The Wisconsin Bankers Foundation (WBF) announced that Bank of Sun Prairie has been selected as the recipient of the 2024 Financial Education Innovation Award. The award was presented on Feb. 6 at the Wisconsin Bankers Association (WBA) Bank Executives Conference in Milwaukee.
Bank of Sun Prairie has created a partnership with St. Vincent de Paul in Madison to provide microloans of around $500–$2,500. The program not only helps borrowers avoid costly payday or title loans, it also comes with financial literacy support. Participants are coached each month to help them find ways to make minimum payments. The program also connects people with the bank’s Fresh Start Checking Accounts, which can help those who have had challenges with using and keeping a checking account in the past to move forward.
Submissions for the 2024 WBF Excellence in Financial Education Awards encompassed over 900 financial education presentations given by more than 400 Wisconsin bank employees, reaching approximately 30,000 Wisconsin community members.
