Wisconsin credit union profits increased 13.1% in 2017

Lending increased 11.5% last year

Wisconsin’s state-chartered credit unions increased profits by 13.1 percent in 2017, according to new data released by the Wisconsin Department of Financial Institutions.

UW Credit Union’s Waukesha branch.

The 129 state-chartered credit unions in Wisconsin reported $372.4 million in net income in 2017, up 13.1 percent from $329.2 million in 2016.

Lending also increased in 2017, to $27.2 billion, up 11.5 percent from $24.4 billion in the prior year. The delinquent loan ratio decreased, from 0.8 percent to 0.7 percent, in 2017.

Total net worth was 11.3 percent, up from 11.1 percent in the prior year.

“State-chartered credit unions had a very successful year in 2017,” said Jay Risch, secretary of the DFI. “They continue to adapt to the needs of their members with the right combination of products and services, which in turn is having a positive impact on the Wisconsin economy.”

The DFI will release the full quarterly performance report on state-chartered credit unions at the end of the month on its website, www.wdfi.org.

Read more economic data reports at the BizTracker page.

Wisconsin’s state-chartered credit unions increased profits by 13.1 percent in 2017, according to new data released by the Wisconsin Department of Financial Institutions.

UW Credit Union’s Waukesha branch.

The 129 state-chartered credit unions in Wisconsin reported $372.4 million in net income in 2017, up 13.1 percent from $329.2 million in 2016.

Lending also increased in 2017, to $27.2 billion, up 11.5 percent from $24.4 billion in the prior year. The delinquent loan ratio decreased, from 0.8 percent to 0.7 percent, in 2017.

Total net worth was 11.3 percent, up from 11.1 percent in the prior year.

“State-chartered credit unions had a very successful year in 2017,” said Jay Risch, secretary of the DFI. “They continue to adapt to the needs of their members with the right combination of products and services, which in turn is having a positive impact on the Wisconsin economy.”

The DFI will release the full quarterly performance report on state-chartered credit unions at the end of the month on its website, www.wdfi.org.

Read more economic data reports at the BizTracker page.

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