MADISON, WI (WTAQ) - New figures show that Wisconsin's credit unions are doing better as a group -- but some of the largest institutions are losing money on their own.
According to the Department of Financial Institutions, the 166 state-chartered credit unions had a combined net income of almost $120 million from January through June. That's almost 8.5 percent more than during the same period in 2013.
However, the National Credit Union Administration said the Summit Credit Union of Madison had a 9.1 percent drop in net income in the first half of the year -- and Landmark Credit Union of New Berlin had its income fall 4.3 percent. Those are the state's two largest credit unions.
In general, financial institutions secretary Peter Bildsten said state-chartered credit unions had another healthy quarter -- and the year to year growth in loans was "surprisingly strong."
The ratio of delinquent loans to total loans got better this year. It's now under one percent, back to levels seen before the Great Recession.
(Story courtesy of Wheeler News Service)