Wisconsin’s state-chartered credit unions have reported a promising first half of the year.
According to a Wisconsin Department of Financial Institutions report released today, the 154 state-chartered credit unions it oversees reported $140.8 million in net income in the first half of 2015, up 17.8 percent from $119.6 million in the first half of 2014.
Loans totaled $21 billion in the first six months of the year, up 10.6 percent from $19 billion in the same period a year ago. Mortgage loans particularly drove the increase in lending.
“First mortgage real estate loans were nearly $10.9 billion as of June 30,” said Kim Santos, director of the Office of Credit Unions. “That’s an increase of 9.4 percent compared to June 30, 2014.”
The delinquent loan ratio was 0.81 percent, down from 0.98 percent in the first half of 2014.
“The second quarter was basically a repeat of the first quarter for state-chartered credit unions, with most key indicators trending favorably,” said DFI Secretary Ray Allen. “The continued strong performance by state credit unions is yet another sign of a healthy Wisconsin economy.”
