Home Loans & Credit Wisconsin credit unions continue strong year as earnings, loans grow

Wisconsin credit unions continue strong year as earnings, loans grow

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Wisconsin’s credit unions are having a strong year, with earnings and lending up by double-digit percentages through September.

In the first nine months of 2018, the 126 state-chartered credit unions posted net income of $313.8 million, or 16 percent more than the $270.4 million in the same period last year, the Wisconsin Department of Financial Institutions said Wednesday.

Total loans grew to $29.6 billion, or 10.5 percent more than $26.8 billion in the first nine months of 2017.

The ratio of delinquent loans to total loans was 0.66 percent, down from 0.67 percent a year ago.

“In the third quarter of 2018, state-chartered credit unions continued the growth we have seen in each quarter of 2018,” Jay Risch, secretary of the department, said in a statement. “This continued high performance says the credit unions are offering the right products and services to their members, which is moving Wisconsin’s economy forward.”

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