Net income and loan growth at Wisconsin’s state-chartered credit unions showed healthy increases in the third quarter of 2018, the state’s Department of Financial Institutions announced this week.
For the nine-month period ending Sept. 30, the Badger State’s 126 state-chartered CUs recorded total net income of $313.8 million, a 16 percent increase from the 270.4 million recorded during the same period of 2017.
Total loans were up by 10.49 percent for the same time period, hitting $29.6 billion, compared with $26.8 billion in September 2017. Net worth hit the 11.4 percent mark, an increase from 11.01 percent one year prior, while delinquencies were down slightly from 0.67 percent in a year ago to 0.66 percent at the end of Q3 2018.
“In the third quarter of 2018, state-chartered credit unions continued the growth we have seen in each quarter of 2018,” DFI Secretary Jay Risch said in a statement. “This continued high performance says the credit unions are offering the right products and services to their members, which is moving Wisconsin’s economy forward.”
