Michigan Credit Unions

Member engagement sent a cautionary signal in 2026-Q1: member growth turned negative at -0.05%, a dramatic deceleration of 1.47 pp from the 1.42% recorded in 2025-Q1 (YoY). On a brighter sequential note, the rate accelerated 0.17 pp from -0.22% in 2025-Q4 (QoQ), suggesting the pace of decline is easing. Michigan CUs still outperform the national benchmark of -0.65% by 60 basis points, but the year-over-year reversal from positive to negative territory is a meaningful shift that warrants monitoring heading into mid-2026.

Michigan CU profitability presents a tale of two timeframes. ROA decreased to 0.87% in 2026-Q1 from 0.94% in 2025-Q4 (QoQ, -8 bps), reflecting typical seasonal softness in the first quarter. Yet on a year-over-year basis, ROA increased from 0.75% in 2025-Q1 to 0.87% in 2026-Q1 (+0.12 pp), confirming a genuine improvement trend. At 0.87%, Michigan CUs sit 19 bps above the national benchmark of 0.67%. NIM held essentially stable QoQ at 3.73% versus 3.75% in 2025-Q4 (-2 bps), while expanding 0.12 pp from 3.61% a year ago — 3 bps above the national 3.70%.

Asset and loan growth momentum strengthened in 2026-Q1. Asset growth accelerated to 4.60% from 4.46% in 2025-Q4 (+0.13 pp QoQ), though it decelerated from 5.53% in 2025-Q1 (-0.93 pp YoY). Both readings comfortably exceed the national benchmark of 2.64% by 1.96 pp. Loan growth similarly accelerated to 3.34% in 2026-Q1 from 2.94% in 2025-Q4 (+0.40 pp QoQ), outpacing the national rate of 0.31% by a wide 3.03 pp margin. Year-over-year loan growth comparison data is unavailable, but the sequential acceleration signals broadening credit demand across the Michigan market.

Michigan CUs' risk profile improved materially on a quarter-over-quarter basis in 2026-Q1. Delinquency decreased to 0.67% from 0.85% in 2025-Q4 (-0.18 pp QoQ), and is stable relative to 0.67% in 2025-Q1 (YoY, +1 bp), placing the cohort 10 bps below the national benchmark of 0.78%. Net worth decreased modestly to 12.55% from 12.69% in 2025-Q4 (-0.14 pp QoQ), though it increased from 12.24% in 2025-Q1 (+0.31 pp YoY). At 12.55%, net worth remains 1.07 pp below the national average of 13.61%, representing an area for continued capital-building focus.

Michigan CUs' loan portfolio remains heavily weighted toward real estate. First mortgage concentration increased to 31.44% in 2026-Q1 from 31.02% in 2025-Q4 (+0.42 pp QoQ) and from 30.04% in 2025-Q1 (+1.40 pp YoY), sitting 9.29 pp above the national average of 22.15%. Indirect auto concentration decreased to 11.68% from 11.77% in 2025-Q4 (-10 bps QoQ) and from 12.01% a year ago (-0.33 pp YoY), yet still exceeds the national 7.73%. Share certificate concentration was stable at 18.64% versus 18.60% in 2025-Q4 (+4 bps QoQ) but increased from 17.88% a year ago (+0.76 pp YoY), approaching but still 1.16 pp below the national 19.80%.