MADISON, Wis. – Wisconsin’s 109 state-chartered credit unions continue to exhibit sound financial performance as of September 30, 2023, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
At the end of the third quarter, total assets for Wisconsin’s state-chartered credit unions rose to $63.1 billion. This is an increase of $2.4 billion since year-end 2022. Over the same time period, loans outstanding grew by $3.1 billion, and shares and deposits rose $1.9 billion. This resulted in an increase to the loan-to-share ratio to 91.78% from 89.11% at year-end 2022.
In the nine months ending on September 30, 2023:
- Net worth to assets increased to 10.57%;
- Delinquent loan to total loan ratio was 0.73%, an increase from the year-end ratio of 0.65%;
- Net income was strong at over $344.5 million, 0.74% return on average assets; and
- Growth ratios were all positive.
“Wisconsin’s state-chartered credit unions reported sound financial performance with solid net worth, return on assets, and well managed loan and share growth through the third quarter of this year,” said DFI Secretary-designee Cheryll Olson-Collins. “These results show that Wisconsin’s state-chartered credit unions continue to be a source of stability for their credit union members and communities.”
To learn more, read the DFI’s Office of Credit Unions’ 2023 Third Quarter Financial Bulletin.
