Wisconsin Department of Financial Institutions: State-chartered credit unions grow net income, lending by double digits

Nov. 10, 2017

FOR IMMEDIATE RELEASE

Contact: George Althoff, Communications Director, 608-261-4504

State-chartered credit unions

grow net income, lending by double digits

MADISON – Net income and total lending grew by double digits at Wisconsin’s 134 state-chartered credit unions in the first nine months of 2017 compared to the same period in 2016, according to data released today by the Department of Financial Institutions (DFI).

In the nine months ending Sept. 30, 2017:

  • Net income totaled $270.4 million, up 11.5% from $242.6 million in 2016.
  • Total loans were $26.8 billion, up 12.5% from $23.9 billion.
  • Net worth was 11.01%, up from 10.93%.
  • The delinquent loan ratio was 0.67%, down from 0.73%.

“State-chartered credit unions continue to show solid year-over-year performance,” DFI Secretary Jay Risch said. “Their success allows them to continue to offer the services and products their members need and want, adding strength to an already-robust Wisconsin economy.”

A full report on credit unions’ third-quarter 2017 performance will be available on the DFI website, www.wdfi.orgby the end of November.

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