Wyoming Credit Unions

Member engagement deteriorated in Q1 2026, with membership growth turning negative at -0.10% — a deceleration of 0.44 pp from the 0.34% posted in Q4 2025 and a sharp 1.97 pp drop from the 1.87% recorded in Q1 2025. On the positive side, Wyoming CUs still outperform the national average of -0.65% by 55 basis points, meaning the cohort is losing members at a slower rate than peers nationally. Nevertheless, the consistent downward trajectory across both QoQ and YoY comparisons signals that member acquisition and retention strategies warrant immediate reassessment.

Profitability remains above national benchmarks but is under pressure. ROA declined to 1.01% in Q1 2026 from 1.13% in Q4 2025 (down 0.12 pp QoQ) and from 1.09% in Q1 2025 (down 0.07 pp YoY), though it still sits 34 bps above the national 0.67%. NIM held essentially flat at 3.87%, essentially unchanged from 3.92% last quarter and 3.88% a year ago, and remains 17 bps above the national 3.70%. The pattern suggests margin compression is modest, but declining ROA points to rising non-interest expenses or provisioning as the more likely culprit to monitor.

Balance-sheet growth is a clear bright spot. Asset growth accelerated to 6.58% in Q1 2026, up 0.51 pp from 6.07% in Q4 2025 (QoQ) and up 3.03 pp from 3.55% in Q1 2025 (YoY), running nearly 4 percentage points ahead of the national 2.64%. Loan growth decelerated to 3.57% from 4.48% in Q4 2025, though it remains a substantial 3.26 pp above the national 0.31%. Year-over-year loan growth data is unavailable for direct comparison, but the current pace signals Wyoming CUs are still expanding their loan books at a notably aggressive rate relative to the industry.

The risk profile improved meaningfully in Q1 2026. Charge-offs decreased to 0.41% from 0.57% in Q4 2025 (down 0.15 pp QoQ) and from 0.55% in Q1 2025 (down 0.14 pp YoY), though they remain 6 bps above the national 0.35%. Delinquency was stable at 0.77%, essentially flat versus 0.82% last quarter and 0.76% a year ago, and sits 1 bp below the national 0.78% — a narrow but favorable position. Net worth held steady at 11.72%, up 0.42 pp from 11.30% a year ago but essentially unchanged from 11.76% last quarter, and trails the national 13.61% by 1.89 pp.

Portfolio composition shifted modestly in Q1 2026. First mortgage concentration declined to 18.27%, down 0.60 pp from 18.88% in Q4 2025 and down 0.84 pp from 19.12% in Q1 2025, remaining well below the national 22.15%. Indirect auto held stable at 19.31% versus 19.29% last quarter (up just 0.02 pp QoQ) but edged down 0.20 pp from 19.50% a year ago, yet still towers 11.58 pp above the national 7.73%. Share certificates rose 0.78 pp YoY to 26.39% from 25.62% in Q1 2025, though they ticked down 0.08 pp from 26.48% last quarter, sitting 6.59 pp above the national 19.80%.