Wisconsin credit union profits up 11.5% in first nine months

Lending increases 12.5%

Wisconsin’s 134 state-chartered credit unions had higher profits and increased lending in the first nine months of the year, according to the Wisconsin Department of Financial Institutions.

UW Credit Union’s Waukesha branch.

Total net income year-to-date, as of the end of the third quarter, was $270.4 million, up 11.5 percent from $242.6 million in the same period in 2016.

Loans totaled $26.8 billion in the first nine months of the year, up 12.5 percent from $23.9 billion in the first nine months of 2016. The delinquent loan ratio was flat at 0.7 percent.

Net worth was 11 percent, up from 10.9 percent in the same period last year.

“State-chartered credit unions continue to show solid year-over-year performance,” said Jay Risch, secretary of the DFI, in a statement. “Their success allows them to continue to offer the services and products their members need and want, adding strength to an already-robust Wisconsin economy.”

The DFI will release the full third-quarter report by the end of the month on its website.

Wisconsin’s 134 state-chartered credit unions had higher profits and increased lending in the first nine months of the year, according to the Wisconsin Department of Financial Institutions.

UW Credit Union’s Waukesha branch.

Total net income year-to-date, as of the end of the third quarter, was $270.4 million, up 11.5 percent from $242.6 million in the same period in 2016.

Loans totaled $26.8 billion in the first nine months of the year, up 12.5 percent from $23.9 billion in the first nine months of 2016. The delinquent loan ratio was flat at 0.7 percent.

Net worth was 11 percent, up from 10.9 percent in the same period last year.

“State-chartered credit unions continue to show solid year-over-year performance,” said Jay Risch, secretary of the DFI, in a statement. “Their success allows them to continue to offer the services and products their members need and want, adding strength to an already-robust Wisconsin economy.”

The DFI will release the full third-quarter report by the end of the month on its website.

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