Wisconsin’s State-Chartered Credit Unions Report Sound Third-Quarter Financial Performance

MADISON, Wis. – Wisconsin’s 110 state-chartered credit unions continue to exhibit sound financial performance as of September 30, 2022, 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 $59.6 billion. This is an increase of $3.7 billion since year-end 2021. Over the same time period, loans outstanding grew by $6.0 billion, and shares and deposits rose $3.2 billion. This resulted in an increase to the loan-to-share ratio from 79.21% at year-end 2021 to 85.90%.

In the nine months ending on September 30, 2022:

• Net worth to assets were at 10.39%;
• Delinquent loan to total loan ratio was 0.57%, an increase from the year-end ratio of 0.52%;
• Net income was strong at nearly $375 million, 0.86% of average assets; and
• Growth ratios were all positive.

“The financial indicators for Wisconsin’s state-chartered credit unions through the third-quarter of 2022 are sound with solid net worth and net income, low delinquency, and positive growth,” said DFI Secretary-designee Cheryll Olson-Collins. “Overall, Wisconsin’s state-chartered credit unions are financially stable with a positive outlook, and they continue to serve their members’ financial needs.”

To learn more, read the DFI’s Office of Credit Unions’ 2022 Third Quarter Financial Bulletin.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.