Wisconsin credit unions have solid 3rd quarter
Wisconsin’s 110 state-chartered credit unions continued to exhibit sound financial performance during the third quarter of 2022, according to data released by the Wisconsin Department of Financial Institutions (DFI). At the end of the third-quarter, total assets for Wisconsin’s state-chartered credit unions rose to $59.6 billion. This is an increase of $3.7 billion since year-end 2021. Over the same period, loans outstanding grew by $6 billion, and shares and deposits rose $3.2 billion. This resulted in an increase to the loan-to-share ratio from 79.21% at year-end 2021 to 85.90%.
In the nine months ending on Sept. 30:
- Net worth to assets were at 10.39%;
- Delinquent loan to total loan ratio was 0.57%, an increase from the year-end ratio of 0.52%;
- Net income was strong at nearly $375 million, 0.86% of average assets; and
- Growth ratios were all positive.