Dept. of Financial Institutions: State credit unions post double-digit growth in net income, lending
CONTACT: George Althoff, Communications Director, 608-261-4504
MADISON – Net income and total lending grew by double digits at Wisconsin’s 129 state-chartered credit unions in 2017 compared to 2016, according to data released today by the Department of Financial Institutions (DFI).
In the 12 months ending Dec. 31, 2017:
Net income totaled $372.4 million, up 13.1% from $329.2 million in 2016.
Total loans were $27.2 billion, up 11.5% from $24.4 billion.
Net worth was 11.28%, up from 11.08%.
The delinquent loan ratio was 0.70%, down from 0.75%.
“State-chartered credit unions had a very successful year in 2017,” DFI Secretary Jay Risch said. “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.”
A full report on credit unions’ fourth-quarter 2017 performance will be available on the DFI website, www.wdfi.org, by the end of February.