Georgia Credit Unions

Member engagement strengthened meaningfully in Q2 2026. Member growth accelerated to 0.69%, up from 0.04% in Q1 2026 (QoQ) and from 0.32% in Q2 2025 (YoY), marking two consecutive positive quarters after a negative reading of -0.54% in Q4 2025. Critically, Georgia CUs are running 1.39 pp ahead of the national average of -0.69%, which itself is contracting. The challenge ahead is converting this membership momentum into deeper product penetration — loan growth turning negative signals that new members are not yet borrowing at sufficient rates.

Profitability surged in Q2 2026. ROA increased to 1.04% from 0.55% in Q1 2026 — a 49 bp quarterly jump — and is up 14 bps from 0.90% in Q2 2025, placing Georgia CUs 15 bps above the national benchmark of 0.89%. NIM held essentially flat at 4.07%, stable versus both 4.06% in Q1 2026 (QoQ) and 4.08% in Q2 2025 (YoY), and remains a robust 33 bps above the national average of 3.74%. The combination of strong margin discipline and a sharp ROA rebound signals broad-based earnings improvement across the cohort.

Asset growth accelerated modestly to 1.93% in Q2 2026 from 1.81% in Q1 2026 (QoQ), extending a positive streak now nine consecutive quarters since Q2 2024. However, on a year-over-year basis, asset growth decelerated from 2.20% in Q2 2025, and the cohort trails the national benchmark of 2.63% by 70 bps. More pressingly, loan growth decelerated sharply, turning negative at -0.05% in Q2 2026 from 0.77% in Q1 2026 (QoQ) and from 0.70% in Q2 2025 (YoY), falling 27 bps below the national rate of 0.22% — a meaningful headwind for future income generation.

The risk profile for Georgia CUs improved in Q2 2026. Delinquency decreased to 0.83% from 0.89% in Q1 2026 (QoQ), a 5 bp improvement, and is essentially stable versus 0.85% in Q2 2025 (YoY, -1 bp), now 4 bps better than the national benchmark of 0.88%. Net worth strengthened further, increasing to 14.69% from 14.43% in Q1 2026 and from 13.83% in Q2 2025 — an 86 bp year-over-year gain — sitting 88 bps above the national average of 13.81%. The capital and credit quality picture collectively supports a well-fortified balance sheet entering the second half of 2026.

Portfolio composition shifted modestly in Q2 2026. First mortgage concentration increased to 14.54% from 14.22% in Q1 2026 (QoQ, +0.33 pp) and from 13.59% in Q2 2025 (YoY, +0.95 pp), though it remains well below the national average of 22.22%. Indirect auto concentration held stable at 4.34% versus 4.29% last quarter and decreased from 4.78% a year ago, trailing the national rate of 7.71%. Share certificate concentration edged up to 20.16% from 20.05% in Q1 2026 and from 19.77% in Q2 2025, now marginally above the national average of 20.02%, reflecting continued member preference for fixed-rate savings.