Mid-Market Credit Unions

Member growth held at 2.13% in 2026-Q1, essentially stable quarter-over-quarter from 2.16% in 2025-Q4 (a -0.04 pp change), but decelerated year-over-year from 2.37% in 2025-Q1 — a -0.24 pp decline. Despite the slowdown, Mid-Market CUs outperform the national average of -0.65% by 2.77 pp, a meaningful advantage. Within the cohort, 72.9% of Mid-Market CUs are growing members while 26.8% are declining, revealing a divergence beneath the positive headline. Sustaining membership momentum will be critical as growth increasingly relies on deepening existing relationships rather than net new acquisition.

Profitability improved on both timeframes. ROA was stable quarter-over-quarter at 0.73%, up just 2 bps from 0.71% in 2025-Q4, but increased substantially year-over-year from 0.57% in 2025-Q1 — a +0.16 pp gain — placing Mid-Market CUs 6 bps above the national benchmark of 0.67%. NIM increased to 3.32% from 3.25% in 2025-Q4 (+8 bps QoQ) and from 3.15% in 2025-Q1 (+0.18 pp YoY), though it remains 38 bps below the national average of 3.70%. Encouragingly, 95.8% of Mid-Market CUs are profitable, with only 4.2% reporting negative ROA.

Asset growth decelerated modestly to 5.45% in 2026-Q1 from 5.82% in 2025-Q4 (-0.37 pp QoQ), but accelerated sharply year-over-year from 3.26% in 2025-Q1 (+2.18 pp YoY), standing 2.81 pp above the national average of 2.64%. Loan growth accelerated to 5.82% from 5.58% in 2025-Q4 (+0.24 pp QoQ), exceeding the national rate of 0.31% by 5.51 pp. Breadth is strong: 87.1% of Mid-Market CUs are growing assets and 81.8% are growing loans, indicating that expansion is broadly distributed across the cohort rather than concentrated among a few outliers.

The risk profile improved quarter-over-quarter. Delinquency decreased to 0.68% in 2026-Q1 from 0.83% in 2025-Q4 (-0.15 pp QoQ), and is essentially stable year-over-year versus 0.67% in 2025-Q1 (+0.01 pp). At 0.68%, Mid-Market delinquency sits 9 bps below the national benchmark of 0.78%. Within-cohort dispersion is wide, however — delinquency ranges from 0.03% to 6.63% — suggesting pockets of elevated stress. Net worth was stable QoQ at 11.15% (up 5 bps from 11.10% in 2025-Q4) and increased year-over-year from 10.99% in 2025-Q1 (+0.16 pp), though it trails the national average of 13.61% by 2.47 pp.

First mortgage concentration edged up to 34.15% in 2026-Q1 from 34.08% in 2025-Q4 (+0.07 pp QoQ) and from 33.93% in 2025-Q1 (+0.22 pp YoY), far exceeding the national average of 22.15%. Indirect auto declined to 18.03% from 18.23% in 2025-Q4 (-0.20 pp QoQ) and from 19.12% in 2025-Q1 (-1.10 pp YoY), still well above the national 7.73%. Share certificate concentration fell to 28.84% from 29.03% in 2025-Q4 (-0.19 pp QoQ) but increased year-over-year from 28.37% in 2025-Q1 (+0.48 pp), remaining notably above the national average of 19.80%, reflecting continued member preference for rate-sensitive deposit products.