Wisconsin’s state-chartered credit unions reported sound financial performance through year-end 2022, according to data released by the Wisconsin Department of Financial Institutions (DFI). At year-end 2022, there were 110 state-chartered credit unions, three federal credit unions, and a corporate credit union serving Wisconsin residents.
Key financial indicators for Wisconsin’s state-chartered credit unions include:
- Total assets as of Dec. 31, 2022, were $60.7 billion. Assets increased by $4.8 billion, a growth rate of 8.68%.
- Net worth decreased by $33.5 million, a decrease of 0.6%. Total net worth at year-end was $5.7 billion, a capital adequacy ratio of 10.39%.
- Loans increased over $8.1 billion in 2022 to a total of $46.2 billion.
- Savings grew with an increase of $3.8 billion, and the loan to savings ratio increased from 79.21% to 89.11% in 2022.
- Credit unions reported earnings of over $491 million and the return on average assets ratio was 0.84% compared to 1.23% in 2021.
- Delinquent loans as a percentage of loans increased to 0.65% in 2022 from 0.52% in 2021. Credit unions increased their allowance for loan losses to $242 million from $226 million at year-end 2021.
