Oregon Credit Unions

Member growth remained positive in Q2 2026 at 0.18%, marking the third consecutive positive quarter since 2025-Q4, but momentum is clearly fading. Growth decelerated 0.20 pp from Q1 2026's 0.38% and 0.26 pp from the 0.44% recorded in Q2 2025. Despite the slowdown, Oregon CUs hold a commanding 87-basis-point advantage over the national member growth rate of -0.69%, which has turned negative — a meaningful competitive distinction that underscores Oregon's relative member retention and acquisition strength even as internal momentum cools.

Profitability improved materially in Q2 2026. ROA increased to 0.83% from 0.70% in Q1 2026 — a gain of 0.13 pp — and equally from 0.70% recorded in Q2 2025, placing Oregon CUs just 6 bps below the national benchmark of 0.89%. NIM was stable quarter-over-quarter, edging up just 3 bps from 3.97% in Q1 2026 to 4.00% in Q2 2026, while on a year-over-year basis NIM increased 0.20 pp from 3.80% in Q2 2025. At 4.00%, Oregon's NIM exceeds the national average of 3.74% by 26 bps, providing a durable earnings buffer.

Asset growth accelerated sharply in Q2 2026, reaching 2.47% — up 1.02 pp from 1.45% in Q1 2026 and up 1.76 pp from 0.70% in Q2 2025, extending a positive streak now nine consecutive quarters since 2024-Q2. Oregon trails the national asset growth rate of 2.63% by just 16 bps. Loan growth decelerated to 1.28% from 2.32% in Q1 2026 (down 1.04 pp) and from 1.37% in Q2 2025 (down 0.10 pp), but remains positive for five consecutive quarters since 2025-Q2 and leads the national rate of 0.22% by 1.06 percentage points.

The risk profile worsened in Q2 2026. Delinquency increased to 1.05% from 0.96% in Q1 2026 — a rise of 9 bps — and from 0.81% in Q2 2025, a 25-bp year-over-year deterioration. Oregon now sits 18 bps above the national delinquency rate of 0.88%, signaling above-average credit stress. Partially offsetting this, net worth strengthened to 13.35% from 13.25% in Q1 2026 (up 0.11 pp) and from 12.62% in Q2 2025 (up 0.73 pp), though it remains 46 bps below the national benchmark of 13.81%, leaving limited cushion against further loan quality deterioration.

Oregon CUs' loan portfolio reflects a first-mortgage-heavy composition, with first mortgages at 26.22% of loans — down 0.25 pp from Q1 2026 and 0.34 pp from Q2 2025, yet still 4.00 pp above the national average of 22.22%. Indirect auto exposure eased to 13.61%, down 0.12 pp quarter-over-quarter and 0.24 pp year-over-year, but remains nearly double the national rate of 7.71%. Share certificate concentration edged up to 16.74% from 16.70% in Q1 2026 and 16.63% in Q2 2025, staying 3.28 pp below the national 20.02%, suggesting Oregon members favor more liquid deposit products.