Wisconsin credit union profits rose through September

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Wisconsin’s state-chartered credit unions saw profits increase 12.7 percent in 2016 year-to-date, compared with the first three quarters of 2015, according to data released today by the Department of Financial Institutions.

UW Credit Union's Waukesha branch.
UW Credit Union’s Waukesha branch.

Net income was $242.6 million at the state’s 143 state-chartered credit unions through the end of September, up from $215.3 million in the same period last year, according to the DFI, which regulates state-chartered credit unions.

Total loans were $23.9 billion in the first three quarters, up 9.9 percent from $21.7 billion in the first three quarters of 2015.

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The delinquent loan ratio also declined, from 0.81 percent over the 2015 period to 0.73 percent through September 2016.

“Key metrics for state-chartered credit unions continue to trend in a positive direction,” said Lon Roberts, DFI secretary. “Our credit unions’ performance puts them in great position to continue to offer the products and services their members need and want, which in turn helps add vitality to the Wisconsin economy.”

The full report on state credit unions’ performance in the first three quarters of 2016 will be posted on the DFI website later this month. The DFI does not release any further information ahead of that report.

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