Missouri Credit Unions

Member engagement deteriorated sharply in 2026-Q1. Member growth decelerated to -0.52% from a near-flat -0.01% in 2025-Q4 — a QoQ decline of 0.51 pp — and collapsed from +1.62% in 2025-Q1, a year-over-year deceleration of 2.13 pp. While Missouri CUs sit 13 basis points above the national member growth rate of -0.65%, the trajectory is concerning: the cohort has moved from meaningful growth to contraction within four quarters. Retaining and deepening existing member relationships will be critical as acquisition momentum fades.

Profitability presented a mixed picture in 2026-Q1. ROA decreased to 0.63% from 0.72% in 2025-Q4, a QoQ decline of 10 bps, leaving Missouri CUs 5 bps below the national benchmark of 0.67%. On a year-over-year basis, however, ROA increased from 0.57% in 2025-Q1 — a gain of 5 bps — suggesting underlying improvement despite the quarterly pullback. NIM remained stable at 3.79%, down just 4 bps from 3.83% last quarter and up 1 bp from 3.77% a year ago, holding 9 bps above the national 3.70% and providing a modest structural cushion.

Asset growth accelerated modestly to 4.02% in 2026-Q1 from 3.90% in 2025-Q4, outpacing the national benchmark of 2.64% by 1.39 percentage points. On a year-over-year basis, however, asset growth decelerated from 4.96% in 2025-Q1 — a decline of 0.94 pp — indicating that the pace of expansion is cooling over a longer horizon. Loan growth decelerated to 0.21% from 0.86% in 2025-Q4, now 10 bps below the national rate of 0.31%. The divergence between robust asset growth and sluggish loan growth warrants attention, as investment portfolio or liquidity positioning may be driving balance sheet expansion.

The risk profile for Missouri CUs showed improvement quarter-over-quarter but deterioration year-over-year. Delinquency decreased to 0.77% in 2026-Q1 from 0.87% in 2025-Q4 — a QoQ improvement of 0.11 pp — and sits just 1 bp below the national benchmark of 0.78%. However, delinquency increased 0.12 pp from 0.65% in 2025-Q1, reflecting building credit stress over the past year. Net charge-offs similarly decreased to 0.39% from 0.49% last quarter, though they remain 4 bps above the national 0.35%. Net worth decreased to 11.74% from 11.96% in 2025-Q4, though it increased from 11.62% a year ago, remaining 1.87 pp below the national 13.61%.

Portfolio composition shifted modestly in 2026-Q1. First mortgage concentration edged down 6 bps QoQ to 16.23% but is up 0.64 pp from 15.59% in 2025-Q1, remaining well below the national benchmark of 22.15% — suggesting Missouri CUs are underweighted in long-duration real estate relative to peers. Indirect auto concentration continued its retreat, falling 0.26 pp QoQ to 9.78% and down 1.02 pp year-over-year from 10.79%, though still above the national 7.73%. Share certificate concentration dipped slightly to 18.07% from 18.25% last quarter but rose 0.88 pp year-over-year, approaching the national 19.80% as members gravitate toward rate-sensitive deposits.