Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Lending Spurs Wis State CUs' Highest ROA Since 2003
MADISON, Wis. (2/21/13)--Wisconsin state-chartered credit unions reported an average return on assets of 1.0% in 2012, the highest since 2003, the Wisconsin Department of Financial Institutions (DFI) reported Friday.

Earnings increased more than 81% over 2011 to $225.7 million.

The results were driven by a strong lending market and improved delinquency rates, said Brett Thompson, president/CEO of the Wisconsin Credit Union League.  Wisconsin credit unions' loan ratio of 1.36% was the lowest since 2007.

"Credit unions have picked up their lending, and when you see an increase in the loans you are making and a reduction in loan losses, you create greater income, and that's exactly what you are seeing here," Thompson said. "A big part of that is in the mortgage area. With rates being low, credit unions are doing more mortgage loans, some of which they are selling to the secondary market."

In the 12 months ending Dec. 31, Wisconsin's 187 state-chartered credit unions:

  • Achieved a net worth ratio of 10.25%, the highest since 2008;
  • Grew assets by 6.6% to $23.4 billion; and
  • Reduced provisions for loan losses by 21.5%.
A full report on the 2012 performance of Wisconsin credit unions will be available on the DFI website later this month.
RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago