CU meeting with state
economic development corp. postponed
A meeting of Wisconsin credit unions and
and the Wisconsin Economic Development Corporation (WEDC) that
had been slated for July has been postponed.
The meeting, which will be rescheduled, will
look at ways to make Wisconsin's financial industry a more competitive
and robust sector of the state economy. The WEDC is the state's leading
economic development entity that was created by Governor Scott Walker's
special session on jobs and replaced the Department of Commerce in July
As part of the meeting, credit unions will
receive an update on the organization’s plans and progress, share insights affecting the financial services industry,
and explore the formation of a financial services consortium. The
consortium would ask financial professionals to advise on financial
services issues and remain involved in the communication process by
which Wisconsin’s schools and universities, skilled labor pool,
producers, and customers come together.
"Effectively, it would help
keep credit unions plugged into state policymaking as a means of
stimulating economic growth," said Brett Thompson, League President
The dialog with WEDC will
discuss issues that affect credit unions' contribution to the state's
economic engine, including but not limited to employee education,
training, recruitment and retention.
Credit unions are a vital part of the state
economy, paying millions in taxes annually
while providing financial services through a cooperative structure. This
member-ownership returned $201 million to 2.2 million Wisconsin citizens
in 2011 via higher interest on savings, lower loan rates and lower or
fewer fees. Bank customers saved $66 million in 2011 because of credit
union competition. Credit unions employ more than 7,413 full- and
part-time staff with an annual payroll of $278.6 million. They spent
$581 million locally in 2011.
The League will announce a new date for the
meeting as soon as it has been determined. ContactSarah Wainscottat (608) 514-0086 if you have any questions.
CU dialog with state economic development corp. postponed