State-chartered credit unions in Wisconsin delivered double-digit growth in net income and total lending in the second quarter of 2018, compared to the same quarter in 2017.
Specifically, the state’s Department of Financial Institutions reported that for the three-month period ending June 30, 2018, Wisconsin’s 127 state-chartered credit unions generated net income of $204.4 million (up 19.1 percent from $171.6 million in 2017), while total loans stood at $28.8 billion (up 11 percent from $25.9 billion).
In addition, net worth was at 11.29 percent, up from 10.95 percent, while the delinquent loan ratio was at 0.62 percent, down from 0.63 percent.
“In the second quarter of 2018, state-chartered credit unions continued the growth we saw at the beginning of 2018,” stated DFI Secretary Jay Risch. “This ongoing strong performance says they are offering their members the right products and services, which is contributing to Wisconsin’s continued economic growth.”
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