MADISON, Wis. – Wisconsin’s state-chartered credit unions reported sound financial performance during 2022, with assets and lending both up, while net worth decreased slightly.
According to the data released by the Wisconsin Department of Financial Institutions (DFI), at year-end 2022, there were 110 state-chartered credit unions, three federal credit unions, and a corporate credit union operating in the state.
According to the DFI, key financial indicators for Wisconsin’s state-chartered credit unions in 2022 include:
- Total assets as of Dec. 31, 2022, were $60.7 billion, an increase of $4.8 billion (8.68%).
- Net worth decreased by $33.5 million, a decrease of 0.6%. Total net worth at year-end was $5.7 billion, a capital adequacy ratio of 10.39%. Loans increased over $8.1 billion in 2022 to a total of $46.2 billion
- Savings grew $3.8 billion
- The loan to savings ratio increased from 79.21% to 89.11% in 2022
- Credit unions reported earnings of over $491 million and the return on average assets ratio was 0.84% compared to 1.23% in 2021
- Delinquent loans as a percentage of loans increased to 0.65% in 2022 from 0.52% in 2021
- Credit unions increased their allowance for loan losses to $242.0 million from $226.0 million at year-end 2021
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