Large Credit Unions

Member engagement among Large credit unions remains a standout story. Member growth held stable at 2.72% in Q1 2026 — unchanged from Q4 2025 on a quarter-over-quarter basis — and sits 3.37 percentage points above the national rate of -0.65%, which is itself negative. Year-over-year, growth decelerated from 3.10% in Q1 2025 to 2.72% in Q1 2026, a decline of 0.38 pp. Within the tier, 81.3% of Large credit unions are actively growing memberships, with individual institution rates ranging from -31.69% to 139.35%, underscoring meaningful dispersion beneath the cohort average.

Profitability among Large credit unions is a clear strength heading into 2026. ROA was stable quarter-over-quarter at 0.90% in Q1 2026, up just 0.01 pp from 0.89% in Q4 2025, but the year-over-year improvement is substantial — up 0.20 pp from 0.70% in Q1 2025, and now 22 basis points above the national benchmark of 0.67%. NIM expanded to 3.11%, increasing 0.11 pp from Q4 2025 and 0.24 pp from Q1 2025, though it remains 59 basis points below the national average of 3.70%. Notably, 98.5% of Large credit unions are profitable, with ROA ranging from -0.04% to 2.23%.

Growth dynamics for Large credit unions are broadly positive in Q1 2026. Asset growth of 6.23% decelerated marginally by 0.08 pp from 6.31% in Q4 2025, but accelerated dramatically year-over-year — up 3.56 pp from 2.68% in Q1 2025 — and stands 3.59 percentage points above the national rate of 2.64%. Loan growth accelerated to 5.12% from 4.77% last quarter, now 4.81 percentage points above the national rate of 0.31%. Within the tier, 90.6% of Large CUs are growing assets and 84.4% are growing loans, though individual loan growth ranges widely from -6.72% to 128.07%.

The risk profile for Large credit unions showed improvement quarter-over-quarter but mild deterioration year-over-year. Delinquency decreased to 0.63% in Q1 2026 from 0.72% in Q4 2025 — a decline of 0.08 pp — and remains 14 basis points below the national benchmark of 0.78%. However, delinquency increased 0.07 pp from 0.56% in Q1 2025, signaling a gradual upward trend on an annual basis. Individual delinquency rates span 0.07% to 2.68%, revealing meaningful dispersion. Net worth decreased 0.24 pp quarter-over-quarter to 11.16%, though it is stable year-over-year (+0.01 pp), remaining 2.46 percentage points below the national average of 13.61%.

Large credit unions continued to shift their portfolio composition in Q1 2026. First mortgage concentration declined to 37.85%, down 0.15 pp from 38.00% in Q4 2025 and down 1.60 pp from 39.45% in Q1 2025, yet still far exceeds the national average of 22.15%. Indirect auto concentration fell to 16.37%, down 0.52 pp quarter-over-quarter and 1.20 pp year-over-year, compared to the national rate of 7.73%. Share certificate concentration decreased to 28.64%, down 0.49 pp from Q4 2025 and 0.57 pp from Q1 2025, against a national level of 19.80% — suggesting a gradual normalization of higher-cost funding.