MADISON (8/13/14)--Wisconsin's state-chartered credit unions experienced a jump in loan growth of 9.6% in the first half of the year, according to the Department of Financial Institutions.
"State-chartered credit unions had another very healthy quarter," DFI Secretary Peter Bildsten said. "Year-over-year loan growth was surprisingly strong, yet net worth and income levels remain very solid."
Net income also rose--8.4% year-over-year--at Wisconsin's 166 state-chartered credit unions.
In the six months ending June 30:
Kim Santos, director of the Office of Credit Unions, noted that loan quality continues to get stronger. "Delinquent loan expense declined by more than 33%, year over year, and delinquent loan ratios are now at pre-recession levels," Santos said. "That's a very encouraging sign."