Marketini Media Founders Ashley Storck and Sam Leary Introduce President Biden Ahead of His Historic Student Loan Announcement in Madison

MADISON, WISCONSIN, April 8, 2024 — During President Biden’s recent visit to Wisconsin, Marketini Media’s Co-Founders had the honor of introducing POTUS ahead of his historic announcement expanding student loan relief to millions of Americans. Their speech followed Madison Mayor Satya Rhodes-Conway, U.S. Representative Mark Pocan (WI-02), and Governor Tony Evers.

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WPS restructures organization for growth

FOR IMMEDIATE RELEASE

Contact:
DeAnne Boegli
Corporate Communications
608-977-7343
deanne.boegli@wpsic.com

WPS restructures organization for growth
New holding company structure allows development of new opportunities

MADISON, Wis.—March 20, 2024—Wisconsin Physicians Service Insurance Corporation’s (WPS) corporate structure has recently been expanded to add a new parent holding company called WPS Holdings, Inc. The corporate restructure provides greater enterprise flexibility and enables new growth opportunities. 

“We are on a growth trajectory and the new structure will serve that growth. I want to be clear that WPS remains fully committed our health insurance business and the markets we serve,” says Chief Legal and Administrative Officer Frank Gumina. “There are no plans to sell or otherwise divest any part of our business.” 

The new WPS Holdings, Inc. is set up as a nonstock corporation with no shareholders or owners. WPS Holdings, Inc. is the sole member of Wisconsin Physicians Service Insurance Corporation. The new structure will allow the enterprise more flexibility to expand and grow into lines of business outside of insurance, while continuing its full commitment to WPS Health Insurance customers, beneficiaries, business partners, and agents. 

About WPS Health Solutions^®

Wisconsin Physicians Service Insurance Corporation (WPS Health Solutions), founded in 1946, is a nationally regarded benefits administrator for a variety of U.S. government programs and a leading not-for-profit health insurer in Wisconsin. WPS Health Solutions serves active-duty and retired military personnel, seniors, individuals, and families in Wisconsin, across the U.S., and around the world. WPS Health Solutions, headquartered in Madison, Wisconsin, has more than 2,600 employees. For more information, please visit wpshealthsolutions.com.

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Oak Bank: Bob Gorsuch Celebrates 60 Years in Banking

For Immediate Release

Contact: 
Karen Virnoche
608.441.6000
kvirnoche@oak.bank

WBA PHOTOS FOR DOWNLOAD

Bob Gorsuch Celebrates 60 Years in Banking
Oak Bank’s Founder, Madison area’s longest-serving bank executive, receives recognition from the Wisconsin Banking Association.

Fitchburg, WI – 1964. It was the year the Beatles released their first U.S. album; Dr. Martin Luther King Jr. received the Nobel Peace Prize, and Bob Gorsuch started his career in banking.

While the first two are certainly well-known moments in American history, Gorsuch is leaving his own mark in Wisconsin as one of just two bankers to achieve 60 years in banking this year and one of just twenty-seven bankers to reach the milestone in the state since 1990, according to the Wisconsin Bankers Association (WBA). Gorsuch is also the Madison area’s longest-serving bank executive.

WBA recently honored Gorsuch for his 60-year milestone and contributions to the industry and community during a special luncheon at the largest banking industry event in the state, the WBA Bank Executives Conference.

“The expertise gained and contributions made over the course of six decades are truly invaluable,” said Rose Oswald Poels, WBA president and CEO. “It is an honor to congratulate Bob Gorsuch on this extraordinary career achievement.”

“I tell people if you hang around long enough, pretty soon these types of accolades will knock on your door,” laughed Gorsuch. “Of course, I am honored to be recognized. I love coming to Oak Bank and helping people start a business, buy a home or car, take out a student loan, whatever the case. It’s truly been a joy.”

After three years of active duty with the U.S. Army, Gorsuch began his banking career in his home state of Michigan with a part-time banking job while in college. He moved to Madison in 1975, where he began a 24-year stint as Park Bank’s president. In the fall of 2000, Gorsuch ventured out on his own and started Oak Bank. Today, while many area banks have merged, Oak Bank is thriving as an independent, locally owned, and operated community bank in Fitchburg.

