Wisconsin's 179 state-chartered credit unions posted net income of $110.3 million in the first half of the year, 9% higher than net income of $101.2 million they recorded in the first six months of 2012, reports the Wisconsin Department of Financial Institutions in Madison.
Compared to the six months ending June 30, 2012, Wisconsin's state-chartered credit unions also increased assets by 5.1% to $24.3 billion, improved net worth to 10.28%, up from 9.83%, lowered delinquent loan ratio to 1.26% from 1.55%, and reduced operating expense ratio to 3.33% of assets fom 3.44%, according to the Wisconsin DFI.
DFI Secretary Peter Bildsten said the credit unions' deposit growth of 5% outpaced loan growth of 3.3% in the first two quarters of the year.
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