Earnings · Q2 2026 call reports
Credit union operating expense to assets
Annualized non-interest expense divided by average assets. The median across all 4,299 credit unions reporting it was 3.61% for the quarter ended June 30, 2026. Among those with $100 million or more in assets, the middle half ran from 2.98% to 4.22% (median 3.56%).
Why it matters
Operating expense relative to assets shows how costly a credit union is to run for its size: salaries, branches, technology and everything else.
How it is calculated
Total non-interest expense, annualized, divided by average assets. 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_671 (total non-interest expense) · ACCT_010 (total assets). Methodology
How credit unions are spread
By NCUA peer group
| Assets | Count | 25th pct | Median | 75th pct |
|---|---|---|---|---|
| Under $2 million in assets | 232 | 2.44% | 3.91% | 5.65% |
| $2 million to $10 million | 539 | 2.71% | 3.81% | 5.34% |
| $10 million to $50 million | 1,135 | 2.82% | 3.62% | 4.46% |
| $50 million to $100 million | 573 | 2.89% | 3.60% | 4.42% |
| $100 million to $500 million | 1,061 | 3.07% | 3.75% | 4.41% |
| $500 million and up | 759 | 2.86% | 3.42% | 3.93% |
Lowest operating expense to assets
Credit unions with $100 million or more in assets.
- State Farm Federal Credit Union Bloomington, IL 0.38%
- Merck Employees Federal Credit Union Rahway, NJ 0.49%
- Connecticut State Employees Credit Union Hartford, CT 0.50%
- Firestone Federal Credit Union Akron, OH 0.62%
- Long Beach Firemen S Credit Union Long Beach, CA 0.87%
- F & A Federal Credit Union Monterey Park, CA 0.87%
- Workmen's Circle Incorporated Credit Union Savannah, GA 0.88%
- Caltech Employees Federal Credit Union La Canada, CA 1.00%
- Mon Valley Community Federal Credit Union Allenport, PA 1.01%
- Southern Energy Credit Union Birmingham, AL 1.01%
Highest operating expense to assets
- Pelican Credit Union Baton Rouge, LA 8.11%
- Natco Credit Union Richmond, IN 8.02%
- Upstate Federal Credit Union Anderson, SC 7.51%
- Peoples Advantage Federal Credit Union Petersburg, VA 7.38%
- Priority Trust Credit Union Houston, TX 7.04%
- Trius Federal Credit Union Kearney, NE 7.02%
- Texas Tech Federal Credit Union Lubbock, TX 6.98%
- Urw Community Federal Credit Union Danville, VA 6.93%
- Michigan First Credit Union Lathrup Village, MI 6.90%
- Liberty Savings Federal Credit Union Jersey City, NJ 6.81%
Median by state
Credit unions headquartered in each state, with $100 million or more in assets; states with at least three.
| State | Median | Count |
|---|---|---|
| Hawaii | 2.64% | 25 |
| Puerto Rico | 2.90% | 3 |
| North Dakota | 3.04% | 12 |
| Rhode Island | 3.06% | 8 |
| Utah | 3.09% | 22 |
| Massachusetts | 3.11% | 58 |
| Arkansas | 3.13% | 5 |
| Wisconsin | 3.20% | 49 |
| District of Columbia | 3.25% | 11 |
| California | 3.28% | 150 |
| New Hampshire | 3.28% | 9 |
| Nevada | 3.32% | 11 |
| Pennsylvania | 3.33% | 86 |
| West Virginia | 3.36% | 11 |
| Kentucky | 3.36% | 17 |
| New York | 3.38% | 91 |
| Washington | 3.40% | 40 |
| Minnesota | 3.42% | 43 |
| Alabama | 3.44% | 36 |
| Tennessee | 3.45% | 41 |
| Delaware | 3.45% | 6 |
| Iowa | 3.54% | 29 |
| New Mexico | 3.58% | 16 |
| Virginia | 3.59% | 46 |
| Maryland | 3.62% | 34 |
| Indiana | 3.62% | 44 |
| Wyoming | 3.63% | 11 |
| Colorado | 3.63% | 37 |
| Florida | 3.66% | 72 |
| Maine | 3.68% | 40 |
| Oklahoma | 3.70% | 27 |
| Connecticut | 3.70% | 21 |
| Illinois | 3.72% | 53 |
| Ohio | 3.75% | 77 |
| Arizona | 3.77% | 21 |
| Idaho | 3.79% | 17 |
| Georgia | 3.80% | 30 |
| North Carolina | 3.81% | 26 |
| New Jersey | 3.83% | 29 |
| Texas | 3.88% | 141 |
| Montana | 3.90% | 17 |
| Oregon | 3.94% | 29 |
| Michigan | 3.95% | 113 |
| South Dakota | 4.04% | 12 |
| Vermont | 4.06% | 7 |
| Kansas | 4.07% | 19 |
| Nebraska | 4.15% | 16 |
| Alaska | 4.29% | 7 |
| South Carolina | 4.40% | 22 |
| Missouri | 4.41% | 29 |
| Louisiana | 4.87% | 29 |
| Mississippi | 5.24% | 13 |
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 operating expense to assets?
The median across 4,299 credit unions was 3.61% in the Q2 2026 call reports. Among credit unions with $100 million or more in assets, the middle half ran from 2.98% to 4.22%.
Is a higher operating expense to assets better?
No. For operating expense to assets, lower is better for members, all else equal. Compare it with credit unions of the same size, since size and lending mix drive it.
How is operating expense to assets calculated?
Total non-interest expense, annualized, divided by average assets. 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_671 (total non-interest expense); ACCT_010 (total assets).
Which credit union has the lowest operating expense to assets?
State Farm Federal Credit Union of Bloomington, IL, at 0.38% in Q2 2026, among credit unions with $100 million or more in assets.