendrickson; and Dominick Curtiss.

New business entity filings tracking 3.5% ahead of prior year

MADISON - The number of new business entities formed in Wisconsin in the first four months of 2016 grew by 3.5% compared to same period in 2015, according to data compiled by the Department of Financial Institutions (DFI). As of April 30, 2016, new business filings totaled 15,179 compared to 14,669 in the same period in 2015.

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.

Registration open for financial education training for teachers

Madison - Registrations are still being accepted for the National Institute of Financial and Economic Literacy (NIFEL) educator training at Edgewood College in Madison this summer. Three separate sessions of the NIFEL training are scheduled for educators who want to broaden their skills to teach personal finance in their schools or communities.

The three sessions are:

  • June 20-24 - Investor Education, Economics and Insurance
  • June 27-July 1 - Paychecks, Financial Contracts and Entrepreneurship
  • July 6-8 - Credit and Money

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

Lending, net income on the rise at state-chartered credit unions

Madison - Lending increased by 10.2% and net income rose 6.5% at Wisconsin's 144 state-chartered credit unions in the first quarter of 2016 compared to the prior year, according to data released today by the Department of Financial Institutions (DFI).

In the quarter ending March 31, 2016:

  • Total loans were $22.5 billion, up from $20.4 billion in the first quarter of 2015.
  • Net income totaled $72.3 million, up from $67.8 million.
  • Net worth improved to 10.88%, up from 10.74%.
  • The delinquent loan ratio was 0.68%, down from 0.79%.

The full press release may be found at www.wdfi.org/Newsroom/Press. A full report on credit unions' 2016 first-quarter performance will be available on the Credit Union Financial Data page, by the end of May.

DFI Secretary participates in Belleville 'Big Read'

BELLEVILLE - DFI Secretary Lon Roberts and Assistant Deputy Secretary Alex Ignatowski participated in a "Big Read" event at Belleville schools on April 28, 2016. "The Big Read" is a statewide event for children in grades PreK-4 held during Money Smart Week Wisconsin, which was celebrated April 23-30. At dozens of locations across the state, adults read "Start Saving, Henry!" by Nancy Carlson to students.

Also participating in the event was William Wilcox, who is chair of the Governor's Council on Financial Literacy, and his wife, Julie. Pictured above, left to right, are: Alex Ignatowski; William Wilcox; Julie Wilcox; Belleville Superintendent Pam Yoder; and Secretary Roberts.