Federally insured credit unions in the United States held $2.48 trillion in assets as of March 31, 2026, spread across 4,250 institutions serving 145.8 million members. Total loans outstanding increased 4.6% over the year to $1.73 trillion, and the average outstanding loan balance reached $19,557. The system’s aggregate net worth ratio stood at 11.24% in the first quarter of 2026, up from 10.95% one year earlier.
Those totals hide a wide spread. 30 credit unions report a net worth ratio below 6, while the median among institutions holding less than $10 million in assets is 17.56. The figures below break the system down by institution, asset tier, and state, using NCUA’s own quarterly filings.
Key Takeaways
- The number of federally insured credit unions fell to 4,250 in the first quarter of 2026, from 4,411 one year earlier.
- Federally insured credit unions added 2.5 million members over the year, and membership reached 145.8 million.
- The median net worth ratio across all 4,250 federally insured credit unions is 12.45, above the system’s asset-weighted aggregate.
- 64 credit unions sit below the net worth ratio of 7.0% that separates a well-capitalized institution from an adequately capitalized one.
- 13.5 percentage points separate the system’s 81.5% aggregate loan-to-share ratio from the 68% national median.
- 2,379 credit unions carry a low-income designation, 56% of all federally insured institutions.
- Capital strength runs inverse to scale: the median net worth ratio falls from 17.56 in the smallest asset tier to 10.23 among credit unions above $10 billion.
Editor’s Choice
- Total loans outstanding increased $76 billion over the year, to $1.73 trillion.
- $2.12 trillion in total shares and deposits, up 5.1% over the year.
- The credit union system’s net worth increased by $19.9 billion, or 7.7%, over the year to $279.2 billion.
- $20.4 billion in net income at an annual rate through the first quarter of 2026.
- $203.56 billion in assets at Navy Federal Credit Union, the largest institution in the system.
- $24.5 billion in total assets held by the Share Insurance Fund.
Credit Union Statistics: Assets and Membership
- Total assets rose $117 billion, or 4.9%, over the year ending in the first quarter of 2026.
- The average outstanding loan balance was $19,557, up $858 from one year earlier.
- Insured shares and deposits rose $76 billion, or 4.2%, to $1.91 trillion.
- Regular shares increased $14.6 billion, or 2.5%, to $590.4 billion.
- Other deposits grew $67.8 billion, or 6.5%, to $1.11 trillion, led by a $35.7 billion increase in share certificate accounts.
- Money market accounts added $30.5 billion, a rise of 8.7%.
- The system splits into 2,672 federal credit unions and 1,578 federally insured, state-chartered credit unions.
- 748 institutions now qualify as complex credit unions, holding more than $500 million in assets each, up from 740 a year earlier.
About This Data
Every figure traces to 14 verbatim excerpts drawn from 7 tier 1 documents, none of them aggregators or market-research sellers. Five are NCUA filings and raw Call Report files dated June 9 to June 24, 2026. One is the Code of Federal Regulations, current through September 2026. The last is Navy Federal’s own May 12, 2026 announcement, the only self-reported source.
| Metric | March 31, 2026 | Change over the year |
|---|---|---|
| Total assets | $2.48 trillion | Up $117 billion, or 4.9% |
| Total loans outstanding | $1.73 trillion | Up $76 billion, or 4.6% |
| Total shares and deposits | $2.12 trillion | Up $102.3 billion, or 5.1% |
| Insured shares and deposits | $1.91 trillion | Up $76 billion, or 4.2% |
| Members | 145.8 million | Up 2.5 million |
| Federally insured credit unions | 4,250 | Down from 4,411 |
| Average outstanding loan balance | $19,557 | Up $858, or 4.6% |
| Loan-to-share ratio | 81.5% | Down from 81.8% |
| Aggregate net worth ratio | 11.24% | Up from 10.95% |
Source: NCUA Quarterly Credit Union Data Summary 2026 Q1 and the NCUA first quarter 2026 system performance release, June 9, 2026
Credit union statistics usually stop at system totals, which answer the wrong question for most readers. Per NCUA, the capital ratio of any single institution sits in Account 998 of the same filing.
Net Worth Ratios at the 12 Largest Credit Unions
- Navy Federal Credit Union reported a net worth ratio of 11.37 on $203.56 billion in assets and 15.35 million members.
