Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
First-half net income up 23 at Wisconsin CUs
MADISON, Wis. (8/20/08)--Wisconsin credit unions saw a nearly 23% rise in net income and an 8.5% increase in savings in the first half of the year. Net income totaled about $62.1 million at mid-year 2008, compared with $50.5 million for the first six months of 2007, according to the State of Wisconsin Office of Credit Unions Bulletin for mid-year 2008. Also, savings rose to more than $15 billion. “Overall, the financial indicators for Wisconsin credit unions exhibit sound financial performance for the first half of 2008 amid volatile challenging markets,” Suzanne T. Cowan, director of the Office of Credit Unions, wrote in the bulletin. Total assets as of June 30 were $17.8 billion, representing growth of $1.2 billion--a 7.4% increase--during the first half of the year. The net worth ratio remained strong at 10.78%, the bulletin said. Delinquency was 1.14%, down from 1.27% as of Dec. 31, 2007. The return on average assets grew slightly to 0.72%, compared with 0.66% in June 2007. Loans outstanding increased by $629 million and savings grew by $1.1 billion. The loan to share ratio for Wisconsin credit unions continues to be high at 92.89%, Cowan wrote in the bulletin.
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
1 day ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
1 day ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
1 hour ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
1 hour ago