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Credit unions’ net income,
loan growth again up by double digits

MADISON – Net income and total lending grew by double digits at Wisconsin’s 127 state-chartered credit unions in the second quarter of 2018 compared to same quarter in 2017, according to data released today by the Department of Financial Institutions (DFI).

In the three months ending June 30, 2018:

  • Net income totaled $204.4 million, up 19.1% from $171.6 million in 2017.
  • Total loans were $28.8 billion, up 11% from $25.9 billion.
  • Net worth was 11.29%, up from 10.95%.
  • The delinquent loan ratio was 0.62%, down from 0.63%.

“In the second quarter of 2018, state-chartered credit unions continued the growth we saw at the beginning of 2018,” DFI Secretary Jay Risch said. “This ongoing strong performance says they are offering their members the right products and services, which is contributing to Wisconsin’s continued economic growth.”

A full report on credit unions’ second-quarter 2018 performance will be available on the DFI website, www.wdfi.org, by the end of August.

New business entity filings
up 8.3% through July

MADISON - The number of new business entities formed in Wisconsin in the first seven months of 2018 grew by 8.3% compared to same period in 2017, according to data compiled by the Department of Financial Institutions (DFI). As of July 31, new business filings totaled 29,270, compared to 27,033 in the first seven months of 2017.

The business formation data is compiled by DFI, which is the filing office for the creation of business entities in the state. DFI tracks new business entity creation on a monthly basis and posts the data on its website. The full report may be found at www.wdfi.org/corporations/HistoricalStatistics.htm.

Guest Column by Department of Financial Institutions Secretary Jay Risch

MADISON - As Secretary of the state agency which oversees Wisconsin's state-chartered banks and credit unions, securities industry, and corporate business filing system, I am in the unique position of being able to gauge various measures of Wisconsin's economic health. Before I get into the details, here's the spoiler alert ‐ under Governor Scott Walker's leadership, Wisconsin's economy is historically strong and our entrepreneurial climate is excellent.

See the full press release here.

Wisconsin DFI Secretary Jay Risch Joins National Campaign
to Combat Fraudulent Veterans Charities

MADISON - Wisconsin Department of Financial Institutions (DFI) Secretary Jay Risch joins the Federal Trade Commission (FTC), law enforcement officials, and charity regulators nationwide in announcing "Operation Donate with Honor," a sweeping new donor education campaign to help donors spot and avoid fundraising solicitations that falsely promise their donations will help veterans and service members.

See the full press release here.