- Boeing Employees reported 12.23, the highest ratio among the five largest institutions, on $30.01 billion in assets.
- Pentagon reported 10.47 on $29.40 billion in assets and 2.76 million members.
- SchoolsFirst reported 9.39, the lowest ratio among the five largest, on $36.74 billion in assets.
- State Employees’ of Raleigh reported 9.98 on $59.76 billion in assets, the second-largest balance sheet in the system.
- America First reported 11.61 on $24.73 billion in assets, and Ent reported 11.54 on $19.48 billion.
- Suncoast reported 9.99, The Golden 1 9.94, and First Technology 10.51. Mountain America reported 9.41 and Alliant 9.37, the lowest ratio among the twelve largest.
- Navy Federal alone accounts for 8.19% of all federally insured credit union assets.
- The ten largest credit unions together hold 19.23% of system assets.
The ranking below grades regulatory capital under 12 CFR 702, not deposit safety. Federal share insurance covers the bottom of the list exactly as the top.
| Rank | Credit union | Headquarters | Assets ($ billion) | Members (millions) | Net worth ratio (%) |
|---|---|---|---|---|---|
| 1 | Navy Federal | Vienna, VA | 203.56 | 15.35 | 11.37 |
| 2 | State Employees’ | Raleigh, NC | 59.76 | 2.98 | 9.98 |
| 3 | SchoolsFirst | Santa Ana, CA | 36.74 | 1.57 | 9.39 |
| 4 | Boeing Employees | Tukwila, WA | 30.01 | 1.58 | 12.23 |
| 5 | Pentagon Federal | McLean, VA | 29.40 | 2.76 | 10.47 |
| 6 | First Technology | San Jose, CA | 28.58 | 1.87 | 10.51 |
| 7 | America First | Riverdale, UT | 24.73 | 1.55 | 11.61 |
| 8 | Mountain America | Sandy, UT | 22.66 | 1.43 | 9.41 |
| 9 | The Golden 1 | Sacramento, CA | 21.74 | 1.20 | 9.94 |
| 10 | Suncoast | Tampa, FL | 20.54 | 1.39 | 9.99 |
| 11 | Alliant | Chicago, IL | 19.66 | 0.94 | 9.37 |
| 12 | Ent | Colorado Springs, CO | 19.48 | 0.95 | 11.54 |
Source: NCUA 2026Q1 Call Report, cycle date March 31, 2026
What are the top 25 credit unions in the United States?
The twelve largest federally insured credit unions run from Navy Federal Credit Union at $203.56 billion down to Ent at $19.48 billion. Ranks 13 through 25 sit in the same file. NCUA publishes the underlying data for all 4,250 institutions as raw Call Report tables, not a ranked list.
NCUA lists these under short charter names: Boeing Employees markets itself as BECU, Pentagon as PenFed. The ratios cluster between 9 and 13 at this size, which is itself the finding.
Recent Developments
- June 9, 2026: NCUA released first quarter 2026 credit union system performance data, reporting total assets of $2.48 trillion.
- June 17, 2026: NCUA released the Q1 2026 state-level credit union data report, showing median asset growth of 2.8% over the year.
- June 24, 2026: The NCUA Board received the Share Insurance Fund quarterly briefing, which recorded 3 credit union failures in the first quarter.
- NCUA issued an interim final rule intended to preempt any state law affecting non-interest charges and fees related to payment card services at federal credit unions.
- NCUA finalized a rule prohibiting the agency from instructing credit unions to close accounts or deny services on the basis of a person or entity’s protected class or political views.
- May 12, 2026: Navy Federal Credit Union published its 2025 annual report, citing more than $4.5 billion in collective member value returned during the year.
How the Net Worth Ratio Works Under Prompt Corrective Action
- The net worth ratio for prompt corrective action was 11.29% in the first quarter of 2026, and the calculation sits on Schedule G of the 5300 Call Report as Account 998.
- The aggregate ratio of 11.24% excludes the CECL transition provision, a treatment in force since the first quarter of 2023.
- The well-capitalized classification requires a net worth ratio of 7.0% or greater. A complex credit union must clear a risk-based capital ratio of 10% or a CCULR of 9.0% as well.
- Adequately capitalized means a net worth ratio of 6.0% or greater in a credit union holding less than the well-capitalized threshold. Complex credit unions must also hold a risk-based capital ratio of 8.0% or greater.
