Mid-Market Credit Unions

Member growth held at 2.17% in 2026-Q2, essentially stable from 2.26-Q1's 2.13% (a gain of just 0.05 pp) but meaningfully accelerated from 2.03% in 2025-Q2 (+0.14 pp YoY). This marks the ninth consecutive quarter of positive member growth since 2024-Q2 — a sustained streak that stands 2.87 percentage points above the national average of -0.69%. Within the cohort, 73.2% of Mid-Market CUs are actively growing their memberships, while 26.8% continue to lose members, revealing meaningful dispersion beneath a healthy headline figure.

Profitability improved decisively in 2026-Q2. ROA increased to 0.84% from 0.73% in 2026-Q1 (+0.11 pp QoQ) and from 0.68% in 2025-Q2 (+0.16 pp YoY), closing to within 5 basis points of the national benchmark of 0.89%. NIM also expanded, rising to 3.39% from 3.32% last quarter (+0.06 pp QoQ) and from 3.20% a year ago (+0.18 pp YoY), though it remains 36 basis points below the national 3.74%. Notably, 100% of Mid-Market CUs reported positive ROA in 2026-Q2 — a cohort-wide achievement with no institutions underwater.

Growth across Mid-Market CUs accelerated on both a quarterly and annual basis in 2026-Q2. Asset growth reached 5.64%, up from 5.45% in 2026-Q1 (+0.20 pp QoQ) and from 4.18% in 2025-Q2 (+1.46 pp YoY) — more than double the national rate of 2.63%. Loan growth accelerated to 6.25% from 5.82% last quarter (+0.43 pp QoQ) and from 4.46% a year ago (+1.80 pp YoY), outpacing the national average of 0.22% by 6.04 percentage points. Breadth is strong: 87.9% of CUs are growing assets and 83.6% are growing loans.

The risk profile warrants attention after a quarter of mixed signals. Delinquency increased to 0.79% in 2026-Q2 from 0.68% in 2026-Q1 (+0.11 pp QoQ) and from 0.74% in 2025-Q2 (+0.05 pp YoY), though it remains 9 basis points below the national benchmark of 0.88%. Within the cohort, individual delinquency rates range from 0.02% to 6.91%, signaling significant dispersion. On the positive side, the net worth ratio increased to 11.35% from 11.15% last quarter (+0.20 pp QoQ) and from 11.09% a year ago (+0.26 pp YoY), though it trails the national 13.81% by 2.46 percentage points.

Mid-Market CUs carry a notably mortgage-heavy and certificate-rich balance sheet relative to national norms. First mortgage concentration stands at 34.20% in 2026-Q2, up 0.39 pp from 2025-Q2 and essentially flat from 34.15% in 2026-Q1 (+0.05 pp QoQ), far exceeding the national 22.22%. Indirect auto exposure declined to 17.99%, down 0.85 pp YoY, though still more than double the national 7.71%. Share certificate concentration continued rising to 29.07%, up 0.54 pp YoY and 0.23 pp from 2026-Q1, well above the national 20.02% — reflecting continued member appetite for term deposits.