Delaware Credit Unions

Member engagement deteriorated sharply in 2026-Q1. Member growth turned negative at -0.84%, a deceleration of 0.91 pp from the already-thin 0.06% recorded in 2025-Q4. The year-over-year picture is starker: growth decelerated 2.33 pp from 1.49% in 2025-Q1, signaling a sustained reversal in membership momentum. The cohort now trails the national average of -0.65% by 20 basis points. Without a deliberate strategy to attract and retain members, negative growth threatens the deposit and loan volume needed to support long-term financial health.

Profitability weakened on both timeframes in 2026-Q1. ROA fell to 0.28% from 0.49% in 2025-Q4 — a decline of 0.21 pp quarter-over-quarter — and decreased 8 bps from 0.36% in 2025-Q1, leaving DE credit unions 39 bps below the national 0.67%. NIM offered partial relief, increasing 8 bps QoQ to 3.47% and rising 0.20 pp year-over-year from 3.27%, though it still trails the national 3.70% by 23 bps. The divergence between improving NIM and deteriorating ROA points to elevated non-interest expenses or provision costs compressing the bottom line.

Asset growth decelerated sharply to 2.03% in 2026-Q1 from 7.72% in 2025-Q4 — a 5.69 pp pullback — though on a year-over-year basis it accelerated 4.70 pp from -2.67% in 2025-Q1, reflecting a meaningful recovery from contraction. The cohort trails the national asset growth rate of 2.64% by 61 bps. Loan growth of 1.74% decelerated modestly by 0.62 pp from 2.35% in 2025-Q4 but stands 1.42 pp above the national 0.31%, demonstrating that DE credit unions continue to deploy capital into lending at an above-average pace despite slowing balance sheet expansion.

The risk profile showed mixed signals in 2026-Q1. Delinquency improved quarter-over-quarter, decreasing 0.27 pp to 1.53% from 1.80% in 2025-Q4 — a welcome directional shift. However, on a year-over-year basis, delinquency increased 6 bps from 1.47% in 2025-Q1, confirming that credit stress has not fully abated. At 1.53%, the cohort sits 75 bps above the national benchmark of 0.78% — nearly double the industry rate. Net worth held stable at 13.50% (up just 3 bps QoQ) but decreased 0.74 pp from 14.24% a year ago, and now sits 11 bps below the national 13.61%.

Portfolio composition shifted meaningfully over the past year. First mortgage concentration rose to 18.70% in 2026-Q1, up 0.76 pp from 17.94% in 2025-Q4 and up 2.73 pp from 15.97% in 2025-Q1, though it still trails the national 22.15%. Indirect auto declined to 7.39%, down 0.25 pp QoQ and 0.46 pp YoY, slightly below the national 7.73%. On the deposit side, share certificates climbed to 13.34%, up 9 bps QoQ and 1.52 pp YoY from 11.82%, yet remain well below the national 19.80%, suggesting room for competitive certificate offerings to attract rate-sensitive savers.