- Undercapitalized covers a net worth ratio of 4.0% or more but less than 6.0%, and critically undercapitalized means less than 2.0%.
- 2,769 credit unions report a net worth ratio of 11 or above, while 30 sit below 6.
- 748 institutions qualify as complex credit unions, of which 464 opted into the CCULR framework at an average of 12.00%.
- 284 credit unions reported under the risk-based capital framework at an average RBC ratio of 15.45%.
| Capital category | Net worth ratio threshold |
|---|---|
| Well capitalized | 7.0% or greater |
| Adequately capitalized | 6.0% or greater, and not well capitalized |
| Undercapitalized | 4.0% or more but less than 6.0% |
| Significantly undercapitalized | 2.0% or more but less than 4.0% |
| Critically undercapitalized | Less than 2.0% |
Source: 12 CFR 702.102, Capital classification, current through September 2026. The section excludes credit unions defined as “new” under subpart B. At complex credit unions, the well-capitalized, adequately capitalized, and undercapitalized categories also pair with a risk-based capital or CCULR test.
The ladder is set in 12 CFR 702.102, not by NCUA discretion. The thresholds do not move with the credit cycle.
Capital classification is not a guarantee. 30 federally insured credit unions reported a net worth ratio below 6 in the first quarter of 2026, placing them in the undercapitalized band or worse. Three institutions failed during the same quarter. The sources do not connect the two counts. Deposit protection comes from federal share insurance rather than from any individual balance sheet.
Are credit unions more trustworthy than banks?
Except for credit unions defined as “new” under subpart B, every federally insured credit union is classified against the same statutory capital ladder. Well capitalized sets its net worth ratio prong at 7.0% or greater, alongside a risk-based capital or CCULR test at complex credit unions. Across all 4,250 institutions, 98.49% clear that line. Trustworthiness is a judgment; capital classification and federal share insurance are its measurable parts.
Capital Strength by Credit Union Asset Tier
- The median net worth ratio is 17.56 among credit unions holding less than $10 million in assets.
- That median falls to 10.23 among the 24 credit unions above $10 billion in assets.
- The 24 credit unions above $10 billion account for $675.7 billion in assets and 41.10 million members.
- 778 credit unions under $10 million in assets hold $3.3 billion combined.
- 442 credit unions hold at least $1 billion and no more than $10 billion in assets, covering 70.13 million members and $1,291.6 billion in total.
- The most crowded band holds at least $10 million and less than $50 million in assets, with 1,125 institutions and $30.1 billion between them.
- The 24 credit unions above $10 billion control 27.20% of all federally insured credit union assets.
| Asset tier | Credit unions | Members (millions) | Assets ($ billion) |
|---|---|---|---|
| Under $10 million | 778 | 0.53 | 3.3 |
| $10 million to $50 million | 1125 | 2.92 | 30.1 |
| $50 million to $100 million | 563 | 3.13 | 40.9 |
| $100 million to $500 million | 1036 | 15.63 | 239.1 |
| $500 million to $1 billion | 282 | 12.32 | 203.3 |
| $1 billion to $10 billion | 442 | 70.13 | 1291.6 |
| Over $10 billion | 24 | 41.10 | 675.7 |
Source: NCUA 2026Q1 Call Report, cycle date March 31, 2026
The gradient runs one way almost without exception. Smaller credit unions cannot diversify risk the way a national balance sheet can, so the capital cushion does that work instead.
Credit Union Assets and Members by State
- California hosts 232 federally insured credit unions holding $317.1 billion in assets.
- Virginia holds $285.9 billion across just 95 credit unions and 21.33 million members.
- Texas has the most institutions of any state at 376, ahead of Pennsylvania at 272 and New York at 269.
- New York credit unions hold $133.8 billion, ahead of Florida at $125.0 billion across 107 institutions.
- Federal charters hold $1,299.2 billion, or 52.3% of system assets, against 47.7% for federally insured state charters.
