Wisconsin credit unions report strong mid-year performance
Wisconsin’s 122 state-chartered credit unions continue to have strong financial performance with stronger loan-to-share ratios and healthier balance sheets, according to data released by the Wisconsin Department of Financial Institutions.
Loan-to-share ratios, which measure liquidity, are at 93.6 percent, up two basis points from March 2019, and total asset growth rose nearly 4 percent compared to the same time last year. While a full report of credit unions’ second-quarter 2019 performance is available on the DFI website, a snapshot of the report for the 6 months ending on June 30, 2019, reveals the following:
- Net income was strong at $208 million, 1.09 percent of average assets;
- Loan balances were just over $31 billion with loan growth at 5.71 percent;
- The delinquent loan to total loan ratio was 0.62 percent (identical to last June and in line with recent quarters) and remains at historically low levels;
- Net worth to assets were at 11.27 percent with a stable trend; and
- Total assets were $39.6 billion with asset growth at 14 percent compared to just over 10 percent at the same time last year.
DFI Secretary Kathy Blumenfeld credited the strong performance to a good economy during the first half of the year and strong fiscal management.