MADISON, Wis. – Wisconsin’s state-chartered credit unions reported sound financial performance through year-end 2023, according to data released today by the Wisconsin Department of Financial Institutions (DFI). As of December 31, 2023, there were 107 state-chartered credit unions, three federal credit unions, and a corporate credit union serving Wisconsin residents.
At year-end 2023, total assets for Wisconsin’s state-chartered credit unions rose to $64.0 billion. This is an increase of $3.3 billion since year-end 2022. Over the same time period, loans outstanding grew by $3.7 billion, and shares and deposits rose $2.1 billion. This resulted in an increase to the loan-to-share ratio to 92.40% from 89.11% at year-end 2022.
In the 12 months ending on December 31, 2023:
- Net worth to assets increased to 10.50%;
- Delinquent loan to total loan ratio was 0.79%, an increase from the year-end ratio of 0.65%;
- Net income was strong at over $427.0 million, 0.68% return on average assets compared to 0.84% in 2022; and
- Growth ratios were all positive.
“Wisconsin’s state-chartered credit unions have reported sound financial performance with increasing net worth and solid growth ratios through the end of 2023,” said DFI Secretary-designee Cheryll Olson-Collins. “While the return on average assets ratio did decline and credit unions have seen a slight increase in delinquency amid an increase in loan volume, the state’s credit unions continue to be well managed. These results show that Wisconsin’s state-chartered credit unions continue to be a source of stability for their credit union members and communities.”
Additional information regarding credit union consolidations and liquidations, historical data on Wisconsin state-chartered credit unions, the December 31, 2023, Statement of Financial Condition and Statement of Income for Corporate Central Credit Union, and a listing of all Wisconsin credit unions at year-end 2023 are included in the DFI’s Office of Credit Unions’ 2023 Year End Credit Union Bulletin.
