Oregon Credit Unions

Member engagement showed mixed signals in Q4 2024. Growth accelerated to 0.13% from -0.06% quarter-over-quarter, indicating improved momentum, but dramatically decelerated from 7.45% year-over-year, reflecting a significant cooling from prior year's exceptional expansion. Oregon credit unions remain 83 basis points above the national benchmark.

Profitability demonstrated resilience with ROA declining modestly to 0.74% from 0.80% quarter-over-quarter but improving from 0.67% year-over-year. NIM remained stable at 3.90%, up 5 basis points quarterly and 27 basis points annually. Both metrics exceed national benchmarks, indicating strong operational efficiency despite headwinds.

Growth patterns diverged significantly across portfolios. Asset growth decelerated sharply to 0.21% from 1.72% quarterly and 11.46% annually, falling below national benchmarks. However, loan growth accelerated to 2.22% from 2.10% quarterly, substantially outpacing the 0.52% national average, while deposit growth decelerated to 0.18%.

Risk metrics deteriorated notably as delinquencies increased to 1.12% from 0.85% quarterly and 0.80% annually, now 22 basis points above national levels. Net worth strengthened to 13.22%, up 12 basis points quarterly and 86 basis points annually, providing a buffer against emerging credit pressures.

Portfolio composition remained relatively stable with first mortgages at 26.51%, down 29 basis points year-over-year but well above the 21.97% national average. Indirect auto lending at 13.69% significantly exceeds national norms, while certificate concentrations at 16.56% remain below national levels, indicating balanced funding strategies.