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Loans, assets up at Wisconsin credit unions

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Wisconsin’s state-chartered credit unions are hailing another successful year.

Data from the state’s Department of Finacnial Insitutions strong growth across a variety of metrics in 2019, including:

  • Asset growth of 11% ($4.1 billion) to a total of $41.1 billion.
  • Loans were up 7.5% ($2.3 billion) to a total of $32.7 billion.
  • Net worth rose by 10.5% ($443 million) for a total of $4.7 billion, with a capital adequacy ratio of 11.4%.
  • ROA was down slightly, from 1.13% in 2018 to 1.10% in 2019.
  • Operating expense ratios were up slightly, from 3.18% in 2018 to 3.23% in 2019.
  • Credit union earnings in Wisconsin totaled $428 million for the year.

CUs in the state increased their total allowance for loan losses by 10%, from $180.8 million in 2018 to $199 million last year, as delinquent loans as a percentage rose by one basis point to 0.70%. The state’s loans-to-savings ratio dropped from 97.65% to 95.06% last year.

“Wisconsin credit unions are meeting the needs of their members and communities they serve,” DFI Secretary Kathy Blumenfeld said in a release. “Loan growth has been robust and combined with controlled operating expenses, net income and net worth growth are very strong. Overall, Wisconsin credit unions are financially stable, and the trends are positive."

More on credit unions' 2018 peformance in Wisconsin can be found here.

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