New Hampshire Credit Unions

Member engagement softened modestly in Q2 2026. Member growth decelerated to -0.05% from 0.06% in Q1 2026 (QoQ) and from 0.03% in Q2 2025 (YoY), reflecting a slight contraction in the membership base. That said, NH credit unions still outperform the national benchmark of -0.69% by 64 basis points, a meaningful cushion. The deceleration across both timeframes suggests the cohort is not immune to broader membership pressures, and sustaining even flat membership will require targeted acquisition and retention strategies in coming quarters.

Profitability remains a clear strength for NH credit unions. ROA was essentially stable at 0.91% in Q2 2026 versus 0.93% in Q1 2026 (a modest -2 bps QoQ shift), while the year-over-year comparison tells a stronger story — ROA climbed 23 basis points from 0.68% in Q2 2025, now sitting 3 bps above the national benchmark of 0.89%. NIM contributed positively, rising 8 bps QoQ to 3.53% and 6 bps YoY from 3.47%, though it remains 22 basis points below the national average of 3.74%, leaving room for further margin improvement.

Asset growth remained strong and stable in Q2 2026 at 4.73%, essentially unchanged from 4.78% in Q1 2026 (-5 bps QoQ, STABLE), while accelerating modestly from 4.68% in Q2 2025 (+5 bps YoY). This marks nine consecutive quarters of positive asset growth since Q2 2024, outpacing the national rate of 2.63% by 2.11 percentage points. Loan growth, however, decelerated to 1.56% from 2.01% in Q1 2026 (-0.44 pp QoQ) and from 2.79% in Q2 2025 (-1.23 pp YoY), though it remains positive for five straight quarters and leads the national rate of 0.22% by 1.35 percentage points.

The NH cohort's risk profile remains favorable despite minor near-term movement. Delinquency was stable at 0.31% in Q2 2026, edging up just 5 bps from 0.27% in Q1 2026 (QoQ), but improving sharply from 0.56% in Q2 2025 (-25 bps YoY) — sitting 56 basis points below the national benchmark of 0.88%. Net worth strengthened to 10.20%, up 12 bps QoQ from 10.08% and up 33 bps YoY from 9.87%, though it trails the national average of 13.81% by 3.61 percentage points, a gap that merits sustained capital-building discipline.

Portfolio composition shifted notably over the past year. First mortgage concentration dipped to 29.76% in Q2 2026, down 0.51 pp from Q1 2026 and 0.41 pp from Q2 2025, though it remains well above the national average of 22.22%. Indirect auto concentration rose to 17.23%, up 0.19 pp QoQ and 1.64 pp YoY from 15.59%, more than double the national rate of 7.71%. Share certificates surged to 30.91%, up from 31.25% in Q1 2026 (-0.34 pp QoQ) but sharply higher than 28.30% in Q2 2025 (+2.61 pp YoY), far exceeding the national certificate share of 20.02%, signaling strong member preference for fixed-rate savings.