2025 Q3 Financial Report

Madison, WI – October 2025 – UW Credit Union announces its third-quarter 2025 financial results including assets totaling nearly $6.2 billion. Net income for the first nine months of 2025 reached $41.4 million, marking a 54% increase over the previous year. Net interest income for the 9 months ending September 30, 2024, was $161.0 million, up 13% from the same period in 2024. As of September 30, 2025, member deposit balances nearly reached $5.4 billion, a 14% increase from the start of the year. Membership growth in Q3 2025 surpassed 9,100, bringing the year-to-date increase to 18,201 and total membership to over 384,000.

In March, UW Credit Union announced a new rewards checking account with no monthly fees or minimum balances. In addition, a new feature called Early Payday posts direct deposit payroll into checking accounts up to 2 days early. This free feature helps families make ends meet between paychecks. Net growth in the number of member checking accounts increased 7,978 during the 3rd quarter, a 24% increase over the same period the previous year. Active members with checking accounts can earn 2% cash back on all credit card purchases. During the first 9 months of 2025, member credit card cash rewards earned were $12.8 million.

“We continue to welcome new members organically. We saw continued growth in core deposits through the addition of new primary account relationships, which helps maintain a stable deposit base,” said President and CEO Paul Kundert.

The Credit Union reported a strong liquidity position as of September 30, 2025, with total cash and Federal Reserve deposits amounting to $358.8 million. The credit union held $884.2 million in marketable investment securities, 43% of which will mature within the next 12 months. Undrawn credit lines of $1.8 billion from the Federal Home Loan Bank and Federal Reserve were available. Approximately 91% of the credit union’s deposit balances are within the limits of federal deposit insurance. The credit union’s deposit funding on September 30, 2025, was entirely from its members, with no brokered deposits.

UW Credit Union’s portfolio of loans to members reached $4.4 billion at quarter-end, reflecting an annual growth rate of 10.4%. Delinquent loans, as a percentage of total loans, were 0.62%, significantly lower than the 0.96% noncurrent loan bank average recently reported by the FDIC.

Chief Financial Officer Brad McClain stated, “We’re well positioned for today’s higher interest rates, which has enabled us to be a steady partner. Now in our 94th year, UW Credit Union has the financial resources to continue serving our members through the uncertainty of inflation and other economic unknowns. Our history of positive earnings added to capital reserves has created the financial strength to meet member needs during challenging times. Today, we hold $567.8 million in regulatory capital, which is 31.3% more than the amount required for the top ‘well-capitalized’ rating of financial strength.”

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