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
Wis. DFI: State-chartered CUs' Income Grew 9%
MADISON, Wis. (8/13/13)--Wisconsin's state-chartered credit unions increased net income by 9% in the six months ending June 30, compared with the previous year, according to data released Wednesday by the Wisconsin Department of Financial Institutions (DFI).
 
"Wisconsin credit unions once again demonstrated that the way to grow earnings is through good loan quality and prudent expense management," DFI Secretary Peter Bildsten said.
 
Net income was $110.3 million, up from $101.2 million in the first half of 2012, said the Wisconsin DFI.

Compared with the six months ending June 30, 2012, Wisconsin's 179 state-chartered credit unions:
  • Grew assets by 5.1% to $24.3 billion;
  • Improved net worth to 10.28%, up from 9.83%;
  • Lowered the delinquent loan ratio to 1.26% from 1.55%; and
  • Reduced operating expense ratio to 3.33% of assets from 3.44%.
Credit unions' deposit growth of 5% outpaced loan growth of 3.3% in the first two quarters, Bildsten said.
 
"Figuring out how to put excess deposits to work in a low-interest rate environment continues to be a challenge for the industry," he added.
 
Merger activity in the past year was strong for several reasons, with the number of state-chartered credit unions declining to 179, compared with 194 as of June 30, 2012, said Kim Santos, director of the state's Office of Credit Unions.
 
"Some of our smaller credit unions are struggling with loan growth, loan quality and expense control," Santos explained.
RSS





print
News Now LiveWire
#NewsNow Ohio, Ga. video: Merchants not watching your wallet http://t.co/7jc7rECKSF
13 minutes ago
What will a viking raid? Town or your wallet? http://t.co/JJYXXAGk7g @OhioCreditUnion @GCUAGov #StoptheDataBreaches http://t.co/7jc7rECKSF
52 minutes ago
#creditunions face 'perfect storm' of tech changes in 2015 #NewsNow http://t.co/K2a6GZX8k5
1 hour ago
Middle-class families walking a tightrope with little savings @pewresearch HT @CNNMoney http://t.co/Pfu2KHASZa
17 hours ago
.@CUNA's @SchenkMike on @federalreserve meeting: http://t.co/Ry39vjWdA1
18 hours ago