“I can drive into a small town, and I can tell how good the bank is,” said Gorsuch. “I think a strong, healthy community gets its roots from the local bank. If the bank ownership and employees are genuinely involved in the community and support things like libraries and parks, the community has the foundation for being vibrant and healthy. I am very proud that Oak Bank has been able to stay independent at a time when many banks are merging and possibly leaving behind their connections to the community.”

As an active member of the Fitchburg and surrounding Dane County communities, Gorsuch has served on boards and committees, gives to local charities, hosts events he’s passionate about, and inspires his associates to do the same.

“Bob has realized his vision of building a successful community bank that helps local businesses grow and prosper, and families reach their financial dreams,” said Terry Taylor, Oak Bank President.  “Bob is passionate about banking and serving the needs of our local community.  We are all thankful for the opportunity to work with Bob and congratulate him on all that he has accomplished.” 

“Bob’s six decades in banking have been more than a profession; they’ve been a steadfast commitment to our community’s well-being,” said Jason Adamany, Adesys Founder and President and Oak Bank board member. “As founder of Oak Bank, his dedication has been the foundation of financial integrity. Yet, it’s Bob’s genuine kindness and supportive words that truly define his character.”

What does Gorsuch want his and Oak Bank’s legacy to be?

“It’s all about the people, and we’ve got some of the best,” said Gorsuch. “Several people at Oak Bank have been here from the beginning, and that’s unusual, and it makes us special. I have tried to lead by example and show that we need to care for and about each other. I think caring can make the difference in how successful your business is, how happy your team is, and that leads to great customer care and a better community.”

About Oak Bank
Oak Bank has been deeply rooted in the Fitchburg community and Madison area for 24 years, meeting the financial needs of homeowners and businesses by offering top-notch service, quick answers, and creative solutions, all while supporting over 125 local nonprofits each year. Visit oak.bank to learn more.

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NVNG to Close First Fund of Funds with Commitments of $50 Million

February 12, 2024, MADISON, Wis – NVNG Investment Advisors, a Wisconsin-based investment firm with offices in Madison and Milwaukee has announced the final closing of its Fund I. The fund has received commitments of $50 million making it the largest Wisconsin-based fund of funds.

From its inception, NVNG set out to grow the venture ecosystem in Wisconsin by leveraging their vast network of venture funds outside the state. Departing from traditional venture fund models, NVNG’s approach combines a network of best-in-class national venture funds with strategic investments in both Wisconsin funds and direct investments in Wisconsin startups creating a robust and virtuous ecosystem.

For non-local/national venture funds, NVNG provides access to Wisconsin based corporations providing insight and potential acquisition partners. For local venture Funds, NVNG not only provides capital but provides access to new deal flow and potential syndications through the fund’s national partners.

For private and corporate investors, the NVNG portfolio is designed to remove barriers for local investors to access high-performing funds and ensure a more comprehensive approach to venture capital with the benefit of driving deal flow in the state.

Carrie Thome, co-founder of NVNG and former Chief Investment Officer at the Wisconsin Alumni Research Foundation (WARF), emphasizes the potential to showcase and grow Wisconsin into a competitive entrepreneurial powerhouse, stating, “There is no reason that Wisconsin can’t have a thriving venture capital ecosystem. We are confident that we have the right national network connections that the state has been missing, in addition to providing the necessary capital for both funds and startups.”

“NVNG’s mission is to make Wisconsin’s entrepreneurial ecosystem globally competitive,” said Grady Buchanan, co-founder at NVNG. “This doesn’t happen without creating new ways of attracting capital and supporting an ecosystem here that is very much in transition and deserving of a venture capital network that we can provide.”

Early investors in Fund I include ­­­Exact Sciences, Baird, Johnson Financial Group, West Bend Insurance and A.O. Smith. A list of NVNG’s strategic partners can be found at NVNGIA.com. A list of funds that NVNG is investing in can be found at NVNGIA.com/Investment-strategy.

“NVNG’s focus on the Wisconsin innovation ecosystem and connecting it to a broader, national network of entrepreneurs and venture capital will help fuel Wisconsin’s economic growth,” said Kevin Conroy, Chairman & CEO of Exact Sciences, one of NVNG’s initial investors when the fund first opened. “A vibrant Wisconsin innovation economy is good for Wisconsin and for Exact Sciences.”

Fund I is NVNG’s initial fund offering. In addition, the organization offers key network development and education opportunities for fund managers and investors such as our +Venture North event. The organization also provides a platform for local startups to create visibility through +Venture Wisconsin.

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About NVNG:

NVNG Investment Advisors is designed to help corporate and institutional investors realize financial returns while making strategically meaningful connections to professionally managed venture capital by creating, vetting, and curating a series of products and corporate services including venture capital-focused ‘fund of funds’ products.

UW Health: Invests in workforce housing for Dane County

MADISON, Wis. – The University of Wisconsin Hospitals and Clinics Authority Board approved a $1 million workforce housing development investment that will benefit its employees and others in Dane County.

This marks the second time the UW Health board has invested $1 million in the Dane Workforce Housing Fund, joining other large, local employers in the effort to create more affordable housing for the Madison area workforce.

The fund began with a collaboration between the United Way of Dane County and the Economic Stability Council to tackle an affordable housing shortage in Dane County, according to Lorrie Heinemann, president and chief operating officer, Madison Development Corporation, the manager of the fund.

“Investors in the Dane Workforce Housing Fund fill a gap in the financing that could not be filled by another source of capital at a reasonable cost, giving developers a lower interest rate, and allowing them to offer some of their apartments at affordable rents to people making between 50 and 80% of the Dane County area median income,” she said.

The Dane County area median income in 2023 was $123,400 for a family of four, according to the United States Department of Housing and Urban Development.

UW Health has many employees in this group, according to Chuck Klein, manager of talent acquisition, UW Health. Madison area housing costs come up frequently in conversations while recruiting new employees, he said.

“People tell us they are surprised by how expensive housing is in Madison, particularly people who are moving from out of state,” Klein said.

While the issue affects many Madison area businesses, housing costs can be especially challenging for employees at UW Health because some jobs require employees to be on call regularly, which requires that they live within a certain distance from one of the hospitals.

“That’s basically the west side of Madison for employees at University Hospital, and affordable options are challenging to find,” he said.

UW Health joined a dozen other investors in the Dane Workforce Housing Fund I, investing the first $1 million in that initial round of funding that launched in 2020. The goal of the first round of the fund was to raise $10 million to build 500 units. When the fund closed in late 2023, it exceeded that goal by raising $11.8 million from 14 investors and building 747 new housing units. New apartment buildings created by the first round of funding include Uno Terrace Apartments in Madison, The Trotta and The Kestrel in Middleton, and Limestone Ridge in Fitchburg. The projects tend to have mixed-rate rents, with some offered at market rate and others to earners making less than the area median income.

The Madison Development Corporation is currently raising funding for Fund II, to build on the progress Fund I achieved, with the goal of reaching $10 million by February 2024. Employers interested in investing in the fund can call (608) 535-4572.

“We look forward to the next phase of this work,” Heinemann said. “We’re grateful to UW Health and all the investors who are working to be part of the solution that creates more quality workforce housing in Madison.”

This fund is an investment, not a donation for UW Health, but it is also more than that, according to Robert Flannery, chief financial officer, UW Health.

“This investment is part of our mission to improve health in Dane County,” he said. “Through collaboration with community organizations and other major local employers, we can improve health equity with better access to housing, including for our workforce.”

The full list of investors includes BMO Harris Bank, Exact Sciences Corporation, First Business Bank, Lake Ridge Bank, Madison Development Corporation, Madison Gas and Electric Foundation, Oak Bank, Oscar Rennebohm Foundation, Summit Credit Union, Park Bank, TruStage Foundation, UW Credit Union, UW Health and WPS Health Solutions.