MADISON, Wis. – Wisconsin’s 118 state-chartered credit unions continue to exhibit strong financial performance through the first quarter of 2021, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
Credit union total assets increased over $3 billion from year-end 2020 and stand at nearly $53 billion through March 31, 2021. Asset and share growth continue to be high with the ratios being 26.35% and 29.88% respectively. Deposits surged during the pandemic, and this, combined with a low interest rate environment continues to put pressure on the net interest margin. Loan growth was 5.12% with loans outstanding growing by $450 million and the loan to savings ratio dropped to 78.35%.