MADISON, Wis. – Wisconsin’s state-chartered credit unions reported strong fiscal performance through year-end 2021, according to data released today by the Wisconsin Department of Financial Institutions (DFI). At year-end 2021, there were 113 state-chartered credit unions, three federal credit unions, and a corporate credit union serving Wisconsin residents.
“Despite the challenges of the coronavirus pandemic, Wisconsin credit unions have persevered and have done an outstanding job of serving their members and communities during these unprecedented times,” said DFI Secretary-designee Cheryll Olson-Collins. “The year-end financial indicators for Wisconsin’s state-chartered credit unions are sound. Many credit unions continued to experience growth while five credit unions merged in 2021. The overall financial performance of state-chartered credit unions remains stable with a positive outlook.”
Key financial indicators for Wisconsin’s state-chartered credit unions include:
- Total assets as of December 31, 2021, were $55.9 billion. Assets increased by $6.4 billion, a growth rate of 12.94%.
- Net worth increased by $552.7 million, an increase of 12.67%. Total net worth at year-end was $5.7 billion, a capital adequacy ratio of 10.42%.
- Loans increased nearly $3.0 billion in 2021 to a total of $38.1 billion.
- Savings grew with an increase of $5.8 billion, and the loan to savings ratio decreased from 83.14% to 79.21% in 2021.
- Credit unions reported earnings of over $649 million and the return on average assets ratio was 1.23% compared to 1.12% in 2020.
- Delinquent loans as a percentage of loans decreased to 0.52% in 2021 from 0.56% in 2020. Credit unions decreased their allowance for loan losses to $226.0 million from $269.1 million at year-end 2020.
Additional information regarding credit union consolidations and liquidations, historical data on Wisconsin state-chartered credit unions, Corporate Central Credit Union’s Statement of Financial Condition and Statement of Income as of December 31, 2021, and a listing of all Wisconsin credit unions at year-end 2021 are included in the 2021 Year-End Credit Union Bulletin.
