Wisconsin’s State-Chartered Credit Unions Report Sound First Quarter Financial Performance

For Immediate Release: June 3, 2024

Wisconsin’s State-Chartered Credit Unions Report Sound First Quarter Financial Performance

MADISON, Wis. – Wisconsin’s 107 state-chartered credit unions continue to exhibit sound financial performance as of March 31, 2024, 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 $65.5 billion. This is an increase of $1.5 billion since year-end 2023. Over the same time period, loans outstanding grew by $202.4 million, and shares and deposits rose $1.1 billion. This resulted in a slight decrease to the loan-to-share ratio from 92.40% at year-end 2023 to 90.91%.

In the three months ending on March 31, 2024:

• Net worth to assets were at 10.41%;
• Delinquent loan to total loan ratio was 0.69%, a decrease from the year-end ratio of 0.79%;
• Net income was strong at nearly $87.2 million, 0.54% return on average assets; and
• Growth ratios were all positive.

“Even with reduced earnings through the first quarter, net worth, loans, and savings increased while delinquency experienced a decline to begin the year,” said DFI Secretary 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’ 2024 First Quarter Financial Bulletin.

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Media Contact Email: DFICommunications@dfi.wisconsin.gov​​