Louisiana Credit Unions

Member engagement remains the cohort's most persistent vulnerability. Member growth held at -1.55% in 2026-Q2, essentially stable from -1.52% in 2026-Q1 (a change of just -0.03 pp), marking five consecutive quarters of contraction since 2025-Q1's last positive reading of +2.32%. On a year-over-year basis, the trend has modestly improved — the -1.55% rate compares favorably to -1.78% in 2025-Q2 — but the cohort still runs 85 basis points below the national benchmark of -0.69%, signaling that member attrition is a structural, not cyclical, challenge.

Profitability delivered the quarter's clearest bright spot. ROA climbed to 0.83% in 2026-Q2, up 0.28 pp from 0.55% in 2026-Q1 and up 0.31 pp from 0.52% in 2025-Q2, narrowing the gap to the national benchmark of 0.89% to just 6 basis points. Net interest margin held steady at 4.16%, essentially unchanged from 4.13% last quarter (+0.03 pp) and 4.17% a year ago (-0.01 pp), yet remains a notable 42 basis points above the national NIM of 3.74% — a durable income advantage that underpins the earnings recovery.

Asset growth has been positive for nine consecutive quarters since 2024-Q2, reaching 0.36% in 2026-Q2 — stable from 0.31% in 2026-Q1 (+0.05 pp QoQ) and accelerated from 0.27% in 2025-Q2 (+0.09 pp YoY). However, the cohort trails the national asset growth rate of 2.63% by 2.27 percentage points. Loan growth continues to decelerate, falling to -3.72% in 2026-Q2 from -3.53% in 2026-Q1 (-0.19 pp QoQ) and from -2.50% in 2025-Q2 (-1.22 pp YoY), now five consecutive quarters negative and 3.94 percentage points below the national 0.22% rate.

The risk profile presents a mixed picture in 2026-Q2. Delinquency increased to 1.26% from 1.17% in 2026-Q1 (+0.09 pp QoQ), and at 39 basis points above the national benchmark of 0.88%, credit quality warrants close monitoring. However, the year-over-year view is more encouraging: delinquency has decreased from 1.44% in 2025-Q2 (-0.17 pp YoY), suggesting the worst may have passed. Net worth remains a standout strength at 17.34%, up 0.06 pp from 17.28% last quarter and up 0.27 pp from 17.08% a year ago — a 3.53 percentage point cushion above the national 13.81%.

Portfolio composition shifted modestly in 2026-Q2. Share certificates rose to 15.08% from 14.86% in 2026-Q1 (+0.23 pp QoQ) and from 14.24% in 2025-Q2 (+0.84 pp YoY), signaling a member preference for fixed-rate savings, though the cohort still trails the national certificate concentration of 20.02%. First mortgage concentration edged up to 11.47% from 11.37% last quarter (+0.10 pp QoQ) and 11.38% a year ago (+0.09 pp YoY), remaining well below the national 22.22%. Indirect auto held flat at 5.07% QoQ and rose just 0.06 pp YoY, trailing the national 7.71%.