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Thousands benefited from events
during Money Smart Week Wisconsin

MADISON - Thousands of Wisconsin residents throughout the state benefited from hundreds of free programs and workshops held during the recently completed Money Smart Week Wisconsin. The annual event, held this year from April 22-29, is a highlight of National Financial Literacy Awareness Month, a collaborative effort by state and federal agencies and private-sector groups to raise awareness about the importance of financial literacy. In 2006, Wisconsin was the first state in the nation to conduct a statewide Money Smart Week, which was launched by the Federal Reserve Bank of Chicago in 2002.

"I'd like to thank Governor Walker's Council on Financial Literacy, Wisconsin's business community and dozens of other private-sector organizations for their participation in Money Smart Week Wisconsin and for their year-round support of financial literacy awareness efforts statewide," said Jay Risch, Secretary of the Department of Financial Institutions (DFI). "I was pleased to be able to participate in Money Smart Week events in Fond du Lac and Belleville and witness first-hand the positive impact these efforts have on our citizens."

See the full press release here.

Net income, lending on rise
for state-chartered credit unions

MADISON - Net income and total lending showed double-digit increases at Wisconsin's 137 state-chartered credit unions in the first quarter of 2017 compared to the same period in 2016, according to data released today by the Department of Financial Institutions (DFI).

In the three months ending March 31, 2017:

  • Net income totaled $82.1 million, up from $72.3 million in 2016.
  • Total loans were $24.9 billion, up from $22.5 billion.
  • Net worth was 10.89%, up from 10.88%.
  • The delinquent loan ratio was 0.61%, down from 0.68%.

"After solid performance in 2016, state-chartered credit unions had a very robust first quarter," DFI Secretary Jay Risch said. "Their success puts them in great position to continue to offer the services and products their members need and want. That adds vitality to an already-strong Wisconsin economy."

A full report on credit unions' first-quarter 2017 performance will be available on the DFI website, www.wdfi.org, by the end of May.

New business entity filings
tracking 5.6% ahead of prior year

MADISON - The number of new business entities formed in Wisconsin in the first four months of 2017 grew by 5.6% compared to same period in 2016, according to data compiled by the Department of Financial Institutions (DFI). As of April 30, new business filings totaled 16,036 compared to 15,179 in the same period in 2016.

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 now open
for financial education training for teachers

Registration is now open for the 2017 National Institute of Financial and Economic Literacy (NIFEL) teacher and community educator training this summer at Edgewood College in Madison. The institute annually trains educators from across the state on a variety of personal financial education topics. Three separate sessions are scheduled. Attendees may sign up for one or multiple sessions:

June 19-22, 2017 - Innovation & Entrepreneurship
A new addition to the NIFEL training, this course provides a foundation for anyone in the educational field interested in learning about the entrepreneurial process, becoming more innovative in their work, creating change in their schools, or creating opportunities for students to learn about and practice entrepreneurship.

See the full press release here.

DFI participates in 'Big Read'
at Belleville Elementary School

DFI Secretary Jay Risch participated in the "The Big Read" event at Belleville Elementary School on April 27 as part of Money Smart Week Wisconsin, the celebration of which was proclaimed by Governor Scott Walker earlier this year. Money Smart Week is the highlight of April being national financial literacy awareness month, a collaborative effort by state and federal agencies and private-sector groups to raise awareness about the importance of financial literacy.

"The Big Read" event, for children in Grades Pre-K-4, was held at dozens of locations across the state. Belleville Superintendent Pam Yoder read the book "Little Critter: Just Saving My Money" by Mercer Mayer to students. Students from Belleville High School's business and marketing class participated by working in the classrooms with the elementary students. About 165 Belleville students in Pre-K, kindergarten and first grade participated in the event.

Pictured above are, left to right, Dave Mancl, Director of DFI's Office of Financial Literacy; Superintendent Yoder; Secretary Risch; Julie Porto, Vice President of the Belleville School Board; William Wilcox, Chair of the Governor's Council on Financial Literacy; and Belleville Elementary Principal Tammy Kielbasa.