New Hampshire Credit Unions

Member engagement showed mixed signals in Q4 2025. Growth accelerated quarter-over-quarter to 0.85% from 0.55%, demonstrating improved near-term momentum. However, year-over-year growth decelerated significantly to 0.85% from 1.80% in Q4 2024, indicating longer-term headwinds. Despite challenges, NH credit unions maintained member growth 1.54 percentage points above the declining national benchmark of -0.69%.

Profitability deteriorated across both timeframes in Q4 2025. ROA decreased to 0.61% from 0.74% in Q3 and declined from 0.79% a year ago, now trailing the national benchmark by 13 basis points. NIM remained stable at 3.41%, essentially unchanged from 3.39% last quarter and 3.40% year-over-year, though 31 basis points below national levels.

Growth momentum accelerated strongly in Q4 2025. Asset growth reached 6.72%, accelerating from 5.21% in Q3 and 4.72% a year ago, substantially outperforming national levels by 3.61 percentage points. Deposit growth surged to 7.16% from 5.13% quarter-over-quarter, while loan growth decelerated to 2.89% from 3.57% but remained well above national benchmarks.

Risk metrics worsened significantly across both timeframes in Q4 2025. Delinquencies increased sharply to 0.75% from 0.44% in Q3 and 0.38% a year ago, though remained 15 basis points below national levels. Net worth stayed stable at 10.03%, essentially unchanged from 10.02% last quarter but up from 9.90% year-over-year, remaining 3.65 percentage points below national benchmarks.

Portfolio composition shifted toward more conservative positioning. Certificate concentration increased to 31.58%, up 4.60 percentage points year-over-year and significantly above the national 19.80%. First mortgage exposure decreased to 30.34% from 31.28% a year ago. Indirect auto lending remained elevated at 17.03%, substantially higher than national levels, reflecting continued risk appetite in consumer lending.