Georgia Credit Unions

Member engagement showed a meaningful QoQ recovery in 2026-Q1, with member growth accelerating to 0.04% from -0.54% in 2025-Q4 — a gain of 0.58 percentage points. That said, the YoY picture is more sobering: growth decelerated 0.58 pp from 0.62% in 2025-Q1, signaling that the rebound is modest relative to prior-year momentum. On a competitive basis, Georgia CUs outperform the national benchmark of -0.65% by 69 basis points, a meaningful distinction. Sustaining this recovery will require continued focus on member acquisition and retention strategies as organic growth slows.

Profitability deteriorated sharply on both timeframes. ROA decreased to 0.55% in 2026-Q1 from 0.86% in 2025-Q4 (-0.31 pp QoQ) and from 0.79% in 2025-Q1 (-0.24 pp YoY), placing Georgia CUs 12 basis points below the national benchmark of 0.67%. NIM offered partial offset, holding relatively stable YoY at 4.06% versus 4.02% in 2025-Q1 (+4 bps), though it edged down 0.06 pp from 4.12% in 2025-Q4. At 36 basis points above the national NIM of 3.70%, spread income remains a relative strength, but it has not been sufficient to arrest the earnings decline.

Growth decelerated across the board in 2026-Q1. Asset growth slowed to 1.81% from 2.32% in 2025-Q4 (-0.51 pp QoQ) and from 2.85% in 2025-Q1 (-1.05 pp YoY), falling 83 basis points below the national pace of 2.64%. Loan growth also decelerated to 0.77% from 1.12% in 2025-Q4 (-0.35 pp QoQ); YoY data is unavailable for direct comparison. Despite the slowdown, loan growth of 0.77% still exceeds the national benchmark of 0.31% by 46 basis points, suggesting Georgia CUs retain relative lending momentum even as the headline trajectory softens.

Georgia CUs' risk profile is mixed heading into 2026-Q1. Delinquency improved modestly QoQ, decreasing to 0.89% from 0.98% in 2025-Q4 (-0.09 pp), a welcome directional shift. However, on a YoY basis, delinquency increased 0.11 pp from 0.78% in 2025-Q1 and now sits 11 basis points above the national benchmark of 0.78%, signaling lingering credit stress. Net worth decreased to 14.43% from 14.78% in 2025-Q4 (-0.35 pp QoQ), yet remains 0.52 pp above the 2025-Q1 level of 13.91% and 82 basis points above the national 13.61%, providing a solid capital buffer.

Georgia CUs' portfolio composition reflects deliberate conservatism relative to national peers. First mortgage concentration stands at 14.22% in 2026-Q1, up 0.76 pp YoY but still well below the national 22.15%, suggesting limited long-duration rate exposure. Indirect auto lending at 4.29% — down 0.45 pp YoY — trails the national 7.73%, indicating a restrained appetite for that channel. Share certificates climbed to 20.05%, up 0.88 pp YoY and now slightly above the national 19.80%, pointing to member preference for rate-sensitive deposit products as higher-for-longer rate expectations persist.