Titans Credit Unions

Member engagement showed concerning deceleration trends in Q4 2025. Growth slowed to 3.16% from 3.59% quarter-over-quarter and dropped significantly from 5.13% a year prior—the steepest year-over-year decline among all credit union tiers. While Titans maintained their position 3.86 percentage points above the national average of -0.69%, the 1.97 percentage point annual deceleration signals structural headwinds in member acquisition at massive scale. This trajectory suggests the traditional advantages of size may be diminishing in digital-first member acquisition channels.

Profitability metrics presented a mixed but stable picture in Q4 2025. ROA held steady at 0.73%, matching the national benchmark, with minimal quarter-over-quarter movement from 0.76% but showing solid year-over-year improvement from 0.56%. NIM remained stable at 3.12% quarter-over-quarter while advancing 23 basis points year-over-year from 2.89%, though still trailing the national average by 60 basis points. The margin recovery that began in 2024 has consolidated, but Titans lag behind Large tier institutions in ROA efficiency, highlighting the emerging structural costs of operating at $50B+ scale.

Balance sheet growth accelerated strongly across multiple fronts in Q4 2025. Asset growth surged to 6.25% from 4.36% quarter-over-quarter and 2.62% year-over-year, positioning Titans 3.15 percentage points above the national benchmark. Deposit growth accelerated to 6.83% from 6.48% last quarter, significantly outpacing the national rate of 2.57%. Loan growth decelerated slightly to 6.11% from 6.37% quarter-over-quarter but remained robust at 5.59 percentage points above national levels. This growth momentum demonstrates Titans' continued ability to capture market share despite member acquisition challenges.

Risk metrics revealed elevated stress levels characteristic of the Titans tier in Q4 2025. Delinquencies remained stable at 1.19% quarter-over-quarter but increased from 1.08% year-over-year, positioning Titans 29 basis points above the national average and representing the highest delinquency rate among all tiers. Net worth declined to 10.14% from 10.22% quarter-over-quarter while remaining essentially flat year-over-year, leaving Titans 3.54 percentage points below the national benchmark. This capital compression reflects the structural reality of managing diverse, large-scale member bases with broader credit risk profiles.

Portfolio composition remained heavily concentrated in first mortgages at 41.24%—nearly double the national average of 21.97% and representing a 2.01 percentage point increase year-over-year. Certificate concentrations held steady at 31.44%, down modestly from 31.71% a year prior but still well above the national rate of 19.80%. Indirect auto lending decreased to 14.14% from 15.52% year-over-year, though remaining elevated versus the national benchmark of 7.78%. This mortgage-heavy positioning creates significant exposure to rate lock-in effects that may suppress refinance activity and limit relationship deepening opportunities.