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Wisconsin's credit unions continue to grow in the slow economic climate, with most of the state's largest institutions posting big increases in net income through the first nine months of the year.

Madison-based Summit Credit Union, the state's biggest with assets of almost $1.7 billion, saw net income increase nearly threefold to $10.2 million as of Sept. 30, new regulatory data shows.

Earnings at Landmark Credit Union, of New Berlin, were up 57% to $10.1 million through the nine-month period, according to the National Credit Union Administration, or NCUA.

"With some of the largest credit unions, I think what you're seeing drive a good year is an increase in demand for small-business lending," said Brett Thompson, chief executive of the Wisconsin Credit Union League. "In fact, I think that has probably been the largest area of growth for our credit unions over the last year. More and more small businesses are looking for a place to borrow money and finding it difficult, and many are turning to credit unions."

Credit unions are like banks in many ways, but they are not-for-profit cooperatives owned by their members instead of stockholders. The NCUA insures deposits and regulates credit unions, similar to the way the Federal Deposit Insurance Corp. insures bank deposits and regulates banks.

Thompson said year-to-date statistics show that delinquencies and loan losses are decreasing - "hopefully signs of an economic recovery a little bit for us here."

In the July-though-September quarter, Wisconsin's 211 state-chartered credit unions posted "another solid performance," said Peter Bildsten, secretary of the Wisconsin Department of Financial Institutions.

The department said total loans grew by 1.5% from the second quarter to $16.3 billion. At the same time, savings deposits increased 1% to more than $19 billion. Total assets grew about 1% to $21.8 billion.

"It is encouraging to see positive trends in several key areas," Bildsten said. "This bodes well for state credit union members and the Wisconsin economy."

Ginger Larson, director of the state's Office of Credit Unions, noted an improving loan delinquency rate.

"The loan delinquency rate dropped to 1.83% in the third quarter and that's encouraging," Larson said. "This is down from 1.84% in the second quarter and 1.87% of a year ago."