New York Credit Unions

Member engagement deteriorated further in Q2 2026, with membership growth declining to -0.91% — down from -0.83% in Q1 2026 (QoQ) and sharply worse than -0.34% in Q2 2025 (YoY). This marks the fifth consecutive quarter of negative member growth, last turning positive at +2.96% in Q1 2025. New York's -0.91% rate sits 22 basis points below the national benchmark of -0.69%, meaning NY credit unions are losing members faster than the industry average. The widening gap between loan growth recovery and continued membership decline signals a deepening engagement challenge.

Profitability was the clear bright spot for New York credit unions in Q2 2026. ROA surged to 0.96%, up 24 bps from 0.73% in Q1 2026 (QoQ) and up 11 bps from 0.86% in Q2 2025 (YoY), placing the cohort 8 bps above the national benchmark of 0.89%. NIM held essentially stable at 3.60%, edging up just 3 bps both quarter-over-quarter and year-over-year, and remains 14 bps below the national average of 3.74%. The ROA outperformance despite a below-national NIM suggests cost discipline or non-interest income are contributing meaningfully to the earnings improvement.

Asset growth decelerated to 2.33% in Q2 2026, down from 2.92% in Q1 2026 (QoQ) and from 2.82% in Q2 2025 (YoY), landing 30 bps below the national benchmark of 2.63%. Despite the slowdown, this marks the ninth consecutive quarter of positive asset growth since Q2 2024. Loan growth, meanwhile, accelerated to 0.09% in Q2 2026 from -0.03% in Q1 2026 (QoQ) and from -0.28% in Q2 2025 (YoY) — a notable inflection, though still 13 bps below the national rate of 0.22%. The loan recovery is encouraging, but the pace remains modest and the cohort has not yet matched national loan growth.

The risk profile for New York credit unions showed modest stress in Q2 2026. Delinquency was stable quarter-over-quarter at 0.91%, up just 5 bps from 0.86% in Q1 2026, but increased 7 bps from 0.84% in Q2 2025 (YoY), placing the cohort 3 bps above the national benchmark of 0.88%. The year-over-year drift upward warrants monitoring even if the quarterly move was contained. Net worth, however, improved meaningfully, rising to 13.54% from 13.33% in Q1 2026 (QoQ) and from 12.91% in Q2 2025 (YoY), though it remains 27 bps below the national benchmark of 13.81%, indicating continued capital building progress.

New York credit unions maintained a mortgage-heavy portfolio in Q2 2026, with first mortgage concentration at 24.72% — up 0.46 pp from 24.26% in Q2 2025 (YoY) and essentially stable from 24.76% in Q1 2026 (QoQ), running 2.50 pp above the national average of 22.22%. Indirect auto exposure remains minimal at 2.74%, up 0.11 pp year-over-year from 2.63%, and far below the national 7.71%. Certificate concentration rose to 16.38%, up 1.05 pp from 15.33% in Q2 2025 (YoY) and nearly flat from 16.36% in Q1 2026 (QoQ), though still 3.64 pp below the national average of 20.02%.