The shrinking number of state-chartered credit unions in Wisconsin posted growth in net income and lending in 2018.
The Wisconsin Department of Financial Institutions reported this month that the state’s 125 chartered credit unions saw net income of $401.3 million last year, up from $372.4 million in 2017.
Total loans grew 11.5 percent to $30.3 billion from $27.2 billion.
Kathy Blumenfeld, the DFI Secretary-designee, described the results in a press release as “good news.”
“The positive growth in all categories over the past year is good news for our state-chartered credit unions and a healthy sign for our state’s economy,” Blumenfeld said.
Read more in the Milwaukee Business Journal.