Wisconsin’s state-chartered credit unions increased profits by 21.6 percent and ending by 10.7 percent in the first quarter of 2015, according to data released today by the Wisconsin Department of Financial Institutions.
Aggregate net income for the 156 state-chartered credit unions totaled $68.5 million, up from $56.3 million in the first quarter of 2014.
Total loans were $20.4 billion, up from $18.5 billion in the same period a year ago.
The delinquent loan ratio also improved, dropping from 0.9 percent in the first quarter of 2014 to 0.8 percent in the most recent quarter.
“State-chartered credit unions are doing an excellent job of maintaining the quality of their loan portfolios,” said Kim Santos, director of the Office of Credit Unions. “The delinquent loan ratio is at a historically low level.”
“State-chartered credit unions had a very solid start to 2015,” said Ray Allen, DFI secretary. “Many of the key indicators by which credit unions measure success are in very good shape. Credit unions are in great position to continue to help the Wisconsin economy grow by providing consumers and businesses the products and services they need to prosper.”
