For Immediate Release: June 8, 2023
Wisconsin’s State-Chartered Credit Unions Report Sound First-Quarter Financial Performance
MADISON, Wis. – Wisconsin’s 109 state-chartered credit unions continue to exhibit sound financial performance as of March 31, 2023, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
At the end of the first quarter, total assets for Wisconsin’s state-chartered credit unions rose to $61.9 billion. This is an increase of $1.2 billion since year-end 2022. Over the same time period, loans outstanding grew by $896.4 million, and shares and deposits rose $1.3 billion. This resulted in a slight decrease to the loan-to-share ratio from 89.11% at year-end 2022 to 88.57%.
In the three months ending on March 31, 2023:
- Net worth to assets were at 10.38%;
- Delinquent loan to total loan ratio was 0.59%, a decrease from the year-end ratio of 0.65%;
- Net income was strong at nearly $103 million, 0.67% return on average assets; and
- Growth ratios were all positive.
“The financial indicators for Wisconsin’s state-chartered credit unions through the first quarter of this year are sound with solid net worth and net income, low delinquency, and positive growth,” said DFI Secretary-designee Cheryll Olson-Collins. “Overall, Wisconsin’s state-chartered credit unions are financially stable with a positive outlook, and they continue to serve their members’ financial needs.”
To learn more, read the DFI’s Office of Credit Unions’
2023 First Quarter Financial Bulletin.
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Media Contact Email: DFICommunications@dfi.wisconsin.gov