2026 Q1 Financial Report

Madison, WI, April 2026 - UW Credit Union ended first-quarter of 2026 with strong financial results and continued membership growth, reflecting our commitment to providing long term value and financial stability for our members. 

Total assets reached $6.6 billion at the end of the quarter. Net income for the first quarter was $20.7 million, an increase of 104.0% compared to the previous year, and net interest income reached $57.8 million, up from $50.9 million the previous year.

As of March 31, 2026, member deposit balances exceeded $5.7 billion, growing at an annualized rate of 17.6% in the first quarter, supported by healthy member engagement and new primary account relationships. Membership growth remained strong, with 4,482 new members added in the first quarter, bringing total membership to nearly 392,000.

In March 2025, UW Credit Union introduced a new simplified Rewards Checking product with no monthly fee and no minimum balance. The credit union also introduced free Early Payday which helps members manage cash flow by posting direct deposit payroll into checking accounts up to 2 days early. These enhancements contributed to the addition of 2,682 new checking accounts in the first quarter. Members with checking accounts can earn up to 2% cash back on all credit card purchases. Through the first quarter of 2026 cash-back credit card rewards totaled $4.3 million. 

As of March 31, 2026, liquidity remained strong. The credit union held $531.4 million in cash and Federal Reserve deposits, and maintained $942.0 million in marketable investment securities, with 40% scheduled to mature within 12 months. The credit union also maintained $1.9 billion in borrowing capacity from the Federal Home Loan Bank and Federal Reserve. Approximately 91% of the credit union’s member deposit balances are within the limits of federal deposit insurance. The credit union’s deposit funding on March 31, 2026, was entirely from its members, with no brokered deposits. 

Loan balances ended the quarter at $4.6 billion, growing at an annualized rate of 5.9% in the first quarter. Loan quality remained strong, with delinquent loans at 0.56%, below the 0.96% non-current bank loan average reported by the FDIC.

“We’re financially strong, and well positioned for the current economic environment, which enables us to be a steady partner,” said Chief Financial Officer Brad McClain. “Now in our 94th year, UW Credit Union has the financial strength to continue serving our members through economic uncertainty. Our strong earnings have built capital reserves of $602 million, which is 23.2% above the regulatory threshold required for the highest ‘well capitalized’ designation.”

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