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

MADISON, Wis. – Wisconsin’s 107 state-chartered credit unions continue to exhibit sound financial performance as of September 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 $66.2 billion. This is an increase of $2.1 billion since year-end 2023. Over the same time period, loans outstanding grew by $841 million, and shares and deposits rose $1.6 billion. This resulted in a decrease to the loan-to-share ratio from 92.40% at year-end 2023 to 91.23%.

In the nine months ending on September 30, 2024:

• Net worth to assets increased to 10.63%;
• Delinquent loan to total loan ratio was 0.87%, an increase from the year-end ratio of 0.79%;
• Net income was strong at over $219.2 million, 0.65% return on average assets; and
• Growth ratios were all positive.

“The financial performance indicators for Wisconsin’s state-chartered credit unions through the third quarter of this year are strong with solid net worth, strong growth in assets, and recovering loan growth. Delinquency has increased, but remains at very manageable levels,” 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 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.