Large Credit Unions

Member growth at Large credit unions remained positive in Q2 2026 at 2.00%, extending a streak of nine consecutive quarters of growth since Q2 2024 — a stark contrast to the national average of -0.69%. However, momentum has clearly decelerated: growth slipped from 2.72% in Q1 2026 (down 0.73 pp quarter-over-quarter) and from 2.78% in Q2 2025 (down 0.79 pp year-over-year). Within the cohort, 76.9% of Large CUs are growing membership, while 23.1% are declining, suggesting that the aggregate positive trend masks meaningful divergence across institutions.

Profitability at Large credit unions strengthened meaningfully in Q2 2026. ROA rose to 0.97%, up from 0.90% in Q1 2026 (+8 basis points quarter-over-quarter) and from 0.82% in Q2 2025 (+15 basis points year-over-year), placing the cohort 8 basis points above the national benchmark of 0.89%. Notably, 100% of Large CUs reported positive ROA, with individual results ranging from 0.12% to 2.39%. NIM held stable quarter-over-quarter at 3.15% (up just 4 basis points from Q1 2026) but improved 24 basis points year-over-year from 2.91%, though it trails the national average of 3.74% by 59 basis points.

Asset growth at Large credit unions accelerated to 6.34% in Q2 2026, up from 6.23% in Q1 2026 and sharply higher than 4.16% in Q2 2025 — a 2.19 pp year-over-year acceleration — now running 3.72 percentage points above the national rate of 2.63%. This marks nine consecutive quarters of positive asset growth since Q2 2024. Loan growth was stable quarter-over-quarter at 5.15% versus 5.12% in Q1 2026, but accelerated 0.31 pp year-over-year from 4.84% in Q2 2025, maintaining a five-quarter positive streak. Within the cohort, 87.7% of Large CUs are growing loans and 93.8% are growing assets.

The risk profile at Large credit unions showed modest deterioration in Q2 2026. Delinquency rose to 0.73%, up 10 basis points from 0.63% in Q1 2026 and up 9 basis points from 0.64% in Q2 2025 — increases on both a quarterly and annual basis. Individual delinquency rates across the cohort range from 0.13% to 2.68%, indicating wide dispersion beneath the aggregate. The cohort remains 15 basis points below the national delinquency benchmark of 0.88%. Net worth strengthened to 11.36%, up 0.20 pp from Q1 2026, though it is virtually unchanged from 11.35% a year ago and remains 2.45 percentage points below the national average of 13.81%.

Large credit unions continued to shift their portfolio composition in Q2 2026. First mortgage concentration declined to 37.56%, down 0.29 pp from 37.85% in Q1 2026 and down 1.22 pp from 38.78% in Q2 2025 — yet still far above the national average of 22.22%. Indirect auto exposure edged up 0.35 pp quarter-over-quarter to 16.71%, though it remains down 0.70 pp year-over-year from 17.41%, and more than double the national rate of 7.71%. Certificate concentration eased to 28.50%, down 0.14 pp from Q1 2026 and 0.71 pp from Q2 2025, still exceeding the national average of 20.02%.