Utah Credit Unions

Member engagement showed mixed signals as growth remained negative at -0.12% in Q3 2025, though accelerating from -0.27% in Q2 2025. The year-over-year comparison shows dramatic deterioration from 4.80% growth in Q3 2024. Utah credit unions outperformed the national average by 49 basis points, suggesting localized challenges rather than systemic issues.

Profitability metrics remained robust with ROA stable at 0.89% quarter-over-quarter from 0.86%, while showing strong year-over-year improvement from 0.80%. NIM expanded to 3.42% from 3.37% quarterly and 3.20% annually. Despite trailing the national NIM by 31 basis points, Utah credit unions maintained superior ROA performance, exceeding national levels by 11 basis points.

Growth patterns showed divergent trends as asset growth decelerated to 3.41% from 4.27% quarter-over-quarter, while loan growth accelerated to 0.52% from 0.19%. Deposit growth accelerated strongly to 4.67% from 4.17% quarterly. Utah credit unions significantly outpaced national growth rates across all categories, with deposit growth exceeding national levels by 2.36 percentage points.

Risk metrics presented a mixed profile as delinquencies increased to 0.68% from 0.62% quarter-over-quarter and 0.56% year-over-year. However, net worth ratios strengthened to 14.16% from 13.94% quarterly and 13.13% annually. Utah credit unions maintained favorable risk positioning, with delinquencies 17 basis points below national levels and net worth ratios 48 basis points above national benchmarks.

Portfolio composition shifted toward certificates, rising to 27.90% from 26.67% year-over-year, significantly exceeding the national concentration of 19.60%. Indirect auto lending declined to 7.37% from 8.23% annually, while first mortgage concentrations decreased to 19.58% from 19.93%. These shifts reflect strategic positioning in higher-yield deposit products amid rate environment changes.