Nebraska Credit Unions

Member engagement deteriorated on a year-over-year basis but showed partial recovery quarter-over-quarter. Membership growth accelerated from -1.75% in 2025-Q4 to -0.76% in 2026-Q1 — a positive sequential signal — but the year-over-year picture is stark: membership declined 1.95 pp from the 1.19% growth recorded in 2025-Q1. The cohort now sits 12 basis points below the national member growth rate of -0.65%. The recovery from the 2025-Q4 trough is encouraging, but the year-over-year reversal from positive to negative territory raises questions about long-term member retention strategies.

Profitability presents a mixed picture across time horizons. ROA was effectively stable at 0.64% in 2026-Q1, unchanged from 2025-Q4 (a negligible -0.007 pp shift), but has decreased 11 bps from 0.74% in 2025-Q1, leaving the cohort 4 bps below the national 0.67% benchmark. NIM, however, is a clear bright spot: it increased 9 bps quarter-over-quarter to 4.11% and rose 23 bps year-over-year from 3.88%, sitting 41 bps above the national 3.70%. Margin expansion has not yet translated into stronger bottom-line returns, suggesting cost pressures or provisioning are absorbing the NIM gains.

Growth decelerated across the board in 2026-Q1. Asset growth slowed to 1.00% from 1.51% in 2025-Q4 (QoQ deceleration of 0.50 pp) and dramatically from 4.46% in 2025-Q1 (YoY deceleration of 3.46 pp), now trailing the national 2.64% by 1.64 pp. Loan growth decelerated to 0.43% from 1.05% in 2025-Q4, though it edges above the national 0.31% by 11 bps. Year-over-year loan growth data is unavailable for direct comparison. While loan growth still modestly outpaces the national rate, the sustained deceleration in assets signals a meaningful pullback in balance sheet expansion.

The risk profile is stable quarter-over-quarter but has worsened meaningfully year-over-year. Delinquency held flat at 0.96% from 2025-Q4 to 2026-Q1 (0.000 pp change), providing short-term reassurance, but has increased 15 bps from 0.82% in 2025-Q1, placing the cohort 19 bps above the national 0.78% benchmark. Net worth decreased modestly from 13.31% in 2025-Q4 to 13.16% in 2026-Q1 (-0.16 pp), though it remains 61 bps above the 12.55% recorded in 2025-Q1 — a solid year-over-year gain. At 13.16%, net worth trails the national 13.61% by 46 bps, leaving limited cushion if credit quality continues to erode.

Portfolio composition shifted modestly in 2026-Q1. First mortgage concentration rose 45 bps quarter-over-quarter to 18.28% but is virtually unchanged year-over-year (-0.03 pp from 18.31% in 2025-Q1), remaining well below the national 22.15%. Indirect auto exposure is stable QoQ at 5.53% (down just 2 bps from 2025-Q4) and decreased 45 bps year-over-year from 5.98%, sitting below the national 7.73%. Share certificate concentration dipped 17 bps QoQ to 22.11% but increased 25 bps year-over-year from 21.85%, exceeding the national 19.80% — reflecting continued member preference for higher-rate term deposits in the cohort.