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News Now

CU System
Wisconsin CUs performance for 2nd Q improves
MADISON, Wis. (8/10/11)--Wisconsin credit unions showed continued improvement for the first half the year, with assets and total savings increasing and the percentage of delinquent loans declining, according to data compiled by the Wisconsin Department of Financial Institutions (DFI). “Despite some challenges in the current economy, credit unions are well-positioned to continue serving their Wisconsin members as reflected in a solid net-worth ratio of 9.8%,” said DFI Secretary Peter Bildsten said. As of June 30, total assets among state credit unions were $21.6 billion, compared with $20.6 billion as of June 30, 2010--an increase of 4.9%. Total savings were $18.9 billion, a rise of 5.7% from $17.8 billion on June 30, 2010. The percentage of delinquent loans also showed improvement, dropping to 1.8% from 2% during the period. Ginger Larson, director of the Office of Credit Unions--the agency that regulates state-chartered credit unions--also pointed to improvement in credit unions’ return on assets compared to 2010. “Through June, return on assets is running at just 0.5%, an improvement over the 2010 figure of 0.3%,” Larson said. “This is a positive sign and reflects a healthy credit union industry in the state.”


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