Wisconsin credit unions increase profits

Coins stacked

Wisconsin’s 151 state-chartered credit unions increased both profits and lending in the first nine months of the year, when compared to the first three quarters of 2014, according to the state Department of Financial Institutions.Coins stacked

Total net income was $215.3 million in the first three quarters of the year, up from $175.5 million over the same period last year.

Loans among the state-charted credit unions totaled $21.7 billion in the first nine months of the year, up from $19.6 billion in the first three quarters of 2014.

“State-chartered credit unions are continuing to perform well compared to last year,” said Ray Allen, DFI secretary. “They are in great position to help the state’s economy grow by providing their members the products and services they need to prosper.”

The delinquent loan ratio was at 0.81 percent at the end of the third quarter, down from 0.99 percent last year.

“Our 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 of 0.81% is at a historically low level.”

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

Molly Dill, former BizTimes Milwaukee managing editor.

No posts to display