Contact: George Althoff, Communications Director, 608-261-4504
MADISON – Net income and total lending grew by double digits at Wisconsin’s 128 state-chartered credit unions in the first quarter of 2018 compared to same quarter in 2017, according to data released today by the Department of Financial Institutions (DFI).
In the three months ending March 31, 2018:
· Net income totaled $103.4 million, up 26.0% from $82.1 million in 2017.
· Total loans were $28.0 billion, up 12.6% from $24.9 billion.
· Net worth was 11.20%, up from 10.89%.
· The delinquent loan ratio was 0.60%, down from 0.61%.
“State-chartered credit unions in the first quarter picked up where they left off at the end of 2017,” DFI Secretary Jay Risch said. “Their continued strong performance indicates they are providing their members with the right mix of products and services, which is helping to fuel Wisconsin’s already strong economy.”
A full report on credit unions’ first-quarter 2018 performance will be available on the DFI website, www.wdfi.org, by the end of May.