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Earnings · Q2 2026 call reports

Credit union cost of funds

Annualized dividends, interest on deposits and interest on borrowed money, divided by average assets (NCUA FPR cost of funds to average assets). The median across all 4,299 credit unions reporting it was 1.05% for the quarter ended June 30, 2026. Among those with $100 million or more in assets, the middle half ran from 1.02% to 1.73% (median 1.36%).

Why it matters

Cost of funds is what a credit union pays for the money it lends: dividends, deposit interest and borrowing costs. It rises when rates rise and when members move into certificates.

How it is calculated

Dividends on shares plus interest on deposits plus interest on borrowed money, annualized, divided by average assets (NCUA FPR). Year-to-date amounts are annualized (times 12 over the months elapsed), and average balances are the mean of this quarter and the prior December, as in NCUA's Financial Performance Report.

NCUA 5300 call report accounts: ACCT_380 (dividends on shares) · ACCT_381 (interest on deposits) · ACCT_340 (interest on borrowed money) · ACCT_010 (total assets). Methodology

How credit unions are spread

Distribution of cost of funds, Q2 2026 1,820 credit unions with $100 million or more in assets. Middle half from 1.02% to 1.73%, median 1.36%. 0.28% median 1.36% 2.75%
1,820 credit unions with $100 million or more in assets. Shaded: the middle half. Line: the median. The most extreme 1% at each end (38 credit unions) are left off the chart.

By NCUA peer group

AssetsCount25th pctMedian75th pct
Under $2 million in assets2320.01%0.19%0.57%
$2 million to $10 million5390.23%0.68%1.27%
$10 million to $50 million1,1350.40%0.79%1.22%
$50 million to $100 million5730.58%0.90%1.30%
$100 million to $500 million1,0610.86%1.18%1.53%
$500 million and up7591.28%1.60%1.93%

Highest cost of funds

Credit unions with $100 million or more in assets.

  1. Alliant Credit Union Chicago, IL 3.70%
  2. State Farm Federal Credit Union Bloomington, IL 3.50%
  3. SJP Federal Credit Union Buffalo, NY 3.27%
  4. San Joaquin Power Employees Credit Union Fresno, CA 3.26%
  5. American Airlines Federal Credit Union Fort Worth, TX 3.23%
  6. Lafayette Federal Credit Union Rockville, MD 3.14%
  7. Usalliance Federal Credit Union Rye, NY 3.03%
  8. Freedom Northwest Credit Union Kamiah, ID 3.00%
  9. Four Points Federal Credit Union Omaha, NE 2.95%
  10. Connexus Credit Union Wausau, WI 2.90%

Lowest cost of funds

  1. First Financial Federal Credit Union Freehold, NJ 0.03%
  2. Hibbing Cooperative Credit Union Hibbing, MN 0.09%
  3. Marquette Community Federal Credit Union Marquette, MI 0.11%
  4. Allied Federal Credit Union Arlington, TX 0.12%
  5. Finger Lakes Federal Credit Union Geneva, NY 0.13%
  6. University of Nebraska Federal Credit Union Lincoln, NE 0.17%
  7. Deepwater Industries Federal Credit Union Deepwater, NJ 0.20%
  8. Cannon Federal Credit Union Clovis, NM 0.21%
  9. Tonawanda Valley Federal Credit Union Batavia, NY 0.21%
  10. Laredo Federal Credit Union Laredo, TX 0.21%

Median by state

Credit unions headquartered in each state, with $100 million or more in assets; states with at least three.

StateMedianCount
Utah1.98%22
Idaho1.76%17
Arkansas1.64%5
Kentucky1.64%17
Wisconsin1.62%49
Kansas1.61%19
Illinois1.60%53
Rhode Island1.54%8
Nebraska1.54%16
Maine1.52%40
Oklahoma1.51%27
Massachusetts1.50%58
Indiana1.48%44
Wyoming1.48%11
Tennessee1.47%41
South Dakota1.47%12
Colorado1.46%37
Washington1.44%40
Virginia1.43%46
Vermont1.42%7
Missouri1.42%29
Montana1.40%17
New Hampshire1.40%9
Arizona1.40%21
North Dakota1.39%12
Iowa1.37%29
Minnesota1.37%43
Texas1.36%141
Alabama1.36%36
Ohio1.36%77
District of Columbia1.35%11
Florida1.34%72
Louisiana1.33%29
North Carolina1.31%26
New Mexico1.31%16
Mississippi1.31%13
California1.30%150
South Carolina1.30%22
Delaware1.28%6
Pennsylvania1.25%86
New York1.22%91
Georgia1.20%30
Hawaii1.20%25
Michigan1.20%113
Connecticut1.19%21
Maryland1.18%34
Oregon1.13%29
New Jersey1.13%29
Puerto Rico1.12%3
Nevada1.08%11
West Virginia1.06%11
Alaska0.93%7

Source: NCUA 5300 Call Report quarterly data, Q2 2026. Not affiliated with NCUA. Every credit union's figure is on its own page, in the screener, and in the free API.

Questions people ask

What is the average credit union cost of funds?

The median across 4,299 credit unions was 1.05% in the Q2 2026 call reports. Among credit unions with $100 million or more in assets, the middle half ran from 1.02% to 1.73%.

Is a higher cost of funds better?

Not necessarily. Cost of funds describes how a credit union is run rather than how well, so it is best read against credit unions of the same size and business mix.

How is cost of funds calculated?

Dividends on shares plus interest on deposits plus interest on borrowed money, annualized, divided by average assets (NCUA FPR). Year-to-date amounts are annualized (times 12 over the months elapsed), and average balances are the mean of this quarter and the prior December, as in NCUA's Financial Performance Report. Source accounts on NCUA's 5300 call report: ACCT_380 (dividends on shares); ACCT_381 (interest on deposits); ACCT_340 (interest on borrowed money); ACCT_010 (total assets).

Which credit union has the highest cost of funds?

Alliant Credit Union of Chicago, IL, at 3.70% in Q2 2026, among credit unions with $100 million or more in assets.