For Immediate Release: September 13, 2023
Wisconsin’s State-Chartered Credit Unions Report Sound Second-Quarter Financial Performance
MADISON, Wis. – Wisconsin’s 109 state-chartered credit unions continue to exhibit sound financial performance as of June 30, 2023, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
At the end of the second quarter, total assets for Wisconsin’s state-chartered credit unions rose to $62.3 billion. This is an increase of $1.5 billion since year-end 2022. Over the same time period, loans outstanding grew by $2.1 billion, and shares and deposits rose $1.3 billion. This resulted in an increase to the loan-to-share ratio from 89.11% at year-end 2022 to 90.83%.
In the six months ending on June 30, 2023:
- Net worth to assets increased to 10.51%;
- Delinquent loan to total loan ratio was 0.68%, an increase from the year-end ratio of 0.65%;
- Net income was strong at over $223 million, 0.73% return on average assets; and
- Growth ratios were all positive.
“The financial indicators for Wisconsin’s state-chartered credit unions through mid-year are strong with solid net worth, return on assets, controlled loan and share growth,” said DFI Secretary-designee Cheryll Olson-Collins. “Overall, Wisconsin’s state-chartered credit unions continue to be financially stable with a positive outlook, and they continue to provide the financial services needed by their members.”
To learn more, read the DFI’s Office of Credit Unions’
2023 Mid-Year Financial Bulletin.
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Media Contact Email: DFICommunications@dfi.wisconsin.gov