Credit unions celebrate 2014 achievements

Wisconsin’s 165 credit unions made $2.9 billion in small business loans in 2014, according to the new 2014 Scorecard released by the Wisconsin Credit Union League.

Credit unions and system partners in the state provide more than 10,000 part-time and full-time jobs, with a total annual payroll totaling more than $400 million.

The state’s credit unions have $27.3 billion in total assets and more than 2.5 million members.

The Scorecard also detailed the financial institutions’ efforts to save members money through fewer and lower fees, lower interest rates on loans and higher interest rates on savings when compared to banks. According to the WCUL, the total statewide savings afforded to members using these strategies was $104.7 billion in the third quarter of 2014, compared to Wisconsin banks.

In addition, according to the report, Wisconsin’s credit unions volunteered more than 40,000 hours to community organizations and raised more than $1 million for local causes in 2014.

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