The National Credit Union Administration just released its Q1 2026 numbers. We’re talking $2.48 trillion in total assets across federally insured credit unions — that’s up $117 billion, or 4.9 percent, from last year.
But let’s break down what’s actually happening behind these big numbers, because there’s more to the story than just impressive growth figures.
The Lending Boom Continues
Credit unions aren’t just sitting on piles of cash. They’re actually putting that money to work. Total loans outstanding jumped $76 billion year-over-year to hit $1.73 trillion — a 4.6 percent increase. The average loan balance also climbed to $19,557, up $858 from the same time last year.
Translation? More people are borrowing from credit unions, and they’re borrowing slightly more on average. Whether that’s for cars, homes, or finally renovating that kitchen, credit unions are clearly meeting member demand.
Key Numbers Worth Knowing
Here’s what else stood out from the NCUA’s latest quarterly data dump:
- Loan-to-share ratio: Ticked down slightly to 81.5 percent from 81.8 percent last year. This basically measures how much of members’ deposits are being loaned back out — a healthy balance between lending and maintaining liquidity.
- Net income: Credit unions collectively earned $20.4 billion annualized through Q1 2026. That’s a whopping 30.5 percent jump — or $4.8 billion more — compared to the same period in 2025. Not too shabby.
- Membership growth: 2.5 million new members joined federally insured credit unions over the past year, bringing total membership to 145.8 million. Apparently, the member-owned cooperative model is still resonating with people.
The Consolidation Story Continues
Here’s the one trend that’s been consistent for years: there are fewer credit unions overall. The total count dropped to 4,250 institutions in Q1 2026, down from 4,411 the year before. That’s 2,672 federal credit unions and 1,578 state-chartered ones.
Before you panic, this isn’t necessarily bad news. The industry has been consolidating for decades as smaller credit unions merge with larger ones to stay competitive and offer better services. Think of it less like businesses closing and more like credit unions joining forces — Avengers-style, but for financial services.
Where to Find the Full Data
If you’re the type who likes to dig into spreadsheets (no judgment — we get it. NCUA makes credit union system performance data available in the Credit Union Analysis section of NCUA.gov. The analysis section includes quarterly data summaries and detailed financial information, a graphics package illustrating financial trends in federally insured credit unions, and a spreadsheet listing all federally insured credit unions that filed a call report as of March 31, 2026, including key metrics, including key metrics.