- Assets increased 2.8% at the median over the year, while loans outstanding grew 0.6% at the median.
| State | Federally insured credit unions |
|---|---|
| Texas | 376 |
| Pennsylvania | 272 |
| New York | 269 |
| California | 232 |
| Illinois | 175 |
| Michigan | 170 |
| Ohio | 159 |
| Louisiana | 136 |
| New Jersey | 127 |
| Tennessee | 126 |
| Massachusetts | 122 |
| Indiana | 116 |
Source: National Credit Union Administration 2026Q1 Call Report, institutions by headquarters state, March 31, 2026
Virginia is a single-institution artifact. Navy Federal’s Vienna headquarters books most of the state total, which is why Virginia outranks Texas on assets with a quarter as many credit unions.
What Credit Unions Actually Lend Money For
- Loans secured by 1- to 4-family residential properties increased $57.1 billion, or 7.5%, to $814.0 billion.
- Auto loans contracted by $0.3 billion, or 0.1%, to $479.6 billion.
- Used auto loans grew $3.3 billion, or 1.0%, to $321.3 billion.
- New auto loans declined $3.6 billion, or 2.2%, to $158.3 billion.
- Credit card balances expanded $2.2 billion, or 2.6%, to $86.0 billion.
- Commercial loans excluding unfunded commitments increased $18.2 billion, or 10.2%, over the year to $196.3 billion.
- Non-federally guaranteed student loans edged down $0.5 billion, or 7.2%, to $6.4 billion.
- Residential mortgage lending now runs 1.70 times the size of the entire credit union auto book.
Auto lending is the historic core of the model, and it is the largest book that shrank. New-car paper carried the decline, a split that tracks the Auto-Loan Rate Gap between states.
Used vehicles now carry 66.99% of the credit union auto book. The wider car loan market shows the same tilt toward used paper. Residential lending now anchors the balance sheet the way autos once did, putting credit unions inside the mortgage lending market rather than adjacent to it.
Loan Growth and Delinquency Trends
- The delinquency rate at federally insured credit unions was 85 basis points in the first quarter of 2026, up 5 basis points from one year earlier.
- The credit card delinquency rate edged up 2 basis points over the year to 204 basis points.
- The auto loan delinquency rate was essentially unchanged at 80 basis points.
- Delinquency on non-commercial real estate loans reached 63 basis points, 9 basis points higher than a year earlier.
- Commercial loan delinquency excluding unfunded commitments was 101 basis points, up 8 basis points.
- The net charge-off ratio was 81 basis points, down 2 basis points compared with the first quarter of 2025.
- Credit card delinquency runs 2.40 times the all-loan average.
| Loan category | Year-over-year change (%) |
|---|---|
| Commercial | 10.2 |
| 1- to 4-family residential | 7.5 |
| Credit card | 2.6 |
| Used auto | 1.0 |
| Auto | -0.1 |
| New auto | -2.2 |
| Non-federally guaranteed student | -7.2 |
Source: NCUA Quarterly Credit Union Data Summary 2026 Q1, year to March 31, 2026
By the numbers: Credit union delinquency reached 85 basis points in the first quarter of 2026, up 5 basis points over the year, while the net charge-off ratio fell 2 basis points to 81 basis points. Arrears are building faster than losses are realized, which front-runs a provisioning cycle.
Cards are the pressure point. The stress sits on a much smaller balance than the mortgage and auto books, a pattern the broader credit card debt data repeats.
Credit Union Earnings and Profitability
- Net income totaled $20.4 billion at an annual rate through the first quarter of 2026, up $4.8 billion, or 30.5%.
- The net interest margin reached $84.7 billion at an annual rate, or 3.44% of average assets.
- Return on average assets was 83 basis points at an annual rate, against 67 basis points in the same period a year earlier.
- The median return on average assets across all federally insured credit unions was 66 basis points, up 4 basis points.
- 85% of federally insured credit unions posted positive year-to-date net income, compared with 84% a year earlier.
- The asset-weighted return on average assets runs 17 basis points ahead of the median credit union.
| Income measure | First quarter 2026 | Change over the year |
|---|---|---|
| Net income at an annual rate | $20.4 billion | Up $4.8 billion, or 30.5% |
| Net interest margin at an annual rate | $84.7 billion | 3.44% of average assets |
| Return on average assets | 83 basis points | Up from 67 basis points |
| Median return on average assets | 66 basis points | Up 4 basis points |
| Credit unions with positive net income | 85% | Up from 84% |
Source: NCUA Quarterly Credit Union Data Summary 2026 Q1 and Q1 2026 state-level report
Earnings power concentrates at the top. Commercial lending grew fastest of any book, and the small business lending data covers the same borrowers.
