MADISON, Wis. (11/6/15)--Lending increased by 10.9% at Wisconsin’s 151 state-chartered credit unions in the first three quarters of 2015 compared with the prior year, according to the Wisconsin Department of Financial Institutions (DFI).
“State-chartered credit unions are continuing to perform well compared to last year,” said DFI Secretary Ray Allen. “They are in great position to help the state’s economy grow by providing their members the products and services they need to prosper.”
In the nine months ending Sept. 30, total loans were $21.7 billion, up from $19.6 billion, and net worth improved to 11%, up from 10.79%.
The delinquent-loan ratio fell to 0.81% from 0.99%.
The continued decline in the delinquent-loan ratio was worth noting, according to Kim Santos, director of the Office of Credit Unions.
“Our credit unions are doing an excellent job of maintaining the quality of their loan portfolios,” Santos said. “The delinquent loan ratio of 0.81% is at a historically low level.”