MADISON – Lending grew by 9.3% and net income rose 6.7% at Wisconsin’s 162 state-chartered credit unions in the first three quarters of 2014 compared to the prior year, according to data released today by the Department of Financial Institutions (DFI).
In the nine months ending September 30:
- Net income was $175.5 million, compared to $164.5 million in the first nine months of 2013.
- Total loans were $19.6 billion, compared to $17.9 billion.
- Deposits grew by 4.8%, from $21.2 billion to $22.2 billion.
- The delinquent loan ratio stood at 0.99%, down from 1.17%.
“For the third consecutive quarter, the delinquent loan ratio has been below 1.0%,” said Kim Santos, director of the Office of Credit Unions. “The last time it was below 1.0% was in 2004. That’s a clear indicator of the strength of credit unions’ loan portfolios.”
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