The Share Insurance Fund and Supervisory Risk
- The Share Insurance Fund held $24.5 billion in total assets, an increase of just under $400 million from the fourth quarter of 2025.
- Total reserves increased to $249.3 million.
- Cash and investments stood at $23.9 billion, an increase of 5.9% since the first quarter of 2025.
- The number of CAMELS code 3 credit unions decreased from 653 to 636.
- Credit unions with CAMELS codes 4 and 5 decreased from 117 to 107.
- Over 92% of credit unions carry a CAMELS code of 1 or 2.
- 3 credit unions failed in the first quarter of 2026, incurring losses of $5.7 million to the Share Insurance Fund.
| Share Insurance Fund measure | First quarter 2026 | Comparison |
|---|---|---|
| Total assets | $24.5 billion | Up just under $400 million from Q4 2025 |
| Total reserves | $249.3 million | Increased to this level |
| Cash and investments | $23.9 billion | Up 5.9% since Q1 2025 |
| CAMELS code 3 credit unions | 636 | Down from 653 |
| CAMELS codes 4 and 5 credit unions | 107 | Down from 117 |
| Credit union failures in the quarter | 3 | $5.7 million in fund losses |
Source: NCUA Board Action Bulletin, June 24, 2026
Key finding: Credit unions rated CAMELS 4 or 5 fell from 117 to 107 during the first quarter of 2026, with over 92% of institutions rated 1 or 2, while 3 failures cost the Share Insurance Fund $5.7 million. That is a loss ratio of 2.33 basis points against fund assets.
Consolidation and the Aggregate-Versus-Median Divide
- The number of federally insured credit unions declined to 4,250, from 4,411 a year earlier, a decline NCUA describes as consistent with long-running industry consolidation trends.
- 161 credit unions left the federally insured system in a single year.
- Membership grew in the aggregate over the year, but at the median it declined 0.5%.
- Over half of the credit unions with falling membership held less than $50 million in assets.
- The national median loan-to-share ratio was 68% at the end of the first quarter of 2026.
- The median credit union has 4,741 members against a mean of 34,298.
| Measure | System aggregate | National median |
|---|---|---|
| Loan-to-share ratio | 81.5% | 68% |
| Asset growth over the year | Up 4.9% | Up 2.8% |
| Loan growth over the year | Up 4.6% | Up 0.6% |
| Membership change over the year | Up 2.5 million | Down 0.5% |
| Net worth ratio | 11.24% | 12.45% |
Source: NCUA Quarterly Credit Union Data Summary 2026 Q1, Q1 2026 state-level report and 2026Q1 Call Report
Two columns, two different industries. Retail banking runs the same split, and the physical evidence sits in the bank branch closures record.
What is the biggest risk to credit unions?
Credit risk on consumer books is the measurable pressure point right now. System delinquency rose 5 basis points over the year to 85 basis points, and credit card arrears reached 204 basis points. Supervisory data points the other way, with CAMELS 4 and 5 institutions falling from 117 to 107 across the quarter.
64 credit unions sit below the well-capitalized threshold. The ten largest institutions control 19.23% of system assets. Those are two separate risks. A fragmented tail at the bottom, and asset concentration at the top, where one large failure would outweigh the raw failure count.
What is the main disadvantage of a credit union?
Scale is the recurring trade-off. The median federally insured credit union serves 4,741 members against a system mean of 34,298. Another 778 institutions below $10 million in assets hold $3.3 billion between them.
Small institutions are also the ones losing members, with over half of the credit unions reporting falling membership holding less than $50 million in assets. Thin scale limits product range, branch reach and technology spend.
Conclusion
Federally insured credit unions closed the first quarter of 2026 holding $2.48 trillion in assets, with 145.8 million members across 4,250 institutions. The aggregate net worth ratio stood at 11.24%. The per-institution picture is wider: Boeing Employees reports 12.23 and SchoolsFirst 9.39, while the median credit union beats both at 12.45.
Comparing one credit union against the system takes three numbers: its net worth ratio, the 7.0% statutory threshold, and its asset-tier median. That comparison grades regulatory capital, not deposit safety, which federal share insurance covers regardless of the ratio. Consolidation makes it more useful every quarter.
