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DFI co-hosts cybersecurity seminar
for Wisconsin bank executives

Department of Financial Institutions (DFI) Secretary Lon Roberts welcomes more than 50 Wisconsin bank executives on Thursday, Nov. 10, to an Executive Cybersecurity Briefing seminar in Wisconsin Dells. Attendees were given an overview of cyber threats to the banking industry as well as resources they can use and actions they can take to manage these evolving threats. Presenting at the seminar were representatives from DFI, the Texas Department of Banking, the U.S. Secret Service and the Conference of State Bank Supervisors (CSBS). The seminar was co-hosted by DFI, the Wisconsin Bankers Association and CSBS.

New business entity filings
tracking 5.2% ahead of prior year

MADISON - The number of new business entities formed in Wisconsin in the first 10 months of 2016 grew by 5.2% compared to same period in 2015, according to data compiled by the Department of Financial Institutions (DFI). As of Oct. 31, 2016, new business filings totaled 35,971 compared to 34,190 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.

Nominations still being accepted
for 2016 Governor's Financial Literacy Award

MADISON - Nominations for the 2016 Governor's Financial Literacy Award are still being accepted by the Governor's Council on Financial Literacy. Submission deadline is December 1. Nominations may be made in one of three categories:

Individual - Any person providing exceptional financial literacy education in an innovative manner.
Organization/business - Any organization or business promoting financial literacy in an innovative manner through its initiatives.
Legacy - An organization, business or individual whose purpose and heritage is ingrained in sustained financial literacy and capability, and whose reputation in doing so is held in high regard in serving as a model for others in carrying on the work of supporting financial literacy and expanding opportunities through financial capability. This lifetime recognition is intended to be conferred once to the recipients.

Criteria that will be used to judge the nominations include:

Innovative implementation of an effective financial literacy program or program element within the last two years.
Demonstrated measureable results.
Collaboration with partners.
Scalability of the program design.

Nominations may be submitted online at:
www.wdfi.org/ymm/govcouncilfinlit/2016FinLitAwardsNominationForm.pdf.

The Governor's Council will select recipients in December. Last year, the Council selected 15 individuals and organizations as recipients of the 2015 award. They were honored by Governor Scott Walker in a ceremony at the Capitol. The Department of Financial Institutions (DFI), through its Office of Financial Literacy (OFL), promotes financial literacy statewide. DFI Secretary Lon Roberts is vice chair of the Governor's Council on Financial Literacy.

State-chartered credit unions
show jump in lending, net income

MADISON - Lending increased nearly 10% and net income rose 12.7% at Wisconsin's 143 state-chartered credit unions through the third quarter of 2016 compared to the prior year, according to data released today by the Department of Financial Institutions (DFI).

In the nine months ending Sept. 30, 2016:

Total loans were $23.9 billion, up 9.9% from $21.7 billion in the first three quarters of 2015.
Net income totaled $242.6 million, up from $215.3 million.
Net worth was 10.93%, down slightly from 11.00%.
The delinquent loan ratio was 0.73%, down from 0.81%.

"Key metrics for state-chartered credit unions continue to trend in a positive direction," DFI Secretary Lon Roberts said. "Our credit unions' performance puts them in great position to continue to offer the products and services their members need and want, which in turn helps add vitality to the Wisconsin economy."

A full report on credit unions' performance through Sept. 30 will be available on the DFI website, by the end of November.