Massachusetts Credit Unions

Member engagement showed mixed signals in Q4 2025. Member growth remained negative at -0.96% but accelerated from -1.45% in Q3, while still significantly below the positive 0.61% recorded a year ago. MPE decreased to 332.42% from 342.46% quarter-over-quarter, indicating operational efficiency challenges amid membership pressures.

Profitability metrics remained stable in Q4 2025. ROA held steady at 0.64%, down just 2 basis points from Q3 but up 9 basis points year-over-year from 0.54%. NIM similarly stabilized at 3.22%, declining 3 basis points quarter-over-quarter but improving 7 basis points from 3.15% a year ago.

Growth momentum accelerated across key metrics in Q4 2025. Asset growth reached 2.91%, accelerating from 2.73% quarter-over-quarter and surging from 1.32% year-over-year. Deposit growth accelerated to 3.12% from 2.93% in Q3, while loan growth decelerated to 0.91% from 1.25% quarter-over-quarter.

Risk metrics remained well-controlled in Q4 2025. Delinquency rates stayed stable at 0.66%, up just 1 basis point from Q3 and unchanged from a year ago, remaining 24 basis points below the national average. Net worth ratios held steady at 13.14%, down 4 basis points quarterly but up 19 basis points year-over-year.

Portfolio composition shifted toward traditional products in Q4 2025. First mortgage concentration increased to 37.39%, up 0.66 percentage points year-over-year and well above the national 21.97%. Certificate deposits rose to 24.98%, up 1.56 percentage points annually, while indirect auto lending remained minimal at 2.41%.