Iowa Credit Unions

Member engagement deteriorated meaningfully in 2026-Q1. Member growth decelerated to -0.95%, worsening from -0.72% in 2025-Q4 (a 0.22 pp QoQ decline) and collapsing from +1.83% in 2025-Q1 — a 2.78 pp year-over-year swing into negative territory. Iowa CUs now trail the national member growth rate of -0.65% by 30 basis points. The shift from positive to negative membership growth within a single year signals a structural engagement challenge that financial strength alone cannot mask. Retaining and attracting members must become a strategic priority.

Iowa CU profitability remained a clear strength in 2026-Q1. ROA was stable at 0.88%, essentially unchanged from 0.88% in 2025-Q4, and increased 8 bps from 0.80% in 2025-Q1 — placing Iowa CUs 20 bps above the national benchmark of 0.67%. NIM was similarly stable quarter-over-quarter at 3.84% (down just 1 bp from 3.85% in 2025-Q4) while expanding 14 bps year-over-year from 3.69% in 2025-Q1, and exceeding the national NIM of 3.70% by 14 bps. Iowa CUs are generating superior returns on both assets and interest income relative to national peers.

Balance sheet growth accelerated across most dimensions in 2026-Q1. Asset growth accelerated to 3.18% from 3.10% in 2025-Q4 (up 0.08 pp QoQ) and from 2.81% in 2025-Q1 (up 0.37 pp YoY), comfortably outpacing the national rate of 2.64%. Deposit growth accelerated to 2.77% from 2.70% in 2025-Q4 (up 0.07 pp), beating the national 2.16% by 61 bps. Loan growth, however, decelerated to 1.11% from 1.33% in 2025-Q4 (down 0.22 pp), though it still leads the national rate of 0.31% by a substantial 79 bps. YoY loan growth data is unavailable for direct comparison.

Iowa CUs' risk profile showed modest improvement quarter-over-quarter but remains elevated relative to national peers. Delinquency decreased to 0.91% in 2026-Q1 from 1.00% in 2025-Q4 — a 9 bp improvement — and was essentially stable year-over-year against the 0.91% recorded in 2025-Q1. Nevertheless, the 0.91% rate sits 13 bps above the national benchmark of 0.78%, indicating persistent credit stress. Net worth decreased slightly to 14.57% from 14.67% in 2025-Q4 (down 0.11 pp) but increased 0.49 pp from 14.08% in 2025-Q1, remaining a robust 95 bps above the national 13.61%.

Iowa CUs' portfolio composition shifted modestly in 2026-Q1. First mortgage concentration increased to 21.77% from 21.53% in 2025-Q4 (up 0.24 pp QoQ) and from 21.10% in 2025-Q1 (up 0.67 pp YoY), though it remains just below the national 22.15%. Indirect auto concentration was stable QoQ at 9.18% (down 0.04 pp from 9.22% in 2025-Q4) but decreased 0.29 pp YoY from 9.47%, remaining above the national 7.73%. Share certificate concentration decreased to 21.81% from 21.99% in 2025-Q4 (down 0.18 pp) but increased 0.21 pp YoY from 21.60%, well above the national 19.80%.