Data released by the Wisconsin Department of Financial Institutions (DFI) showed that Wisconsin’s state-chartered credit unions reported sound financial performance through year-end 2023, according to a recent press release. As of Dec. 31, 2023, there were 107 state-chartered credit unions, three federal credit unions, and a corporate credit union serving Wisconsin residents.
At year-end 2023, total assets for Wisconsin’s state-chartered credit unions rose to $64.0 billion. This is an increase of $3.3 billion since year-end 2022. Over the same time period, loans outstanding grew by $3.7 billion, and shares and deposits rose $2.1 billion. This resulted in an increase to the loan-to-share ratio to 92.40% from 89.11% at year-end 2022.
In the 12 months ending on Dec. 31, 2023:
- Net worth to assets increased to 10.50%;
- Delinquent loan to total loan ratio was 0.79%, an increase from the year-end ratio of 0.65%;
- Net income was strong at over $427.0 million, 0.68% return on average assets compared to 0.84% in 2022; and
- Growth ratios were all positive.
