MADISON, Wis. – Wisconsin’s 107 state-chartered credit unions continue to exhibit sound financial performance as of June 30, 2024, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
At the end of the second quarter, total assets for Wisconsin’s state-chartered credit unions rose to $65.7 billion. This is an increase of $1.6 billion since year-end 2023. Over the same time period, loans outstanding grew by $570 million, and shares and deposits rose $1.04 billion. This resulted in a decrease to the loan-to-share ratio from 92.40% at year-end 2023 to 91.69%.
In the six months ending on June 30, 2024:
- Net worth to assets increased to 10.55%;
- Delinquent loan to total loan ratio was 0.80%, an increase from the year-end ratio of 0.79%;
- Net income was strong at over $210.5 million, 0.65% return on average assets; and
- Growth ratios were all positive.
“The financial indicators for Wisconsin’s state-chartered credit unions through mid-year are strong with solid net worth, strong growth in assets, and marginal loan growth. Higher interest rates have slowed lending, but loan to share ratios continue to be strong,” said DFI Secretary Cheryll Olson-Collins. “Overall, Wisconsin’s state-chartered credit unions continue to be financially stable with a positive outlook, and they continue to provide the financial services needed by their members.”
To learn more, read the DFI’s Office of Credit Unions’ 2024 Mid-Year Financial Bulletin.
