9/5/2019 7:23:00 AM Wisconsin's credit unions post strong mid-year performance
Wisconsin's 122 state-chartered credit unions continue to have strong financial performance with loan-to-share ratios at 93.6 percent, up two-basis points from March 2019, and total asset growth up nearly 4 percent compared to the same time last year, according to data released by the Wisconsin Department of Financial Institutions (DFI).
In the six months ending on June 30, 2019:
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;
Delinquent loan to total loan ratio was 0.62 percent (identical to last June and in line with recent quarters) - this ratio is at historical 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.
"State-chartered credit unions continued to perform well during the first two quarters of 2019," DFI Secretary Kathy Blumenfeld said. "Their continued solid performance is a result of a good economy during the first half of the year and strong fiscal management."
A full report of credit unions' second-quarter 2019 performance is available on the DFI website: http://www.wdfi.org/fi/cu/financial_data.htm.
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