Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Large Wisconsin CUs post gains in 1st half 2011
MADISON, Wis. (8/19/11)--Most big Wisconsin credit unions posted large gains in net income in the first half of 2011 because of solid loan growth despite a challenging economy, according to the Wisconsin Department of Financial Institutions (DFI). Four credit unions saw triple-digit percentage increases in earnings, led by Pioneer CU in Green Bay, which recorded a 176% gain in the January through June period (The Milwaukee Journal Sentinel Aug. 18). Summit CU in Madison, the largest Wisconsin credit union by assets, saw a 17% net income gain--driven primarily by an increase in loans, CEO Kim Sponem told the newspaper. Total loans at Summit increased roughly $64 million--to more than $1.1 billion for the first half of 2011, compared with the same period last year. Summit saw a substantial increase in car buying--especially for used cars--in the first half of the year, Sponem told the paper. The credit union also was bolstered by an increase in mortgage lending because it is a major home finance lender in its area, she added. Total assets at the state’s more than 200 credit unions increased 4.9% in the first half of the year to $21.6 billion, said the DFI. At the same time, savings rose 5.7% to $18.9 billion, and delinquent loans declined to 1.8% of total loans from 2% in June 2010.


RSS print
News Now LiveWire
Of $1.3B in payments through mobile devices, 90% occurred at @Starbucks stores http://t.co/MN49JR1NXK
42 minutes ago
.@LoveBethpage 1st to launch mobile debit/credit card control from @COOPFS http://t.co/kuq7onGuai
1 hours ago
A booming W Okla county gets its first #creditunion @TheHEFCU See #NewsNow http://t.co/svTyMnms0X
4 hours ago
Mortgage interest rates continue slide in September @FHFA http://t.co/agU9RJW5Kq
6 hours ago
Reimagined branches shift to member, not #creditunion, needs: @cunacouncils white paper http://t.co/lN2mu0IVar
7 hours ago