Wisconsin Department of Financial Institutions: State-chartered credit unions show jump in lending, net income

Contact: George Althoff, Communications Director, 608-261-4504

Madison – Lending increased nearly 10% and net income rose 12.7% at Wisconsin’s 143 state-chartered credit unions through the third quarter of 2016 compared to the prior year, according to data released today by the Department of Financial Institutions (DFI).

In the nine months ending Sept. 30, 2016:

· Total loans were $23.9 billion, up 9.9% from $21.7 billion in the first three quarters of 2015.

· Net income totaled $242.6 million, up from $215.3 million.

· Net worth was 10.93%, down slightly from 11.00%.

· The delinquent loan ratio was 0.73%, down from 0.81%.

“Key metrics for state-chartered credit unions continue to trend in a positive direction,” DFI Secretary Lon Roberts said. “Our credit unions’ performance puts them in great position to continue to offer the products and services their members need and want, which in turn helps add vitality to the Wisconsin economy.”

A full report on credit unions’ performance through Sept. 30 will be available on the DFI website, www.wdfi.org, by the end of November.